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Issues
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Clarification
- Part 13
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| 90 |
Crediting of Ringgit
cash into a Special External Account (SEA) |
- Nonresidents are allowed to deposit Ringgit cash of not exceeding
RM10,000 per day into their SEA.
- Such deposits in Ringgit cash will be recorded as "Ringgit cash
deposit".
- The cash deposit will only be recorded as principal where there is
documentary evidence that the Ringgit funds were withdrawn from EA of
the same account holder or proceeds from sale of foreign currency to
a licensed commercial bank.
- There is no limit for the crediting of Ringgit cash of non-resident
studying or working in Malaysia as long as the crediting bank is satisfied
that the transaction is in line with the track record of the customers.
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| 91 |
Crediting of Ringgit
cash into an EA. |
- Nonresidents, other than those studying or working in Malaysia, are
not allowed to credit Ringgit cash into their EA.
- Nonresidents studying or working in Malaysia are continue to be allowed
to credit Ringgit cash into their EA with no limit as long as the crediting
bank is satisfied that the transaction is in line with the track record
of the customers.
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| 92 |
Withdrawal of
Ringgit cash from EA and SEA. |
- Nonresidents are allowed to withdraw Ringgit cash of not exceeding
RM10,000 per day from their EA or SEA.
- Such cash withdrawal from the SEA will
be taken as withdrawal of principal sum in the account.
- The amount of principal remaining in
the SEA will, therefore, be reduced accordingly.
- However, if there are realised profits in the SEA at the point of
time of withdrawal, a 10% levy will be collected on the withdrawal of
profits in Ringgit cash.
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| 93 |
Transfer of funds
from EA to DEA. |
- Funds in the EA may be transferred into the DEA of the same account
holder for purposes of facilitating trading on the COMMEX and KLOFFE.
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