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Issues
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Clarification
- Part 3
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| 20 |
Settlement
for outstanding transactions entered into prior to 1300 hours on 1 September
1998
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All
outstanding contracts entered into prior to 1300 hours on 1 September
1998 can be settled on their respective maturity dates. In this respect,
transfers between external accounts would only be allowed for the settlement
of such contracts. All those who wish to settle their contracts after
9 September 1998 are required to submit a list of all outstanding contracts
including name of counterparty, amount and the maturity date to Bank Negara
Malaysia by 12 September 1998.
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| 21 |
Definition
of currency notes
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Currency notes
refer to currency notes and traveler’s cheques. |
| 22 |
Import
of currency notes
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For non-resident
travelers
- A nonresident traveler visiting Malaysia is permitted to carry with
him/her any amount of traveler’s cheques denominated in foreign
currencies and foreign currency notes but is required to declare to
the authorities the amount of traveler’s cheques denominated in
foreign currencies and foreign currency notes carried by him/her into
Malaysia.
- A nonresident traveler visiting Malaysia is permitted to carry with
him/her ringgit currency notes up to RM1,000 only.
For resident travelers
- A resident traveler returning to Malaysia is permitted to carry with
him/her any amount of traveler’s cheques denominated in foreign
currencies and foreign currency notes.
- A resident traveler returning to Malaysia is permitted to carry with
him/her ringgit currency notes up to RM1,000 only.
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| 23 |
Export
of currency notes
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For nonresident
travelers
- A nonresident traveler leaving Malaysia is permitted to carry with
him/her traveler’s cheques denominated in foreign currencies and
foreign currency notes up to the amount brought into Malaysia.
- A nonresident traveler leaving Malaysia is permitted to carry with
him/her ringgit currency notes up to RM1,000 only.
For resident travelers
- A resident traveler leaving Malaysia is permitted to carry with him/her
traveler’s cheques denominated in foreign currencies and foreign
currency notes up to the equivalent of RM10,000.
- A resident traveler leaving Malaysia is permitted to carry with him/her
ringgit currency notes up to RM1,000 only.
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| 24 |
Payments
by residents to non-residents for ringgit assets in Malaysia
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All
payments by residents to nonresidents for the purchase of ringgit assets
in Malaysia must be settled in ringgit.
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