|
|
Allowed
|
Needs Approval
|
Not Allowed
|
| A. OFFSHORE
COMPANIES/FOREIGN OFFSHORE COMPANIES |
| 1. Open foreign currency accounts
in Malaysia or overseas |
X
|
|
|
| 2. Open External Accounts in
Malaysia to:- |
defray statutory and administrative
expenses
|
X
|
|
|
|
|
X
|
|
|
pay for goods and services
in Malaysia
|
X
|
|
|
place fixed deposits with
commercial banks in Malaysia
|
X
|
|
|
invest in Ringgit assets in Malaysia
|
X
|
|
|
| 3. External Accounts may be
funded from:- |
|
|
X
|
|
|
credit facilities up to
RM200,000 in total from banking institutions in Malaysia
|
X
|
|
|
dividends, interest, rental,
profits, fees and commission
|
X
|
|
|
repatriation of Ringgit from overseas banks
|
|
|
X
|
| 4. Convert funds in the External
Account into foreign currency arising from receipt of dividends, interest,
rental, profits, fees and commission |
X
|
|
|
| 5. Borrow in foreign currency
or lend in foreign currency, with commercial banks or Tier-1 merchant banks
in Malaysia, or any non-resident |
X
|
|
|
| 6. Borrow in Ringgit (except
credit facilities up to RM200,000 in total from banking institutions in
Malaysia) |
|
|
X
|
| 7. Lend in Ringgit |
|
|
X
|
| 8. Undertake any foreign exchange
transactions in two foreign currencies with an authorized dealer or a Tier-1
merchant bank or any non-resident |
X
|
|
|
| 9. All transactions with Specified
Persons or Restricted Currencies (Israel, Serbia and Montenegro) |
|
X
|
|
| |
|
B. OFFSHORE INSURANCE ENTITIES
|
| 1. Open foreign currency accounts
in Malaysia or overseas |
X
|
|
|
| 2. Open External Accounts in
Malaysia to:- |
defray statutory and administrative
expenses
|
X
|
|
|
|
|
X
|
|
|
pay for goods and services
in Malaysia
|
X
|
|
|
place fixed deposits with
commercial banks in Malaysia
|
X
|
|
|
pay insurance premiums
and claims for re-insurance of Malaysian risks and direct insurance
of permitted Malaysian risks
|
X
|
|
|
invest in Ringgit assets in Malaysia
|
X
|
|
|
| 3. External Accounts may be
funded from:- |
|
|
X
|
|
|
credit facilities up to
RM200,000 in total from banking institutions in Malaysia
|
X
|
|
|
dividends, interest, rental,
profits, fees and commission
|
X
|
|
|
receipt of insurance premiums and claims for
reinsurance of Malaysian risks and direct insurance of permitted Malaysian
risks
|
X
|
|
|
repatriation of Ringgit from overseas banks
|
|
|
X
|
| 4. Convert funds in the External
Account into foreign currency arising from receipt of dividends, interest,
rental, profits, fees and commission |
X
|
|
|
| 5. Borrow in foreign currency
or lend in foreign currency, with commercial banks or Tier-1 merchant banks
in Malaysia, or any non-resident |
X
|
|
|
| 6. Borrow in Ringgit (except
credit facilities up to RM200,000 in total from banking institutions in
Malaysia) |
|
|
X
|
| 7. Lend in Ringgit |
|
|
X
|
| 8. Undertake any foreign exchange
transactions in two foreign currencies with an authorized dealer or a Tier-1
merchant bank or any non-resident |
X
|
|
|
| 9. All transactions with Specified
Persons or Restricted Currencies (Israel, Serbia and Montenegro) |
|
X
|
|
| |
|
C. OFFSHORE BANKS
|
| 1. Open foreign currency accounts
in Malaysia or overseas |
X
|
|
|
| 2. Open External Accounts in
Malaysia to:- |
defray statutory and administrative
expenses
|
X
|
|
|
|
|
X
|
|
|
pay for goods and services
in Malaysia
|
X
|
|
|
place fixed deposits with
commercial banks in Malaysia
|
X
|
|
|
invest in Ringgit assets in Malaysia
|
X
|
|
|
| 3. External Accounts may be
funded from:- |
|
|
X
|
|
|
credit facilities up to
RM200,000 in total from banking institutions in Malaysia
|
X
|
|
|
dividends, interest, rental,
profits, fees and commission
|
X
|
|
|
| 4. Convert funds in the External
Account into foreign currency arising from receipt of dividends, interest,
rental, profits, fees and commission |
X
|
|
|
| 5. Trade in Ringgit instruments
|
|
|
X
|
| 6. Borrow in foreign currency
or lend in foreign currency, with commercial banks or Tier-1 merchant banks
in Malaysia, or any non-resident |
X
|
|
|
| 7. Borrow in Ringgit (except
credit facilities up to RM200,000 in total from banking institutions in
Malaysia) |
|
|
X
|
| 8. Lend in Ringgit |
|
|
X
|
| 9. Issue guarantees in Ringgit
|
X
|
|
|
| 10. Issue guarantees in foreign
currency |
X
|
|
|
| 11. Receive payment under guarantees
in Ringgit |
|
|
X
|
| 12. Receive payment for guarantee
fees in Ringgit |
X
|
|
|
| 13. Receive payment for guarantees
in foreign currency (fees and claims) |
X
|
|
|
| 14. Accept Ringgit deposits
from residents or non-residents |
|
|
X
|
| 15. Undertake any foreign exchange
transactions, including remittances, forward and spot purchases and sales
with or on behalf of residents (other than an authorized dealer or a Tier-1
merchant bank) |
|
X
|
|
| 16. Undertake any
foreign exchange transactions in two foreign currencies with an authorized
dealer or a Tier-1 merchant bank or any non-resident |
X
|
|
|
| 17. All transactions with Specified
Persons or Restricted Currencies (Israel, Serbia and Montenegro) |
|
X
|
|
