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Quick Guide on Foreign Exchange Policy

Foreign Currency Account maintained by Resident

 

 

Trade Foreign Currency Account (TFCA)

 Investment Foreign Currency Account (IFCA)

Permissible Sources
  • Proceeds of Export of Goods (PEG);

  • Settlement of domestic trade in goods or services from another resident within the Global Supply Chain (GSC) as permitted under Foreign Exchange Policy (FEP) Notice 4;

  • Any amount for same party transfers from TFCA or IFCA;

  • Other foreign currency (FCY) funds arising from transaction permitted under the FEP Notices.
  • Any FCY funds, other than:
    • PEG; and
    • Settlement of domestic trade in goods or services from another resident within the GSC as permitted under FEP Notice 4.
  • Up to RM1 million equivalent in aggregate per calendar year2 using funds sourced from:
    • Conversion of RM;
    • TFCA; and
    • Swapping of a RM-denominated financial asset in Malaysia for a financial asset outside Malaysia.
    • Any amount for same-party transfers from IFCA.
Permissible Uses

  • Settlement of domestic trade in goods or services from another resident within the GSC as permitted under FEP Notice 4;

  • Investment in FCY asset (including transfers to own IFCA) up to the permitted aggregated investment limit of RM1 million equivalent per calendar year1 in FEP Notice 3;

  • Any amount for same party transfers into TFCA;

  • All other permissible purposes in the FEP Notices.

  • Any amount for same-party transfers into TFCA or IFCA;

  • All other permissible purposes in the FEP Notices.

 

1    Computed based on an aggregate borrowing in FCY by the RI and a SP and a GP owned by the RI

2    Computed in aggregate based on aggregate borrowing of the RI, SP and GP’s investment in FCY Asset.

 

  Trade Foreign Currency Account (TFCA) Investment Foreign Currency Account (IFCA)
 Permissible Sources

  • Proceeds of Export of Goods (PEG);

  • Settlement of domestic trade in goods or services from another resident within the Global Supply Chain (GSC) as permitted under Foreign Exchange Policy (FEP) Notice 4;
  • Any amount for same party transfers from TFCA or IFCA;

  • Other foreign currency (FCY) funds arising from transaction permitted under the FEP Notices.
  • Any FCY funds, other than:
    • PEG; and
    • Settlement of domestic trade in goods or services from another resident within the GSC as permitted under FEP Notice 4.
  • Up to RM50 million equivalent in aggregate per calendar year2 using funds sourced from:
    • Conversion of Ringgit (RM);
    • TFCA;
    • FCY borrowing obtained from a Licensed Onshore Bank for purposes other than Direct Investment Abroad; and
    • Swapping of a RM-denominated financial asset in Malaysia for a financial asset outside Malaysia.
  • Any amount for same-party transfers from IFCA.
 Permissible Uses

  • Settlement of domestic trade in goods or services from another resident within the GSC as permitted under FEP Notice 4;

  • Investment in FCY asset (including transfers to own IFCA) up to the permitted aggregated investment limit of RM50 million equivalent per calendar year2 in FEP Notice 3;

  • Any amount for same-party transfers into TFCA;

  • All other permissible purposes in the FEP Notices.

  • Any amount for same-party transfers into TFCA or IFCA;

  • All other permissible purposes in the FEP Notices.

 

1   Computed based on an aggregate borrowing in FCY by the RE and other RE with Parent-subsidiary Relationship

2   Computed in aggregate based on the RE and other RE with Parent-Subsidiary Relationship’s investment in FCY Asset

 

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