It is a Shariah-based deposit account offered under the concept of Qardh (interest-free loan). Under this concept, the money deposited into this account is guaranteed in payment, when demanded and will not be exposed to fluctuations in exchange rates. This product is also beneficial for those living away from home, to manage their cash flow in the currency they prefer, whether in Malaysia or elsewhere.
Shariah concept: Qardh
- USD 1,000 or its equivalent for individual/joint account
- USD 5,000 or its equivalent for non-individual account
- Ability to buy and sell foreign currencies
- Free monthly statement account
- 24-hour Customer Contact Centre
- Deposits and Withdrawals
Deposits of foreign currencies into Foreign Currency Account can be made via Telegraphic Transfer/Demand Draft/Cheque. Cash deposits can also be made, however the foreign currency will first be converted into Ringgit Malaysia (RM) before being credited into the Foreign Currency account holder. All cash withdrawals will also be converted to Ringgit Malaysia (RM).
- An introducer is required
- Open to Malaysian citizens, permanent residents and non-residents
- Individual account / Joint Account: 18 years and above
- Non-individual account:
- Companies, multinational corporations (including local off-shore and foreign off-shore companies), professionals, embassies, consulates and other diplomatic bodies
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