Top key features and benefits
- KFH Promissory FX Contract-i is a written, dated and signed instrument by a party containing an unconditional promise to enter into an agreed foreign exchange contract with another party at a specified future date. The product is designed to assist your business to mitigate the uncertainty and provide flexibility in managing your foreign exchange open positions.
- This product adopts the Shariah principle of Wa’d
- This product allows importers and exporters to hedge their exposures in the foreign currency by fixing the price upfront.
- Available currencies: US Dollar, Pound Sterling, Euro, Australian Dollar, Kuwaiti Dinar, Saudi Riyal, Singapore Dollar and Japanese Yen.
- Available tenor: up to 6 months, with BNM’s approval for longer tenor
- Importers / Exporters
- Financing / Investment abroad in Foreign Currency
- Other companies with specific approval from Bank Negara Malaysia
- Trade Documents or any other related documents
- BNM’s approval letter, if required
- Please refer to BNM’s Foreign Exchange Administrative Rules