OPEN AN ACCOUNT

Foreign Currency Asset Onshore and Investment Abroad for Own Account

Any Amount*

1. Any amount (Note 1)

• Using foreign currency funds from abroad;

• From a non-resident, other than foreign currency borrowing; or

• Sourced from Investment Foreign Currency Account (previously known as Foreign Currency Account II (FCA II)).

2. Up to RM10million
   equivalent in aggregate

• Foreign currency borrowing obtained by the resident from a licensed onshore bank or non-resident.

3. Up to RM 1 million in
   aggregate per calendar year

• Using foreign currency funds sourced from Trade Foreign Currency Account (previously known as Foreign Currency Account I (FCA I));

• Using foreign currency funds sourced from conversion of ringgit; or

• Through the swapping of financial assets.

“Foreign Currency Asset Onshore”

1. purchase of foreign currency-denominated security for Islamic security offered in Malaysia by a resident as approved by BNM;
2. purchase of foreign currency-denominated financial instrument or Islamic financial instrument offered in Malaysia by a resident as approved by BNM; and
3. placement into foreign currency account with a licensed onshore bank other than placement for Investment Abroad.

1. 1. purchase of foreign currency-denominated asset in Malaysia offered by a non-resident, including Labuan entity;
   2. purchase of foreign currency-denominated asset offered outside Malaysia;
   3. lending in foreign currency to a non-resident;
   4. administrative expenses, working capital arising from the set-up of any business arrangement, including a joint venture project where no entity is created or established, outside Malaysia;
   5. purchase of foreign currency-denominated financial instrument or Islamic financial instrument without firm commitment, other than exchange rate derivative, offered on an overseas Specified Exchange under the Capital Markets and Services Act 2007 [Act 671] undertaken by a resident through a resident futures broker;
   6. placement into Investment Foreign Currency Account (formerly known as FCA II) in Malaysia as specified in Notice 3; or
   7. placement into foreign currency account overseas other than for education or employment abroad; or
2. swapping of a financial asset in Malaysia for a financial asset outside Malaysia.

“activities in the real sector”

1. the production or consumption of goods or services, other than-activities in the
   1. financial services sector, whether Islamic or otherwise;
   2. the purchase of security or Islamic security;
   3. the purchase of financial instrument or Islamic financial instrument; or
2. the construction or purchase of a residential or commercial property excluding the purchase of land only.

1. a citizen of Malaysia, excluding a citizen who has obtained permanent resident status in a country or a territory outside Malaysia and is residing outside Malaysia;
2. a non-citizen of Malaysia who has obtained permanent resident status in Malaysia and is ordinarily residing in Malaysia;
3. a body corporate incorporated or established, or registered with or approved by any authority, in Malaysia;
4. an unincorporated body registered with or approved by any authority in Malaysia; or
5. the Government or any State Government

1. any person other than a resident;
2. an overseas branch, a subsidiary, regional office, sales office or representative office of a resident company;
3. Embassies, Consulates, High Commissions, supranational or international organizations; or
4. a Malaysian citizen who has obtained permanent resident status of a country or territory outside Malaysia and is residing outside Malaysia;