Banking & Finance:
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Activity
Type of Licences / Requirements
Approving Authority
Local Payment in Foreign Currency Between Residents Approval letter from the Controller of Foreign Exchange Balance of Payments
Department, Central Bank of
Malaysia
(Cawangan Sabah)
Jln Datuk Chong Thien Voon
P. O. Box 11200
88813 Kota Kinabalu, Sabah
Tel: 088-211211
Fax: 088-219464
Borrowing

(a) Borrowing from non-residents (inclusive of guarantees):

i. In foreign currency exceeding RM1 million in aggregate
ii. In ringgit

(b) Local borrowing

i. Obtained by non- resident controlled companies exceeding RM10 million in aggregate
ii. Obtained by non-resident controlled companies to finance the purchase of immovable properties in Malaysia
iii. Obtained by non-residents exceeding RM100,000

(c) Local borrowing in foreign currency exceeding RM1 million
Approval letter from the Controller of Foreign Exchange

Balance of Payments
Department, Central Bank of
Malaysia
(Cawangan Sabah)
Jln Datuk Chong Thien Voon
P. O. Box 11200
88813 Kota Kinabalu, Sabah
Tel: 088-211211
Fax: 088-219464

Opening of Bank Account

(a) Overseas account by resident

(b) Foreign currency account maintained by residents in Malaysia
Approval letter from the Controller of Foreign Exchange

Balance of Payments
Department, Central Bank of
Malaysia
(Cawangan Sabah)
Jln Datuk Chong Thien Voon
P. O. Box 11200
88813 Kota Kinabalu, Sabah
Tel: 088-211211
Fax: 088-219464

Flow of Funds

(a) Export proceeds

i. exceeding 6 months from the date of export
ii. to offset export proceeds against import payments or loan repayments
iii. will not receive export proceeds

(b) Investment abroad and loan to non-residents if the resident concerned has obtained local borrowing
Approval letter from the Controller of Foreign Exchange Balance of Payments
Department, Central Bank of
Malaysia
(Cawangan Sabah)
Jln Datuk Chong Thien Voon
P. O. Box 11200
88813 Kota Kinabalu, Sabah
Tel: 088-211211
Fax: 088-219464
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