Bank Negara Malaysia revises Foreign Exchange Policy Notices, catering to evolving needs of current economy

30 August 2022

On 1 June 2022, the revised Foreign Exchange Policy Notices (“Revised FEP Notices”), formerly known as Foreign Exchange Notices (“FE Notices”), came into effect, superseding the previous FE Notices issued on 15 April 2021.

The Revised FEP Notices introduce several amendments to the FE Notices, particularly the following Notices:

• Notice 1: Dealings in Currency, Gold and Other Precious Metals

• Notice 2: Borrowing, Lending and Guarantee

• Notice 4: Payment and Receipt

• Notice 7: Export of Goods

This is an extract of an article by Rahmat Lim & Partners, our associate firm in Malaysia. To read the full article from the Rahmat Lim & Partners website www.rahmatlim.com, please click here.