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Type of Payments Allowed |
Supportive Documents |
Beneficiary Reference Details |
|---|---|---|
Education |
Between Residents – |
Student ID Number |
Employment Abroad |
Between Residents – Employer's Letter of Offer or Letter from employer confirming employment, Staff ID, Staff Work Permit etc |
Staff ID Number |
Payment for Goods & Services |
Between Residents – Not Allowed. Requires BNM’s Approval. |
Invoice Number |
Payment Between Immediate Family Members like living expenses etc |
Between Residents – Proof of relationship like marriage certificate, birth certificate etc |
NIL |
Payment for Loans Taken By Residents In Malaysia or Abroad |
For resident individual, sole proprietor, general partnership - any form of loan agreement, promissory note signed with the individual or letter of offer from the local financial institutions or non-resident. (Resident individual is allowed to borrow up to equivalent of RM10 million from Resident or Non Resident)
- All entities within the group of entities are allowed to borrow up to RM100 million in aggregate from non-resident - From onshore banks (other than trade lines) up to RM50 million in aggregate per calendar year on a corporate group basis. |
NIL |
Lending by Non Resident To Resident |
Loan agreement or any documents evidencing the amount of the loan taken by the resident from a non-resident. Same restriction as stated in item (5) |
NIL |