Foreign Currency Account-i

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Foreign Currency Account/-i

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Initial Deposit

Initial deposit of USD1,000 or equivalent

Islamic Account

Shariah compliant under Foreign Currency Account-I

Settlement

Facilitate settlement in 9 major currencies: United States Dollar (USD), Euro (EUR), British Pound (GBP), Australian Dollar (AUD), Japanese Yen (JPY), Singapore Dollar (SGD), Hong Kong Dollar (HKD), New Zealand Dollar (NZD), United Arab Emirates Dirham (AED)

Note:
Protected by PIDM up to RM250,000 for each depositor

Eligibility

Sole Proprietorship
Partnership
Limited Liabilities Partnership (LLP)
Private Limited Company

Requirement : Half-yearly maintenance charges of USD10 or equivalent

Documents and Requirements

Business Registration Certificate (Form D)
Business License Forms
Identification Document i.e. MyKad/Passport of the proprietor/all partners and authorised signatories

Notice of Registration from the Registrar of the LLP
Register of the names, particulars and address of each Partner
Approval Letter from the Professional governing body to form a LLP and a valid Professional Indemnity Certificate (applicable for Professional Practice LLP only)
Resolution passed according to the terms as stated in the LLP Agreement OR by a majority of the partners of the LLP resolving the following:
- Appointment of Bank and Branch to open the Current Account
- Names and specimen signatures of the Authorised Signatories
- Method of signing (mode of operation)
Identification document i.e. MyKad/Passport of all partners and authorised signatories

Certificate of Incorporation (Form 9)
Memorandum & Articles of Association
Latest Form 24 (Companies Act, 1965)
Latest Form 49 (Companies Act, 1965)
Resolution of the Company's Board of Directors stating the following:
- Appointment of Bank and Branch to open the Current Account
- Names and specimen signatures of the Officials/Directors/Signatories
- Specimen of Chop or Rubber Stamp of the Company.
- Undertaking by the Company to notify the Bank via certified Resolution of all future changes affecting the mandate.
- Authority to transfer funds from the Account to any other account on behalf of the Company.
Identification document i.e. MyKad/Passport of all directors and authorised signatories

Section 14 - Application for registration of company
Section 15 - Notification of Registration
Section 17 - Certificate of incorporation/Notice of Registration
Section 58 & 236(2) - Notification of Appointment of the First Company Secretary
Memorandum & Articles of Association [Mandatory for companies limited by guarantee to have a Constitution
Resolution of the Company's Board of Directors stating the following:
- Appointment of Bank to open the Current Account
- Names and specimen signatures of the Officials/Directors/Signatories
- Specimen of Chop or Rubber Stamp of the Company
- Undertaking by the Company to notify the Bank via certified Resolution of all future changes affecting the mandate
- Authority to transfer funds from the Account to any other account on behalf of the Company
Identification document i.e. MyKad/Passport of all directors and authorised signatories

Important Information

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Foreign Currency Account/-i

Protected by PIDM up to RM250,000 for each depositor

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