What is the foreign cheque clearing process in Malaysia?

If you deposit a foreign currency denominated cheque issued by an issuer from that foreign country (e.g., the cheque, denominated in Pound Sterling issued by a person residing in the UK and the drawee bank is in the UK), the process flow in clearing the cheque is as follows:

Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)

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Knowledge Base ID :   1400
Last Reviewed :   April 30, 2014
Source :   BankingInfo
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