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When do I need foreign currency? Where do I exchange currency?

Foreign currency notes and coins are normally required if you want to travel overseas. Importers and exporters, require foreign currency for making payment for their imports and other trade transactions.

These foreign currency needs can only be met by licensed money changers and authorised dealers.

The authorised dealers are:
  • All banking institutions

  • All Islamic banking institutions

  • Bank Islam Malaysia Berhad 1

  • Selected Non-banks dealers


References
  1. The official website of Bank Islam Malaysia Berhad


Reprinted with permission from BankingInfo (A Consumer Education Programme)


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Notes
Knowledge Base ID :   1192
Last Reviewed :   May 22, 2014
Source :   BankingInfo
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