Malaysia to impose cash transaction limit of RM25,000 next year


KUALA LUMPUR (Bernama): Malaysia is planning to impose a cash transaction limit (CTL) of RM25,000 starting next year to further strengthen the country’s financial integrity and curb illicit activities.

"This is to address the abuse of physical cash used for illicit activities,” Bank Negara (BNM) deputy governor and chairman of the National Coordination Committee to Counter Money Laundering (NCC), Datuk Abdul Rasheed Ghaffour said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 48
Cxense type: NA
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Business

SMEs can now seek financing from MFA
Going gets tough for Malaysia ahead of 2023
Asia’s inflation still moderate
Steady residential sector
Bermaz rides on buoyant car sales
Headline inflation for August hits 4.7% year-on-year
Steel makers fear deepening crisis
Prospects for Covid-19 vaccine companies diminish
Short position: Glove makers, MREITs
No intervention likely to actively boost ringgit

Others Also Read