Businesses urge BNM to set cash transaction limit at RM50,000

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) proposal to set a cash transaction limit (CTL) of RM25,000 per transaction next year has received a mixed reaction from businesses, with some quarters suggesting it should be at least RM50,000.

ASEAN Chamber of Commerce president, Datuk Moehamad Izat Emir said limiting physical cash transactions to just RM25,000 was a bit too drastic, and hoped the regulator would undertake a further study on this.