The central bank said the rollout builds on the success of the pilot programme, which was introduced in April 2024.
PETALING JAYA: Bank Negara has announced the full rollout of the qualified resident investor (QRI) programme for eligible corporates, effective July 1 as part of efforts to promote two-way flows in the onshore foreign exchange market.
In a statement yesterday, the central bank said the rollout builds on the success of the pilot programme, which was introduced in April 2024.
Since its inception, the QRI programme has generated cumulative inflows from participants exceeding US$1bil into the domestic financial market.
The QRI programme allows eligible resident corporates to enjoy greater flexibility in managing their future direct investments abroad without needing prior approval from Bank Negara.
To participate, corporates are required to complete a one-time registration with Bank Negara.
Upon successful registration, these corporates must repatriate and convert eligible foreign currency funds into ringgit in order to benefit from the programme’s flexibilities.
Eligible corporates include all resident companies that repatriate and convert foreign currency proceeds from their overseas investments, and that demonstrate good corporate governance as well as compliance with Bank Negara’s foreign exchange policy.
The QRI programme will be available until June 30, 2028.
