Bank Negara Malaysia (“BNM”) issued a press statement
on 16 August 2019 announcing that the Foreign Exchange Administration Policies will be liberalised in the following respects with effect from 30 August 2019 –
Credit facilities such as credit cards and facilities of similar form which are used by corporates for miscellaneous expenses such as sundry and employees’ travel expenses are excluded from the definition of ‘domestic ringgit borrowing’ under the applicable Foreign Exchange Administration Policy on investments abroad.
BNM also stated in the press statement that the above liberalisation measures will be set out in Supplementary Notice No. 6 on the Foreign Exchange Administration Rules to be issued on the day when those measures take effect.