A SIDREC Info Alert:
Bank Negara Governor announces new requirements lowering the threshold for banks’ daily cash threshold report (CTR), from 1 January 2019.
Banks will be required to report any cash transaction exceeding RM25,000 in their CTR. This reduces the reporting threshold of cash transactions through financial Institutions, from the current RM50,000 to RM25,000.
Customers will be required to provide information (e.g. the source of funds and purpose of transaction) for transactions involving cash amounts exceeding RM25,000.
For more details read, the full story from The Star Online in the link:
https://www.thestar.com.my/news/nation/2018/10/31/only-rm25000-per-transaction-soon-bank-negara-any-amount-higher-than-that-will-be-checked/
Sujatha Sekhar Naik, Chief Executive Officer of the Securities Industry Dispute Resolution Center (SIDREC), discusses her role in providing a free service for the settlement of disputes between investors and capital market intermediaries like brokers, unit trust management companies and fund managers.
SIDREC will be with Bursa Malaysia-i at the Shariah Investing Fair 2018, held 21-22 July 2018 at the Exhibition Hall 1, Kuala Lumpur Convention Centre (KLCC).
4E Journal
Vol. 16, No. 3, 3Q2016
www.fpam.org.my
Securities Industry Dispute Resolution Center (201001025669)
Level 25, Menara Takaful Malaysia
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
T: +60-3-2276 6969
E: info@sidrec.com.my
