Malaysian central bank liberalises forex regime
New governor also signals end to policy of forcing cap on foreign ownership of insurance firms
Malaysia’s central bank has announced a major liberalisation of the country’s foreign exchange regime.
The central bank’s new governor also said she would modify her predecessor’s policy of ordering insurance companies to cap their level of foreign ownership at 70%.
The liberalisation of forex regulations includes a number of significant policies. Malaysian exporters will now be allowed to keep foreign-denominated earnings to meet up to six months’ obligations without having to convert them
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