BANKERS LOVE MONEY

Beware of Illegal Foreign Currency Trading Schemes

Bank Negara Malaysia would like to caution members of the public not to participate in any illegal investment or training programme on foreign currency trading offered by individuals or companies both domestic and foreign.

Members of the public are usually enticed to attend such investment or training programmes with promises of quick and good returns. The modus operandi of such programmes have included:

Offering free training, seminars or workshops to lure investors, prior to inviting investors to set-up an online foreign currency trading account with a principal company (purported to have valid licence to trade foreign currency overseas);

Providing convenient access to the principal company's website and trading facilities to facilitate online foreign currency trading by investors;

Recruitment of fresh graduates as marketing executives and encouraging them to get their family and friends to trade foreign currency; and

Requiring investors to deposit an amount of money into a bank account to begin trading foreign currency, and subsequently, requesting for a top up on their initial investment ("margin call") to avoid losing their capital.

Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or do any act which involves, is in association with, or is preparatory to, buying or selling of foreign currency with any person, other than an authorised dealer. It is also an offence for a person to aid or abet another person to buy or sell foreign currency with any person, unless the person is an authorised dealer.

The list of authorised dealers and financial institutions permitted by the Controller of Foreign Exchange to buy or sell foreign currency can be obtained from Bank Negara Malaysia's website (http://www.bnm.gov.my).

For further enquiries, members of the public can contact Bank Negara Malaysia at:

BNMTELELINK (Customer Service Call Centre)
1-300-88-5465 or
E-mail: bnmtelelink@bnm.gov.my

articles from BNM website

2010

DEVELOPMENT FINANCIAL INSTITUTION (DFIs)

DFI function is to provide long term funds/loan especially in manufacturing and agriculture sector. DFI funded by state or federal government and governed by the Development Financial Institutions Act 2002.

There are six DFI in Malaysia:-

1) Bank Pembangunan Malaysia Berhad
2) SME Bank
3) Export-Import Bank of Malaysia Bhd
4) Bank Rakyat
5) Bank Simpanan Nasional
6) Agrobank

Other DFIs

1) MIDF Berhad
2) CGC
3) Lembaga Tabung Haji
4) Sabah Development Bank Berhad
5) Sabah Credit Corporation Berhad

MONEY BROKERS & OTHER FINANCIAL INSTITUTION

MONEY BROKERS

1) Affin Money Brokers Sdn Bhd
2) Amanah Butler Malaysia Sdn Bhd
3) First TAZ Tradition Sdn Bhd
4) Forex Enterprise Sdn Bhd
5) Fulton Pribon (M) Sdn Bhd
6) Harlow's & MGi Sdn Bhd
7) KAF -Astley & Pearce Sdn Bhd


OTHER FINANCIAL INSTITUTION

1) ERF sdn Bhd

HQ Address:
Tingkat 7 & 9, Bangunan Sime Bank, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
Telephone: 603 2078 1378
Facsimile : 603 2072 1411



2) Pengurusan Danaharta Nasional Berhad

HQ Address:
Tingkat 10, Bangunan Setia 1, 15, Lorong Dungun, Bukit Damansara, 50490 Kuala Lumpur
Telephone: 603 253 1122
Facsimile : 603 253 7482

INTERNATIONAL ISLAMIC BANK

In Malaysia there are two international islamic bank (own by foreign co.):-

1) PT Bank Syariah Muammalat Indonesia
2) Unicorn International Islamic Bank Malaysia Berhad

ISLAMIC BANKS

Islamic bank in Malaysia:-

(Own by local co)

1) Affin Islamic Bank
2) Alliance Islamic Bank
3) Amislamic Bank
4) Bank Islam
5) Bank Muammalat
6) CIMB Islamic Bank
7) EONCAP Islamic Bank
8) Hong Leong Islamic Bank
9) Maybank Islamic Bank
10) Public Islamic Bank
11) RHB Islamic Bank

(Own by foreign Co)

1) Al Rajhi Banking & Investment
2) Asian Finance Bank
3) HSBC Amanah M'sia
4) Kuwait Finance House (Malaysia)
5) OCBC Al Amin Bank
6) Standard Chartered Saadiq