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Revision on FD/TD-i interest/profit on premature withdrawal/early settlement
For Ringgit Fixed Deposit, Ringgit Fixed Deposit-i or Ringgit Time Deposit-i placed on and after 5 March 2018 no interest /profit will be paid at all for premature withdrawal/early settlement made on or after 1 January 2019. Premature withdrawal/early settlement made before 1 January 2019, as well as all placements made before 5 March 2018 will not be affected by this revision.
Special Deposit Facility to Remain until 31st March 2018
From 1 January 2018 all ringgit proceeds from export conversion (i.e. the 75% conversion for export proceeds on goods) will be credited to your basic current account/current account-i instead of to your SDF account. BNM has announced that SDF accounts will not be offered after 31 December 2017. Any remaining balance in your SDF account as at 31 December 2017 can continue to earn a rate of return at 3.1% p.a up to 31 March 2018 when the SDF account will be closed.
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Effective 01 November 2016, our Velocity Classroom Training will be upgraded to WebEx. Click Here to learn more about our WebEx training.
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FATCA (Foreign Account Tax Compliance Act)