Bank Negara to fully implement more flexible funds repatriation, conversion programme on July 1
KUALA LUMPUR: Bank Negara Malaysia is set to fully implement its Qualified Resident Investor (QRI) programme for eligible corporates effective July 1.
The programme offers flexibility for Malaysian companies that repatriate and convert foreign currency funds from overseas investments and may have interest to undertake new or further direct investment abroad in the future.
To enjoy the flexibility, the companies must first bring home any foreign earnings from their overseas investments and convert that money into ringgit upon successful one-off registration with Bank Negara.
These companies can then invest more money abroad later without needing to ask the central bank for approval each time.
"Eligible corporates include all resident corporates that repatriate and convert foreign currency proceeds from overseas investments and demonstrate good corporate governance and compliance with the foreign exchange policy of Bank Negara," it said in a statement.
The programme will be available until June 30, 2028.
The full rollout follows the success of the pilot programme, which was introduced in April 2024.
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