Bank Negara relaxes rules for overseas investment

BY IZATUN SHARI

KUALA LUMPUR: Malaysian individuals and corporations
who are debt-free can now take any amount of their money
abroad effective April 1.

Previously, individuals could only repatriate up to RM10,000
overseas without obtaining permission from Bank Negara.
Credit card debt and housing and car loans are not considered
as debt or credit facilities.

This relaxation for investment abroad, announced by Bank Negara
governor Tan Sri Dr Zeti Akhtar Aziz yesterday, is part of the
central bank's continuous effort to reduce the regulatory cost of
doing business and enhance efficiency of the delivery system.

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