Malaysian Financial system-FEA

Resident entities are free to borrow any amount of foreign currency from:

i.  Licensed on shore banks

        ii. Resident or non-resident non-financial institution entities within the group of entities

        iii. Resident or non-resident direct shareholders

        iv. Another resident through issuance of foreign currency debt securities

• i & ii

• ii & iii

• i, ii & iii

• all of the above

What is the maximum aggregate amount of foreign currency a resident    

      individual can borrow other than from immediate family?

 

     

• RM1.0 million or equivalent

• RM10.0 million or equivalent

• RM5.0 million or equivalent

• RM50.0 million or equivalent

Under the FEA, immediate family members will cover the following:

 

      i.  Parents

      ii. Spouses

      iii. Children

      iv. Siblings

• i only

• ii & iii

• iii & iv

• all of the above

A resident is:

 

      i.  Free to buy or sell RM against FC with a licensed onshore bank

      ii. Prohibited to buy or sell RM against FC from International Islamic Bank

      iii. Free to buy or sell FC against FC with a licensed onshore bank

      iv. Free to buy or sell RM against FC on spot or forward basis either on firm or   

           anticipatory commitment basis

•    i and ii only

• iii and iv only

• i, ii and iii only

• all of the above

Which of the following statements are true pertaining to FC    

       accounts by residents? 

       i.  Resident entities and resident individuals are free to open FC Accounts with licensed      

           on shore banks and non-resident banks

       ii. No restrictions on the source of FC funds to be credited in FC Accounts with a licensed   

           onshore banks

       iii. A resident can maintain a FC Account individually

       iv. A resident can maintain a FC Account with another resident individual and with a   

            non-resident immediate family member

•       i and ii only

• iii and iv only

• i, ii and iii only

• all of the above

A resident entity is free to obtain borrowings from Non-residents for   

      use in Malaysia in real sector:

 

      i.   Any amount in RM from non-resident entity within its group of entity

ii.  Any amount in RM from its non-resident direct shareholder

iii. Up to RM1.0m from non-resident

iv. Up to RM1.0m from non-resident financial institutions

• i & ii

• iii & iv

• i, ii, & iii

• all of the above

Which of the following statements are     

       true about export of goods and services?

 

       i.   All export proceeds must be repatriated to Malaysia in full as per sales contract which

            must not exceed 6 months form date of export

       ii.  All export proceeds must be repatriated to Malaysia in full as per sales contract which  

            must not exceed 9 months form date of export

       iii. Settlement with non-resident can be undertaken in RM

       iv. Settlement with non-resident can be undertaken in FC

 

• i only

• iii & iv only

• i, iii and iv only

• all of the above

Which of the following statements applicable to a non-resident:

 

i.  Are free to obtain FC financing from licensed onshore bank in Malaysia

ii. Proceeds from para i. could be utilized in or outside Malaysia

iii. Are allowed to issue FC denominated sukuk/bonds for use in or outside Malaysia

iv. Are allowed to buy and sell RM with licensed international Islamic bank

 

• i & ii

• iii & iv

• i, ii & iii

• all of the above

A non-resident is allowed to:

 

i.  ^{Open FC accounts with licensed onshore banks in Malaysia}

^{ii. Open RM account in Malaysia}

^{iii. Remit freely abroad in foreign funds from FC accounts in Malaysia}

^{iv. Remit freely abroad in RM from FC accounts in Malaysia}

 

• i & ii

• iii & iv

• i, ii & iii only

• all of the above

Which of the following statement is/are true for resident investment in foreign currency assets?

       i.   Residents are free to undertake investment abroad using FC funds sourced from  

            abroad

       ii.  Resident without domestic borrowing are free to invest abroad

       iii. Resident with domestic borrowing who convert RM to FC are free to invest abroad

       iv. Resident are free to undertake direct investment from FC borrowing obtained from  

            licensed onshore bankers or licensed International Islamic Banks

 

A.      I and ii only

• i & ii

• iii & iv

• i, ii and iii

• all of the above