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APPENDIX 6FOREIGN EXCHANGE POLICY (FEP) DECLARATION FORM IN COMPLIANCE WITH SECTION 225 IFSA 2013 AND BANK NEAR MALAYSIA
(BNM) FEP NOTICES
NOTICE 2 DECLARATION ON BORROWING AND GUARANTEE
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Obtain the foreign exchange policy declaration form from the relevant authority.
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Fill out the form completely and accurately, providing all required information.
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Who needs foreign exchange policy declaration?
01
Individuals or businesses that engage in foreign currency transactions and need to comply with regulatory requirements.
02
Entities involved in international trade or investment that require documentation of their foreign exchange policies.
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What is foreign exchange policy declaration?
Foreign exchange policy declaration is a formal statement or document that outlines a country's policies and regulations regarding the buying and selling of foreign currencies and the management of foreign exchange reserves.
Who is required to file foreign exchange policy declaration?
Individuals and businesses engaged in foreign exchange transactions, particularly importers, exporters, and financial institutions, are typically required to file foreign exchange policy declarations.
How to fill out foreign exchange policy declaration?
To fill out a foreign exchange policy declaration, one must provide relevant details such as personal or business information, transaction types, amounts, purpose of the transactions, and supporting documentation as required by the regulatory authority.
What is the purpose of foreign exchange policy declaration?
The purpose of the foreign exchange policy declaration is to ensure compliance with national regulations, monitor foreign exchange transactions, prevent money laundering, and effectively manage currency reserves.
What information must be reported on foreign exchange policy declaration?
The declaration must include information such as the identity of the filer, nature and purpose of transactions, amounts involved, the currencies being exchanged, and any other specifics required by the regulatory authorities.
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