| FAQs on Remittance |
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| A remittance is a mode of forwarding money to a person in another country. Examples include sending money to children studying overseas, sending money by foreign workers to families at their home country or payments made for the import of goods and services. |
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Can I send money to the family of my maid who lives in Indonesia? |
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| Yes. This can be done through the following institutions: |
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Banking institution |
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1. All commercial & Islamic banking institution |
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2. Bank Simpanan Nasional |
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Non-Banking institutions |
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1. Agrani Remittance House Sdn Bhd |
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2. IME (M) Sdn Bhd |
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3. Pos Malaysia Berhad |
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4. Prabhu Remit Sdn Bhd |
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5. Merchantrade Asia Sdn Bhd |
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Can a licensed money changer send money to Indonesia or Bangladesh on behalf of the Indonesian & Bangladeshi workers in Malaysia? |
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| No. Licensed money changers are not permitted to conduct remittance activities under the Money Changing Act 1998. |
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What are licensed money changers allowed to do? |
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| Licensed money changers are only allowed to: |
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Buy and sell foreign currency notes and coins |
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Buy travellers' cheques |
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What risks do I face if I remit money through unauthorised dealers? |
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| If you remit money through unauthorised dealers, you may face the risk that the money you sent does not reach the person to whom you sent the money to and you may not have any recourse against the dealer if there are no documents or proof of the transaction. |
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