<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on March 28, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Bank Negara Malaysia (BNM) is looking at introducing a limit for cash transactions in Malaysia. It is still studying to either implement a single limit or multiple limits, according to the governor Datuk Nor Shamsiah Mohd Yunus.</p></div>

<div class=newsTextDataWrapInner><p>Such a limit will be an additional measure to mitigate the risk of abuse of cash for criminal activities.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>However, BNM has yet to reveal details on the implementation of the cash transaction limit. Also, the scope of the transactions have yet to be defined as well.</p></div>

<div class=newsTextDataWrapInner><p>Nor Shamsiah said that the central bank will be seeking public consultation by the third quarter of this year.</p></div>

<div class=newsTextDataWrapInner><p>The consultation is to get feedback on the implementation of a cash transaction limit, including a suitable limit to be imposed or if this cash transaction limit is even desirable.</p></div>

<div class=newsTextDataWrapInner><p>One of the measures that has been taken by the central bank to address the risks of money laundering, is to reduce the cash transaction reporting threshold to RM25,000 from RM50,000. It is effective Jan 1 this year.</p></div>


KUALA LUMPUR: Bank Negara Malaysia (BNM) is looking at introducing a limit for cash transactions in Malaysia. It is still studying to either implement a single limit or multiple limits, according to the governor Datuk Nor Shamsiah Mohd Yunus.

Such a limit will be an additional measure t...

BNM wants to impose a limit on cash transaction

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