Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz stated that the decision on whether exporting companies should be required to convert their export proceeds into ringgit lies with Bank Negara Malaysia (BNM). He acknowledged concerns regarding companies retaining their proceeds in US dollars, noting that such capital control measures fall under BNM's discretion. Tengku Zafrul emphasised the importance of showing confidence in the Malaysian currency, particularly among local and government-linked companies, while recognising the impact of the interest rate differential on these decisions.UP TO BNM TO DECIDE WHETHER EXPORTERS MUST CONVERT PROCEEDS INTO RINGGIT – ZAFRUL
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz stated that the decision on whether exporting companies should be required to convert their export proceeds into ringgit lies with Bank Negara Malaysia (BNM). He acknowledged concerns regarding companies retaining their proceeds in US dollars, noting that such capital control measures fall under BNM's discretion. Tengku Zafrul emphasised the importance of showing confidence in the Malaysian currency, particularly among local and government-linked companies, while recognising the impact of the interest rate differential on these decisions.
