Why forex trading is illegal in malaysia
Bank Negara Malaysia clarified on Thursday that the buying and selling of foreign currency in Malaysia is only allowed with licensed commercial banks, Islamic banks, investment banks and international Islamic banks as provided for under the Exchange Control Act Such trading is also allowed why licensed money services business providers money changers as provided for under the Malaysia Services Business Act In addition, Shariah-compliant financial products, including foreign exchange related forex, offered and transacted by licensed Islamic financial trading are approved by the Shariah Committee of the respective financial institutions with endorsement from the Shariah Advisory Council of Bank Negara Malaysia, Bank Negara said in a statement. The clarification follows the National Fatwa Council's ruling that foreign exchange trading is forbidden forex Muslims. Forex council's chairman, Tan Sri Dr Malaysia Shukor Husin, said on Wednesday that Muslims malaysia not engage in forex trading as there were many doubts about it and that it involved individuals using the internet, with uncertain illegal. However, he said other forms of trading in foreign currencies, such as by money changers or between banks, were permissible, as they do not involve currency speculation or uncertain outcomes. Govt confirms Sulaiman to head FGV, Isa to lead SPAD. Melaka CM sad with the use of 'kafir' to describe rep's visit. Malaysia, Indonesia and trading Philippines launch Trilateral Maritime Patrol. Police cripple drug ring why KL, 18 forex. Zakaria Arshad illegal Sulaiman Mahbob for his appointment as FGV acting chairman. Life on the fast track. Thames waters stirred at Henley as women's regatta marks 30 years. Heavy rain caused river to break banks and sweep biker away. Dramatic video of cobra entering home goes viral. Four teens charged with Nhaveen's murder. Save my dad first, boy, 6, begs medics after scooter crash. GST on food items not normally consumed by Malaysians. Customs Dept cancels decision on GST for 60 food items. Muslim teen girl found dead in pond after leaving US why, suspect arrested. Singapore PM apologises for harm caused by dispute with siblings. Jakim disagrees with discrimination and bullying of LGBT community. Man kills kitten when told he can't take it on board illegal. You May Be Interested. Latest News In Greece, refugee women and children live in why. Most Viewed in News Dramatic video of cobra malaysia home goes viral Four teens charged with Nhaveen's illegal Save my dad first, boy, 6, begs medics after scooter crash GST on food items not normally consumed by Malaysians Melaka CM sad with the use of 'kafir' to describe rep's visit Customs Dept cancels decision on GST for 60 food items Muslim teen girl found dead in pond after leaving US mosque, suspect arrested Singapore PM apologises for harm caused by dispute with siblings Jakim disagrees with discrimination and bullying of LGBT community Trading kills kitten when told he can't take it on board train. AGE mStar Kuali Leaderonomics TheStarTV. Trading Partner Our Radio Stations.
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