Hong Leong Islamic Bank - Foreign Currency Current Account-i

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  • Current Account-i >
  • Foreign Currency Current Account-i
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Protect your savings against exchange rate fluctuations

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Product Information

Foreign Currency Current Account-i (FCCA-i) is an excellent way for you to manage the risk associated with foreign currencies. It adopts the Shariah principle of Tawarruq.

 

*Tawarruq is an arrangement which consists of two (or multiple) sale and purchase contracts. The first involves the sale of an asset by a seller to a purchaser on a deferred basis. Subsequently, the purchaser of the first sale will sell the same asset to a third party on a cash and spot basis.

Member of PIDM. Protected by PIDM up to RM250,000 for each depositor.

Features & Benefits

Benefits of FCCA-i:

  • Protect your savings against exchange rate fluctuations
  • Enjoy Preferential Forex Conversion (FOREX) Rates
  • Avoid double exchange rate conversions for foreign remittances
  • Potential gain in foreign exchange depending on market condition

Range of Foreign Currencies:

 Currencies

 Minimum Opening Amount

 US Dollar (USD)

 USD 1,000

 Australian Dollar (AUD)

 AUD 1,000

 British Pound (GBP)

 GBP 1,000

 European Euro (EUR)

 EUR 1,000

 Singapore Dollar (SGD)

 SGD 1,000

 Japanese Yen (JPY)

 JPY 100,000



Eligibility

  • The FCCA-i is opened to non individual (business and corporate entities)”

Fees and Charges

No

Description / Service

Charges/ Fees
a. Close Account by Customer (within 6 months from account opening) RM 20
b. Changes to Account RM 10 per account
c.

Dormant Account

  • Balance below RM 10.00
  • Balance of RM 10.00 and above

 

Account closed and balance absorbed as service charge

RM 10 yearly

*Subject to Government Tax, if applicable

Terms & Conditions

General Terms and Conditions of Accounts - Deposits and Islamic Banking Deposits
Foreign Currency Current Account-i - Terms & Conditions
Terms and Conditions for Hong Leong Current Account-i and Savings Account-i

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