Source: https://rivet.global/blog/malaysia-exporters-bnm-export-proceeds-rules
Published: 2026-10-18 · Updated: 2026-10-18 · By Rashidatou K.

# Malaysian exporters and Bank Negara's export proceeds rules

Malaysian exporters must repatriate export proceeds within six months. What Bank Negara requires today on conversion and holding foreign currency.

## Key takeaways

- Bank Negara Malaysia's Foreign Exchange Policy requires resident exporters to repatriate export proceeds in full within six months of the shipment date.
- Conversion requirements for export proceeds have been introduced, adjusted and relaxed over time; check the current notices.
- Exporters can keep foreign currency in onshore trade foreign currency accounts.
- Foreign currency held onshore can pay for imports and other permitted transactions.

A Johor furniture exporter ships $380,000 of dining sets to a retailer in Texas. Under Bank Negara Malaysia's Foreign Exchange Policy, the proceeds must come back to Malaysia in full within six months of shipment. When they arrive, the exporter's bank checks the current conversion rules and credits the rest to its trade foreign currency account.

## Repatriation

Bank Negara Malaysia's Foreign Exchange Policy (FEP) notices require resident exporters of goods to repatriate export proceeds in full within six months of the shipment date. Extensions need approval. Proceeds are received through onshore licensed banks.

## Conversion

Malaysia has at times required exporters to convert part of their proceeds into ringgit, and has adjusted and relaxed those requirements. Ask your bank which rule applies to proceeds you receive now, and read the current FEP notices.

## Holding foreign currency

Exporters can keep foreign currency in trade foreign currency accounts with onshore banks and use it for imports, foreign currency loans and other permitted payments. Converting a planned amount ahead of payroll gives control over the rate.

## Records

Banks match proceeds against export declarations. Keep customs records, invoices and payment proof per shipment.

## Paying into Malaysia: the local rail

| What | Detail |
|---|---|
| Local rail | DuitNow transfers over RPP |
| Run by | Payments Network Malaysia (PayNet) |
| Settlement | Seconds, 24/7 |

Source: [PayNet: DuitNow](https://www.duitnow.my/). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

Rivet opens business accounts for registered companies after verification. Malaysia-registered exporters must repatriate proceeds under Bank Negara's FEP, so check with your bank before receiving funds abroad. Where available, partners abroad who bank with Rivet can pay Malaysian bank accounts through Rivet's payouts. Rivet is not a bank; regulated partner institutions hold the funds.

## Questions

### How long do Malaysian exporters have to repatriate proceeds?

Six months from the date of shipment, under the Foreign Exchange Policy notices, unless an extension is approved.

### Must exporters convert proceeds into ringgit?

Requirements have changed over time. Check Bank Negara's current FEP notices for the conversion rules that apply to your proceeds.

### Can exporters hold foreign currency?

Yes, in trade foreign currency accounts with onshore licensed banks, and use it for permitted payments.

### Can a Malaysian company keep proceeds abroad?

Generally not beyond what the FEP allows. Proceeds are expected to be repatriated to Malaysia.