Bank Negara is liberalising the foreign exchange administration rules to enhance the economy’s competitiveness and further develop the domestic financial market. The liberalising measures will only come into effect around mid-2013 when the Financial Services Act (FSA) and Islamic Financial System Act (IFSA) come into force.
The measures include allowing residents to freely invest in onshore foreign currency-denominated assets to spur the domestic foreign exchange market through greater demand for foreign currency products and services………………………………………..Full Article: Source