Malaysia Domestic Foreign Exchange Bank of the Year
RHB Bank -The Sky’s The Limit With Our Innovation
Kellee Kam Managing Director, RHB Banking Group
I
n December 1996, RHB BANK account. However, RHBMCA did not became the pioneer in introducing stop at just offering 16 types of currencies or allowing multiple pairs in foreign the RHB Multi Currency Account, exchange structured investments. In 2012, in short RHBMCA, as a short and longwe incorporated a feature which NO other term interest-bearing account that offers customers the opportunity to hold more banks in Malaysia has offered, and this was to include precious than one foreign currency in a single account. Available at “RHBMCA has evolved metal investment i.e. Paper Gold into RHBMCA. In from a basic to a any RHB branch throughout addition, Paper Silver will versatile account; so Malaysia, this account was specifically designed for versatile that its covers be part of this account by the end of 2013 as well as 5 out of 7 continents’ personal and/or company with foreign exchange currencies or 16 foreign Gold DCI in 2013/14. We also have in the pipeline to currencies.” requirements. Features include FX Margin Trading of the said account were basic in nature in the 90’s, such as to make features into RHBMCA. RHBMCA can also be further segregated short and long-term deposits in foreign into different types of usage and recurrencies, conversion into Ringgit, and/or categorised into various accounts for remittances in foreign currencies. companies to segregate their receivables Since then, RHBMCA has evolved from into export and non-export purposes, for a basic to a versatile account; so versatile better management of company foreign that its covers 5 out of 7 continents’ exchange proceeds. As a personal account, currencies or 16 foreign currencies to be exact. In 2006, RHBMCA introduced it can be segregated into investment and/or educational purposes. another breakthrough feature in allowing RHBMCA is a perfect hedging account customers to invest in Dual Currencies Investment (“DCI”) in RHBMCA, a for overseas payments or receivables and/ structured investment with multi currency or investment in foreign currencies. This account provides customers with the pairs for higher return in a hassle-free 68 ASIAN BANKING AND FINANCE | DECEMBER 2013
option of buying low and selling high, or to hold any positions to minimise any foreign exchange losses and at the same time maximize gains for the same reason. Imagine without this account, any incoming funds need to be converted immediately whether the exchange rate is in or against your favor. RHB BANK is continuously striving to improve this account’s versatility by offering new currencies. Additionally, the Bank is constantly developing new features to include into this account, such as MCA Silver Investment, FX Margin Trading and Gold DCI, which are currently in the pipeline. RHBMCA is truly a versatile multi currency account designed to ease our customers through this current structure and demanding investment environment. Hence, all the above, can be easily handled under one account and one consolidated statement with online function enabled.
CONTACT RHB Bank Berhad RHB Centre, Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia Tel : RHB Customer Call Center 24/7 at 1 300 888 742 Website : www.rhbgroup.com