We refer to Reuters' article entitled,"Malaysia demands foreign banks commit to stop offshore ringgit trading".

Bank Negara Malaysia issued a press statement entitled, "Prohibiting facilitation of NDF related transactions" on Sunday, 13 November 2016.

As per the statement issued on Sunday, in relation to the foreign funds and asset managers, they are advised to contact Malaysian licensed banks for advice and execution of any foreign exchange transactions. There is no further change to this position.

No letter was sent to financial institutions on Saturday.

Bank Negara Malaysia has requested through onshore banks that any non-resident banks which transact in the forex market to attest that they are not and will not engage in NDF related transactions.