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remittance business "remittance business" means the business of transferring funds or facilitating the transfer of funds, whether in any form or by any means or whether there is any movement of funds or not, on behalf of an originator person in or outside Malaysia, with a view to making the funds available to a beneficiary person in or outside Malaysia and the originator person and the benefi ciary person may be the same person, but excludes such other businesses, activities, systems or arrangements as the Bank may prescribe;
ACT 731 - MONEY SERVICES BUSINESS ACT 2011
2. Interpretation |
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remittance business "remittance business" has the same meaning as assigned to it in section 2 of the Money Services Business Act 2011.
PU(A) 396/2011 - EXCHANGE CONTROL (REMITTANCE BUSINESS) (EXEMPTION) ORDER 2011
2. Interpretation |