Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed
4 Pages  1 2 3 > » Bottom

Outline · [ Standard ] · Linear+

> BNM - Forex is illegal in Malaysia, Nazri - Otak ini aku tak boleh

views
     
SUShighlowyat
post Jul 18 2012, 05:02 PM, updated 14y ago

On my way
****
Senior Member
685 posts

Joined: Aug 2011
From: Fairtex Bangplee
user posted image

user posted image
SUSsoundsyst64
post Jul 18 2012, 05:05 PM

I'm No-Longer-Noobs
*******
Senior Member
3,725 posts

Joined: Jul 2005
From: In /hardware/
Listed dalam BNM list
http://www.bnm.gov.my/documents/2012/Senar..._sesawang_n.pdf
empyreal
post Jul 18 2012, 05:05 PM

Look at all my stars!!
Group Icon
Elite
2,036 posts

Joined: Feb 2007
From: KL
when is forex trading illegal?
SUSruffaz
post Jul 18 2012, 05:06 PM

yes I am a noob
******
Senior Member
1,066 posts

Joined: Nov 2008
From: 127.0.0.1
as long as they can tax it, it will be legal.
Mr.Docter
post Jul 18 2012, 05:06 PM

Doctorpreneurs
*******
Senior Member
5,367 posts

Joined: Aug 2009
QUOTE(empyreal @ Jul 18 2012, 05:05 PM)
when is forex trading illegal?
*
Since Mahathir era if I am not mistaken.
Dude Oni Kabuto
post Jul 18 2012, 05:07 PM

Devout Practitioner of Alcoholism
*****
Senior Member
842 posts

Joined: Oct 2004
Whoaaaaaaaaaaaa wait , How did Madhatter get away with the forex trade which cost Malaysia a chunk of money.
deodorant
post Jul 18 2012, 05:07 PM

Surfing LYN instead of Working.
*******
Senior Member
5,691 posts

Joined: Mar 2006
QUOTE(empyreal @ Jul 18 2012, 05:05 PM)
when is forex trading illegal?

i thought all along it has been illegal (i mean all this personal private FX with offshore accounts kind of thing)
lucifah
post Jul 18 2012, 05:07 PM

St. Fu
Group Icon
Staff
7,948 posts

Joined: Jan 2005
From: Soviet Sarawak
forex trading is not illegal

it's just haram, based on malaysian fatwa a few years back. correct me if i'm wrong

just like gambling is legal in malaysia, but haram for muslim

This post has been edited by lucifah: Jul 18 2012, 05:08 PM
SUSsoundsyst64
post Jul 18 2012, 05:09 PM

I'm No-Longer-Noobs
*******
Senior Member
3,725 posts

Joined: Jul 2005
From: In /hardware/
QUOTE(lucifah @ Jul 18 2012, 05:07 PM)
forex trading is not illegal

it's just haram, based on malaysian fatwa a few years back. correct me if i'm wrong

just like gambling is legal in malaysia, but haram for muslim
*
fatwa declared forex is haram for muslim to join. the law approved a few months back.
mi-g
post Jul 18 2012, 05:09 PM

Part-time Troll
******
Senior Member
1,501 posts

Joined: Oct 2004
From: ISA Detention Room -Port Valdez-
QUOTE(lucifah @ Jul 18 2012, 05:07 PM)
forex trading is not illegal

it's just haram, based on malaysian fatwa a few years back. correct me if i'm wrong

just like gambling is legal in malaysia, but haram for muslim
*
yes. because money is use to trading goods, not trading money
SUShighlowyat
post Jul 18 2012, 05:10 PM

On my way
****
Senior Member
685 posts

Joined: Aug 2011
From: Fairtex Bangplee
QUOTE(ruffaz @ Jul 18 2012, 05:06 PM)
as long as they can tax it, it will be legal.
*
Nazri for BNM governer!!
yinchet
post Jul 18 2012, 05:12 PM

If you wish for peace, prepare for war
Group Icon
Elite
1,157 posts

Joined: Jul 2008
From: Petaling Jaya
Forex trading is only illegal when you trade with unauthorized dealer.

Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or do any act which involves, is in association with, or is preparatory to, buying or selling of foreign currency with any person, other than an authorised dealer. It is also an offence for a person to aid or abet another person to buy or sell foreign currency with any person, unless the person is an authorised dealer.

http://www.bnm.gov.my/microsites/fxadmin/c...20070401_06.pdf
SUSPVCpipe
post Jul 18 2012, 05:14 PM

custom made
******
Senior Member
1,362 posts

Joined: Nov 2005
From: k.terengganu.. alone.. with my bass...play.. alone
forex is a scam... like lottery
yinchet
post Jul 18 2012, 05:14 PM

If you wish for peace, prepare for war
Group Icon
Elite
1,157 posts

Joined: Jul 2008
From: Petaling Jaya
QUOTE
Bank Negara Malaysia would like to caution members of the public not to participate in any illegal investment or training programme on foreign currency trading offered by individuals or companies both domestic and foreign.

Members of the public are usually enticed to attend such investment or training programmes with promises of quick and good returns. The modus operandi of such programmes have included:

    Offering free training, seminars or workshops to lure investors, prior to inviting investors to set-up an online foreign currency trading account with a principal company (purported to have valid licence to trade foreign currency overseas);
    Providing convenient access to the principal company's website and trading facilities to facilitate online foreign currency trading by investors;
    Recruitment of fresh graduates as marketing executives and encouraging them to get their family and friends to trade foreign currency; and
    Requiring investors to deposit an amount of money into a bank account to begin trading foreign currency, and subsequently, requesting for a top up on their initial investment ("margin call") to avoid losing their capital.

Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or do any act which involves, is in association with, or is preparatory to, buying or selling of foreign currency with any person, other than an authorised dealer. It is also an offence for a person to aid or abet another person to buy or sell foreign currency with any person, unless the person is an authorised dealer.

The list of authorised dealers and financial institutions permitted by the Controller of Foreign Exchange to buy or sell foreign currency can be obtained from Bank Negara Malaysia's website (http://www.bnm.gov.my).

sosej
SilentSerpent
post Jul 18 2012, 05:16 PM

It sucks to be you
****
Senior Member
699 posts

Joined: Oct 2009
From: Oblivion
so now legal or not?
yinchet
post Jul 18 2012, 05:19 PM

If you wish for peace, prepare for war
Group Icon
Elite
1,157 posts

Joined: Jul 2008
From: Petaling Jaya
QUOTE(SilentSerpent @ Jul 18 2012, 05:16 PM)
so now legal or not?
*
Its is illegal if you buy it from non-authorize dealer. that all.
pandah
post Jul 18 2012, 05:22 PM

Enthusiast
*****
Senior Member
719 posts

Joined: Jul 2011
so this is 1M punya team very legal and safe can invest ?
SUShighlowyat
post Jul 18 2012, 05:22 PM

On my way
****
Senior Member
685 posts

Joined: Aug 2011
From: Fairtex Bangplee
QUOTE(yinchet @ Jul 18 2012, 05:19 PM)
Its is illegal if you buy it from non-authorize dealer. that all.
*
define non-authorize dealer

forex broker is one of them?
yinchet
post Jul 18 2012, 05:23 PM

If you wish for peace, prepare for war
Group Icon
Elite
1,157 posts

Joined: Jul 2008
From: Petaling Jaya
QUOTE(highlowyat @ Jul 18 2012, 05:22 PM)
define non-authorize dealer

forex broker is one of them?
*
if it is register with the BNM than it is authorize not register it is un-authorize.
refer to BNM website for the list. still not sure e-mail to them.
SUSPVCpipe
post Jul 18 2012, 05:24 PM

custom made
******
Senior Member
1,362 posts

Joined: Nov 2005
From: k.terengganu.. alone.. with my bass...play.. alone
my opinion, forex is the new mlm.... somewhere in the future, ppl will corrupt it like ppl do with mlm
« Next Oldest · The Museum Of Kopitiam · Next Newest »
 

4 Pages  1 2 3 > » 
 Bump Topic Add ReplyOptions New Topic
 

Change to:
| Lo-Fi Version
 0.0158sec    0.76    5 queries    GZIP Disabled
Time is now: 15th December 2025 - 10:32 AM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.