Banking in Malaysia

Information on opening a bank account in Malaysia - what documents to provide - the credit and debit cards, payment methods, cheques and more...

The banking industry in Malaysia is controlled by the Central Bank (Bank Negara Malaysia) in Kuala Lumpur.

Foreign banks are mostly located in main cities, while local banks are available in all major cities and smaller townships.

Malaysia's currency is the Ringgit, which is abbreviated as MYR or RM. Denominations in notes are MYR 100, MYR 50, MYR 20, MYR 10, MYR 5 and MYR 1. Each Ringgit is divided into 100 sen.

  • For information on Malaysian currency from the Central Bank: Click here (PDF)

Major Banks in Malaysia

International banks

Local Malaysian retail banks

There are also a number of Islamic banks such as Bank Islam.

Banking Hours

In general, banks in Malaysia are open Monday to Friday from 09:00 to 16:00, and closed on Saturdays, Sundays, public holidays and on state holidays for banks outside the Federal Territories (Kuala Lumpur, Labuan, and Putrajaya). In some states, banks are open from Sunday to Thursday, and on Saturdays with shorter banking hours.

Some banks have extended banking hours, or are open on Saturday mornings, so check trading hours with the individual bank.