Foreign Currency Account
Local exporters, individuals or organisations fully or partially funded by external sources, Malawians living abroad and any Malawian earning income in foreign currency.
Product Attributes/ Features
- No minimum balance requirement
- Withdraw in local currency through Malawi Kwacha operating account
Benefits To The Customer/User
- Interest is negotiable
- Can be used to hedge against currency fluctuations
- Customer can hold funds in this account and only convert when conditions are favourable.
Costs To Access The Product
Account Opening Requirements
- Account opening forms
- KYC documentation as advised by the bank
Terms and Conditions
- Customer has to maintain a Malawi Kwacha operating account
- Account to operate in compliance with RBM Exchange Control Regulations