Maybank has elevated its cross-border banking proposition as the first bank in Singapore to enable eligible Singapore-based corporate clients to receive, hold and transact in Malaysian Ringgit. This Ringgit Corporate Current Account facility allows businesses with a Maybank Current Account to convert from Singapore Dollar or foreign currency into Malaysian Ringgit, and conduct permitted businesses and investment-related activities in Malaysia. These may include settling trade-related activities, paying for goods and services and funding operations. Clients can also buy and hold Ringgit ahead of payments to manage their currency holdings. The offering will support the growth of economic activities between Singapore and Malaysia, at a time of deepening economic integration between the two countries through the Johor-Singapore Special Economic Zone (JS-SEZ). According to the Malaysian Investment Development Authority (MIDA), Singapore remains Malaysia’s largest immediate source of approved private investments by major foreign investors, contributing MYR93 billion ($22.8 billion; SGD30 billion) in 2025 and MYR40 billion ($9.8 billion; SGD13 billion) in the first half of 2026, with Johor as a key beneficiary. Alvin Lee, Country CEO, CEO of Maybank Singapore said, “Since the announcement of the JS-SEZ, we continue to see growing demand for cross-border banking, payments and treasury solutions. Our landmark Ringgit facility gives corporate clients greater flexibility and control, making it easier to transact across borders. “By reducing friction in business flows, we are contributing to stronger regional supply chains and a more competitive Malaysia-Singapore corridor, while advancing our ROAR30 five-year goals as the preferred bank for Malaysia-Singapore transactions and ASEAN’s leading transaction banking and payments partner.” The initiative reflects Maybank’s commitment to delivering solutions that Humanises Financial Services, building on its recognition at the Euromoney Awards for Excellence 2026 as the World’s Best Bank for Corporate Responsibility, Asia’s Best Bank for ESG and ASEAN’s Best Bank for Large Corporates. There is no initial deposit, minimum balance requirement nor monthly fee for the Ringgit Corporate Current Account. Remittances and transfers from Maybank Singapore to Maybank Malaysia incur no fees. Processing and agent bank charges for eligible transfers to Maybank Malaysia will be waived until further notice. Clients can conveniently access their Ringgit current accounts via Maybank’s business banking channels including the upcoming all-new Maybank2E platform. Availability and usage of the Ringgit Current Account and related services are subject to applicable laws, regulations and regulatory requirements. Re-disseminated by The Asian Banker
