Why did Instarem raise its B2B transaction limit in Malaysia, and who authorised the increase, along with the reasons for Bank Negara Malaysia’s approval?
Instarem raised the B2B transaction limit to enhance client service, offering increased flexibility and convenience for B2B transactions. This limit increase received approval from Bank Negara Malaysia, which was granted based on Instarem’s rigorous adherence to the regulations outlined in the Money Services Business Act 2011 (APPWL) and the Money Services Remittance Business Regulations (Amendment) 2015. Our robust processes, systems, and internal controls are designed to ensure the safety and security of B2B transactions, including client due diligence and know-your-business (KYB) procedures.
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