Such a limit will be an additional measure to mitigate the risk of abuse of cash for criminal activities.
However, BNM has yet to reveal details on the implementation of the cash transaction limit. The scope of the transactions has yet to be defined as well.
Nor Shamsiah, who revealed this at a media briefing after the release of the the central bank’s Annual Report 2018 on Wednesday, said the bank will be seeking a public consultation on the matter by the third quarter of this year.
Read More.. Source The Edge Markets