Maybank has unveiled a pioneering Ringgit Corporate Current Account in Singapore, enabling eligible corporate clients to receive, hold, and transact in Malaysian Ringgit. This facility allows businesses with a Maybank Current Account to convert from Singapore Dollar or other currencies into Malaysian Ringgit, facilitating trade, payments, and operational funding in Malaysia.
This initiative comes amid increasing economic integration between Singapore and Malaysia, particularly through the Johor-Singapore Special Economic Zone (JS-SEZ). According to the Malaysian Investment Development Authority, Singapore is Malaysia’s largest immediate source of approved private investments, contributing RM93b (S$30b) in 2025 and RM40b (S$13b) in the first half of 2026, with Johor as a key beneficiary.
Alvin Lee, CEO of Maybank Singapore, stated, “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.”
The account requires no initial deposit, minimum balance, or monthly fee. Transfers from Maybank Singapore to Maybank Malaysia are fee-free, with processing charges waived for eligible transfers. Clients can access their accounts via Maybank’s business banking channels, including the upcoming Maybank2E platform.
This development underscores Maybank’s commitment to enhancing regional supply chains and strengthening the Malaysia-Singapore economic corridor, aligning with its ROAR30 goals to be ASEAN’s leading transaction banking partner.
