I want to invest in malaysia.For this i want to transfer money nearly 3 to 4 crore from the pakistan. Plz inform me abt the procedure of transferring of money from pakistan.Thanx
Hello Saqib,
You need to do it through the bank, otherwise you might get accused of money laundering.
Regards, z@in N@deem
Well, the option of hundi is always there if the money is undeclared here in Pakistan...but be advised that the going rate for dollar in the hundi market these days is Rs 106-7 in wholesale plus the transfer fee.
However if you intend to invest this money in Malaysia, you must use wire transfer, otherwise you will get into trouble with International/Malaysian authorities as Mr Zain has pointed out. Cost of a wire transfer isnt much, about 50-60 dollars I think for most banks. If the money is held in rupees, you will need to purchase dollars from the open market. You should talk to your banker about it, I am sure he will guide you. Good Luck.