Foreign currency denominated account - FCDAs
It is account maintained in another currency other than the currency of the country in which the bank is located. The operation of such an account is subject to Exchange Control Guidelines of the Reserve Bank of Malawi.
- No minimum opening amount
- Interest is negotiable
- Allows client to hedge against exchange rate fluctuations
- Client I able to make foreign payments directly from account
- Client can explore an alternative form of Investments