Foreign Currency Denominated Account (FCDA)

Service/Product Target

Local exporters, individuals or organisations fully or partially funded by external sources, Malawians living abroad and any Malawian earning income in foreign currency.

Product Attributes/ Features

  • No minimum balance requirement
  • Withdraw in local currency through Malawi Kwacha operating account

Benefits To The Customer/User

  • Interest is negotiable
  • Can be used to hedge against currency fluctuations
  • Customer can hold funds in this account and only convert when conditions are favourable.

Costs To Access The Product

None

Account Opening Requirements

  • Account opening forms
  • KYC documentation as advised by the bank

Terms and Conditions

  • Customer has to maintain a Malawi Kwacha operating account
  • Account to operate in compliance with RBM Exchange Control Regulations

mission-vision

 Vision

To be the most successful financial institution in Malawi with an internationally visible presence.

Mission Statement

To provide outstanding and inclusive financial solutions that deliver sustained stakeholder value.