Malaysia Remittance facts

Remitbee Launches Transfers To Malaysia

Selamat dating! Remitbee is constantly adding countries to our list of options for online money transfers, and Malaysia is one of the most recent additions. Whether your family is from a small town like Kampung Baru Sauk or a large city like Kuala Lampur, Remitbee can transfer funds safely and quickly directly into their bank account. All you need to do is create a free account, verify your identity and enter your personal information and the recipient’s information to get started. We’ll handle the rest! For now though, let’s take a look at one of our newest available counties for transfers: Malaysia.

Malaysia

Although people have been living on the two landmasses that make up current-day Malaysia for at least six thousand years, the majority of the country as we know it today only gained independence from Great Britain in 1957. Six years later in 1963, Malaya, Singapore, the East Malaysian States of Sabah and Sarawak joined to create the nation of Malaysia. The country is comprised of two landmasses in total, Malaysian Borneo and Peninsular Malaysia. This means emigration from Malaysia to Canada has only occurred for about 60 years, creating a small but vibrant population of Malaysian Canadians.

Malaysia has about 31 million citizens, with Ethnic Malays accounting for about half of that population. The country also has a number of large cities that are major tourist travel destinations. Kuala Lampur has just under 8 million people, making it nearly the same size as New York City. It is the capital of the country and the fastest-growing city in Malaysia. George Town of Penang is the second largest city, with roughly 2.5 million, followed by Ipoh, Johor Bahru, Malacca City, Kota Kinabalu, Kuantan and Alor Setar with about half a million residents each. The system of rule is also unique, with a rotating monarchy system passing the crown between nine ethnic Malay state rulers for five-year turns.

The citizens of Malaysia are multicultural, with a mix of native Malays, Chinese descendants and many native tribes represented. The country is officially Islamic, with over 60% of Malaysians identifying as Muslim. Around 20% of Malaysians practise Buddhism, 10% practice Christianity and 6% practice Hinduism. Given the heavy Islamic leaning, the most significant holidays in Malaysia are Islamic holidays, like Eid al-Fitr. People also celebrate Chinese Lunar New Year, Independence Day on August 31, Diwali and Christmas Day.

Malaysian Canadians

On the 2016 census, there were only 16,920 people who identified as being of Malaysian descent, and today there are more than 24,000 Malaysian immigrants in Canada. The majority live in Ontario or British Columbia. Overall, more than 20% of Canadians are immigrants from countries around the globe, a number that grows slowly but steadily each year. Almost everyone working at Remitbee falls under this category, meaning we are uniquely qualified to understand your need to send money home through online money transfer services. We are able to offer some of the lowest exchange rates for Canadian Dollars to Malaysian Ringgits, and have the means to get your money across the world quickly and securely.

Partner Banks in Malaysia

Our money transferring service allows you to transfer money from CAD to RM directly into your loved ones’ Malaysian bank account. Maybank is the largest bank in the country, with the most total assets and the biggest share of the market.

Other large banks include CIMB Bank, Public Bank Berhad, RHB Bank and Hong Leong Bank, in addition to others. Your loved ones just need to have a bank account to receive your funds, they don’t need to live near a branch. Your money is wired directly into their account sometimes as quickly as a matter of hours.

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