What are the features of a Demand Draft?

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What are the features of a Demand Draft?

Transferring funds within and outside the country
If funds are to be sent abroad, the draft is drawn on a bank in a foreign country in the appropriate currency
Demand Draft is paid for by the customer at the time of issue. The customer sends the draft to the payee who presents it at the drawee bank for payment
Types of Demand Draft:-
1. Local Demand Draft (RM)
2. Foreign Demand Draft (foreign currency)
For issuance of MIDF and MIH shares issue

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