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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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