Effective 2024, all payments made to CAAM must be transacted in Malaysian Ringgit (MYR) only. This decision has been made to adhere to the Malaysian Civil Aviation (Fees & Charges) Regulations 2016. Every fee & charge charged must be paid in Ringgit Malaysia (RM) and stakeholders must ensure that all payments in foreign currency must be equivalent to the amount of fees & charges in Malaysian Ringgit value.
Guidelines and Requirements for Invoice Payments in Malaysian Ringgit (MYR):
• Currency Restriction: All payments to CAAM must be made exclusively in Malaysian Ringgit (MYR). Payments in any other currency will not be accepted.
• Exchange Rates: For international transactions, please ensure that the applicable exchange rates are considered when making payments in MYR. CAAM will not be responsible for any discrepancies arising from fluctuations in exchange rates.
• Payment Methods: CAAM accepts payments through various methods, including but not limited to bank transfers, cheques, and online payment platforms (Western Union, Wise, etc). Ensure that the chosen method complies with CAAM's payment guidelines.
• Bank Details: Please refer to the CAAM bank account details provided below. Use these details when making payments to ensure accuracy and prompt processing.
Account No.: 3811340215
Account Name: CAAM
Bank Name: Public Islamic Bank
Swift Code: PBBE MYKL XXX
Bank Address: No. 66, Jalan Diplomatik, Presint 15, 62050 Putrajaya
Telephone: +603 8887876
• Invoice Reference: Always include the relevant invoice reference number when making payments. This helps in the swift identification and allocation of funds to the correct transaction.
• Compliance: Ensure that all payments adhere to the financial regulations and compliance standards applicable in your region.
• In cases where clients made payments in USD, we would only process it in MYR following the exchange rate at the time of receipt. Any shortfall of the amount due to the exchange rate will be considered as partial payment, and any excess amount will be considered as advance payment or deposit.
Please advise us if you have issues processing the payment in Malaysian Ringgit.
