Munawarah Exchange Sdn Bhd formerly known as Forex Munawarah was established in 2000 and under Act 577 by the Laws of Bank Negara Malaysia (BNM). The experience acquired since the 1980 make Munawarah Exchange as a successful money-changing company and provide the best exchange rates to customers. This business was started in the early 80s by purchasing foreign currency on a small scale at the request of tourist in the town of Lumut, Perak. Over the last six years, Munawarah Exchange began to look forward for more advanced and competitive position towards the better future. Munawarah Exchange is one of the member of the Malaysian Association of Money Services Business (MAMSB), and so the company can share their experiences, and policies have to be on the right track. Munawarah Exchange for see this business have a great potential to expand and will continue to do this business since customer demand are increasingly from time to time. In 2013, the Bank Negara Malaysia (BNM) has authorized Munawarah Exchange active in another service called “Remittance”. For Remittance Services, Munawarah Exchange will cooperate with Merchantrade Asia Sdn Bhd as an agent for remittance. In mid-2014, Merchantrade Asia Sdn Bhd allows Munawarah Exchange to carry out remittances to the rest of the world through “MoneyGram”. This proves that Munawarah Exchange are a trusted entity in the industry. In the third year, Munawarah Exchange has opened a branch in Bandar Sri Manjung, Perak (2012) and Ayer Tawar, Perak (2014). Currently Munawarah Exchange already has 5 branches and all are centralized at Headquarters’ of Munawarah Exchange at Sitiawan, Perak. Munawarah Exchange is committed and prudent. They have a strong support from Bank Negara Malaysia (BNM) and also from other regional and international development financial institutions. The company has earned recognition from the development community as a vehicle to spearhead and catalyse development.
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