Section 75

enter into contracts;

acquire, purchase, take, hold and enjoy movable or immovable property of every description and may convey, assign, surrender, yield up, charge, mortgage, demise, lease, rent, reassign, transfer or otherwise dispose of, or deal with, any movable or immovable property or any interest vested in the Bank upon such terms as the Bank deems fit;

72 Laws of Malaysia ACT 701

purchase, sell, repurchase, lend or borrow currencies, securities, gold, other precious metals or other commodities or enter into derivatives;

exchange the currencies, securities, gold, other precious metals or other commodities or financial instruments referred to in paragraph (c) for other currencies, securities, gold, other precious metals or other commodities or financial instruments;

purchase, sell, discount and rediscount bills of exchange,

Treasury bills or promissory notes drawn in or outside

Malaysia and maturing within one year from the date of acquisition or such other period as may be approved by the

Minister;

purchase, sell or repurchase any certificate of deposit issued by any financial institution;

act as agent, correspondent or banker for, or open and maintain accounts for, or accept deposits of gold, other precious metals or money in any currency from, any central bank, monetary authority, international financial institution, international monetary authority or other financial institutions outside Malaysia;

open accounts for, and accept deposits of gold, other precious metals or money in any currency from—

the Government, any State Government, public authority or financial institution; or

open and maintain accounts, place deposits of gold, other precious metals or money in any currency with any financial institution in or outside Malaysia, central bank, monetary authority, international financial institution or international monetary authority;

Central Bank of Malaysia 73

undertake on behalf of customers and correspondents the purchase, sale, collection and payment of securities, currencies and credit instruments in and outside Malaysia, and the purchase or sale of gold and other precious metals;

accept from customers for custody securities and other articles of value;

accept assets, including book entry securities, as collateral;

borrow money, establish credits and provide guarantees and indemnities in any currencies, in or outside Malaysia;

issue demand drafts and other kinds of remittances made payable at its own offices and branches or at the offices of agents or correspondents;

invest in securities on behalf of staff and pension funds and other internal funds of the Bank; and

do generally all such things as may be commonly done by bankers.

Business which the Bank may not transact