Document background
The Deposit Gift Letter is a crucial document in Malaysian financial and property transactions where one party wishes to gift money to another, often for property purchases or significant life events. This document serves multiple purposes: it provides clear evidence of the gift's voluntary nature, helps prevent future disputes about the money's status, and satisfies banking and regulatory requirements for anti-money laundering compliance. The letter is particularly important in property transactions where banks need to verify the source of deposit funds. It must comply with Malaysian banking regulations, contract law, and where applicable, Islamic law principles. The document typically includes detailed information about both parties, the gift amount, transfer details, and various declarations about the gift's nature and source of funds.
