Malaysia - Federal elective constitutional monarchy

Malaysia was formed in 1963 as the Federation of Malaya, with the accession of Singapore, Sabah and Sarawak (Singapore seceded in 1965). Since then, it has been a federal, elected constitutional monarchy. The king (Yang di-Pertuan Agong) rotates uniquely among nine hereditary sultans or rulers every five years. He is the formal head of state, but the actual executive power lies with the prime minister and his cabinet. The parliament is bicameral: the Senate (Dewan Negara) and the House of Representatives (Dewan Rakyat). Members of the House of Representatives are directly elected. The prime minister is the leader of the majority party or coalition in the House of Representatives. Malaysian politics has long been dominated by the Barisan Nasional (formerly the Alliance Party) coalition. However, the 2018 elections brought about a historic change when the Pakatan Harapan coalition won. The political landscape has since become more dynamic. Malaysia is a multicultural and multi-religious country, with Malays, Chinese and Indians as the main ethnic groups. Islam is the state religion, but the constitution guarantees freedom of religion. Malaysia has undergone significant economic development since the 1960s, transforming from an agricultural country into an industrialized, emerging economy. Malaysia is a unique federal elective constitutional monarchy with a diverse society and dynamic political life, and has achieved significant development since its formation.

Malaysia has been a federal elective constitutional monarchy since 1963. The history of its coinage can be divided into several periods, reflecting the political and economic development of the country. At the time of its formation, the Malaya and British Borneo Dollar was the official currency, issued by the Board of Commissioners of Currency, Malaya and British Borneo. These coins and banknotes served as a legacy of the former colonial period. The coins came in various denominations, from cents to dollars. On 12 June 1967, Malaysia introduced its own national currency, the Malaysian Ringgit. The ringgit replaced the Malaysian dollar at a 1:1 ratio. Bank Negara Malaysia (the Central Bank of Malaysia) was responsible for issuing the new currency. The first series of ringgit coins were issued in denominations of 1, 5, 10, 20 and 50 sen, and a 1 ringgit coin was also introduced in 1971. The reverse of the coins featured the Malaysian Parliament Building, while the obverse featured the denomination and year. In the late 1980s, a new series of coins was introduced in 1989. These coins were lighter and smaller than the previous series. The denominations remained, but the design changed, with Malaysian motifs, plants and animals appearing on the reverse, emphasizing the country's natural and cultural richness. The third series of coins, which is still in circulation, was introduced in 2011. These coins represent a modern design, highlighting Malaysia's uniqueness and future-oriented nature. The denominations remained the same (5, 10, 20, 50 sen), but the material composition and dimensions changed slightly. The reverse of the coins still feature Malaysian cultural and natural elements. Bank Negara Malaysia is also responsible for issuing banknotes. Over the years, several series have been issued, reflecting the political and economic changes of the era, as well as the development of security technologies. The banknotes feature a portrait of Malaysia's first ruler, Tuanku Abdul Rahman, as well as typical Malaysian buildings and landscapes. The banknotes currently in circulation are in denominations of 1, 5, 10, 20, 50 and 100 ringgit. Malaysian coinage has undergone significant development since 1963, from colonial heritage to modern coins and banknotes reflecting national identity. Bank Negara Malaysia continuously strives to provide safe and reliable means of payment.