KUALA LUMPUR, May 9 (Bernama) -- Bank Islam Malaysia Berhad (“Bank Islam”) is revising its Base Rate (“BR”) by 26 basis points from 4.03% to 3.77% per annum, while its Base Financing Rate (“BFR”) is reduced from 6.98% to 6.72% per annum with effect from 10 May 2019.

Bank Islam’s Chief Executive Officer, Encik Mohd Muazzam Mohamed said the rate revision was due to the reduction in Bank Negara Malaysia's Overnight Policy Rate (“OPR”) by 25 basis points to 3.00%. The revision will be beneficial to our customers who have financing pegged to the BR / BFR as the effective profit rate will be adjusted downwards accordingly which translates to a lower instalment amount. This is in line with the recent government aspiration to help improve the people’s cost of living as well as boosting economic activities.

For further information, please visit www.bankislam.com.my 

About Bank Islam Malaysia Berhad
Bank Islam Malaysia Berhad was established in 1983 as the nation’s first Islamic bank. To date, the Bank has a network of 149 branches and more than 1,000 self-service terminals nationwide. To meet the diversity of the public’s financial needs, Bank Islam offers more than 70 Shariah-based banking products and services which cater to Muslims and non-Muslims. For more information on Bank Islam products and services, visit www.bankislam.com.my or call Bank Islam Call Centre at 03-26 900 900.

Source : Bank Islam Malaysia Berhad 

FOR MORE INFORMATION, PLEASE CONTACT :
Name : Wan Norkhairi Wan Samad
Head, Group Corporate Communications
Bank Islam Malaysia Berhad
Tel : 03-2782 1232 / 019-339 4491
Fax : 03-2781 2998
Email : wnorkhairi@bankislam.com.my
Web : www.bankislam.com.my

Name : Omar Atin
Media Relations & Editorial, 
Group Corporate Communications
BIMB Holdings Berhad
Tel : 03-2781 2943 / 019-391 9144
Fax : 03-2781 2998
Email : omar@bimbholdings.com
Web : www.bimbholdings.com

--BERNAMA