KUALA LUMPUR, May 13 (Bernama) --
In response to Bank Negara Malaysia’s (BNM) decision on 11 May 2022 to increase the overnight policy rate (OPR) to 2.00%, Bank Muamalat Malaysia Berhad’s Base Rate (BR) and Base Financing Rate (BFR) will be revised upward by 25 basis points from 2.56% p.a. to 2.81% p.a. and 5.56% p.a. to 5.81% p.a. respectively, with effect from 13 May 2022. This will affect all floating rate financing packages pegged to the BR and BFR.
In line with the increase in BR and BFR, Bank Muamalat’s FTA-i deposit rates will also be revised upward by 25 basis points.
Bank Muamalat President and Chief Executive Officer, Khairul Kamarudin said the rate revision is in line with the increase in OPR to 2.00% as announced by BNM recently.
“Bank Muamalat will continue to manage its assets and liabilities responsibly while supporting the current economic growth initiatives and meeting stakeholders’ expectations,” said Khairul.Source: Bank Muamalat
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