KUALA LUMPUR, May 8 (Bernama) -- In response to Bank Negara Malaysia’s (BNM) decision to increase the overnight policy rate (OPR) to 3.00% effective 3 May 2023, Bank Muamalat Malaysia Berhad’s (Bank Muamalat) SBR, BR and BFR will be revised by 25 basis points from 2.75% p.a to 3.00% p.a,  3.56% p.a. to 3.81% p.a. and 6.56% p.a. to 6.81% p.a. respectively, with effect from 9 May 2023. This will affect all floating rate financing packages pegged to the SBR, BR and BFR.
 
In line with the increase in SBR, BR and BFR, Bank Muamalat’s FTA-i deposit rates will also be revised accordingly.
 
Bank Muamalat President and Chief Executive Officer, Khairul Kamarudin said the rate revision corresponds with the increase in OPR to 3.00% as announced by BNM.
 
“Bank Muamalat will continue to manage its assets and liabilities responsibly while supporting the current economic growth initiatives and meeting stakeholders’ expectations,” said Khairul.
 

Bank Muamalat encourages its customers who are facing difficulties in paying higher instalments due to the rising rates to contact  its Customer Service Centre at  03-2600 5500 or log in to its Muamalat Application Platform (MAP) at https://map.muamalat.com.my.