Features
- BNMN-i are Islamic securities issued by Bank Negara Malaysia replacing the existing Bank Negara Negotiable Notes (BNNN) for purposes of managing liquidity in the Islamic financial market;
- The instruments are issued using Islamic principles which are deemed acceptable to Shariah requirement;
- BNMN-i are issued based on a discounted or a coupon-bearing basis depending on investors’ demand;
- Discount-based BNMN-i can be traded using the same market convention as the existing BNNN and Malaysian Islamic Treasury Bills (MITB) while the profit-based BNMN-i adopt the market convention of Government Investment Issues (GII);
- Debt arising out of the buying back of the asset is securitized through the issuance of BNNN;
- SBNMI can be traded in the secondary market;
- The tenors issued are between 21 days to 1 year;
- Zero credit risk is assigned as it is issued by Bank Negara Malaysia.
