Press Release – Bank Muamalat Revision on Base Rate (BR) and Base Financing Rate (BFR)

Kuala Lumpur, July 08, 2020 – In response to Bank Negara Malaysia’s (“BNM”) decision on 7 July 2020 to reduce the Overnight Policy Rate (“OPR”) to 1.75%, Bank Muamalat Malaysia Berhad’s BR and BFR will be accordingly revised by 25 basis points from 2.81% p.a. to 2.56% p.a. and 5.81% p.a. to 5.56% p.a. respectively, with effect from 13 July 2020. This will affect all floating rate financing packages pegged to the BR and BFR.

In line with the reduction in BR and BFR, Bank Muamalat’s FTA-i deposit rates will also be revised downward by 25 basis points.

According to its Chief Executive Officer, Khairul Kamarudin, the rate revision is in line with the reduction in OPR to 1.75% as announced by BNM recently.