In response to Bank Negara Malaysia’s (BNM) decision on 06 July 2022 to increase the overnight policy rate (OPR) to 2.25%, Bank Muamalat Malaysia Berhad’s (Bank Muamalat) BR and BFR will be revised by 25 basis points from 2.81% p.a. to 3.06% p.a. and 5.81% p.a. to 6.06% p.a. respectively, with effect from 08 July 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 accordingly.
Bank Muamalat President and Chief Executive Officer, Khairul Kamarudin said the rate revision corresponds with the increase in OPR to 2.25% 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.
He added that in support of customers that may be adversely impacted by the rising rates, Bank Muamalat encourages such customers to contact the Bank for assistance.
