KUALA LUMPUR: Bank Muamalat Malaysia Bhd is revising higher its standardised base rate (SBR), base rate (BR) and base financing rate (BFR) by 25 basis points, with effect from Sept 13, 2022.
"In response to Bank Negara Malaysia’s (BNM) decision to increase the Overnight Policy Rate (OPR) to 2.50% effective Sept 8, 2022, Bank Muamalat's SBR, BR and BFR will be revised by 25 basis points from 2.25% p.a to 2.50% per annum (pa), 3.06% pa to 3.31% pa and 6.06% pa to 6.31% pa respectively, with effect from 13 September 2022.
"This will affect all floating rate financing packages pegged to the SBR, BR and BFR," it said in a statement.,
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In line with the increase in the SBR, BR and BFR, Bank Muamalat’s FTA-i deposit rates will also be revised accordingly.
"Bank Muamalat will continue to manage its assets and liabilities responsibly while supporting the current economic growth initiatives and meeting stakeholders’ expectations,” said president and CEO Khairul Kamarudin.
The bank urged 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/ under Services, effective 13 September 2022. - Bernama