Islamic Base Rate is made up of 2 parts, our benchmark Islamic cost of funds (ICOF) and the Statutory Reserve Requirement (SRR) cost imposed by Bank Negara Malaysia. Our benchmark COF now reflects the cost of raising new funds in prevailing market funding conditions based on the 3-month KLIBOR as well as customer deposit rates.
Standardised Base Rate is a reference rate that is linked solely to the Overnight Policy Rate (OPR), as determined by the Monetary Policy Committee (MPC) of Bank Negara Malaysia
Islamic Fiancing Rate
Islamic Base Rate
Standardised Base Rate
Financings prior to 2 January 2015 continue to be referenced against the Islamic Financing Rate (IFR) until their maturities.
Currently, IFR will be used for financing for non-individuals.
Effective 2 January 2015, the Islamic Base Rate (IBR) were used for new floating rate financing facilities for individual customers.
Financings up till 31 July 2022 will be continued to be referenced against the Islamic Base Rate (IBR) until their maturities.
With effect from 1 August 2022, the Standardised Base Rate (SBR) will be used for new floating rate financing facilities for individual customers as well as to Sole Prop. under individual name for business use.