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.
Before 2 Jan 2015
From 2 Jan 2015
Islamic Financing Rate
Loans extended prior to 2 January 2015 continue to be referenced against the Islamic Financing Rate (IFR) until their maturities.
Islamic Base Rate
Effective 2 January 2015, a new reference rate known as the Islamic Base Rate (IBR) will be used for new floating rate financing facilities for individual applicant.
Effective on 2 January 2015
The move to IBR does not affect Effective Profit Rates
Standard Property Financing’s Effective Profit Rate: