KUALA LUMPUR: Bank Muamalat Malaysia Bhd (BMMB) has revised its base rate (BR) and base financing rate (BFR) by 25 basis points (bps) to 3.31 per cent from 3.56 per annum and 6.31 per cent from 6.56 per cent per annum, respectively.
The changes will be effective immediately.
Bank Muamalat said this would affect all floating rate financing packages pegged to the BR and BFR.
In line with the reduction in BR and BFR, the bank’s FTA-i deposit rates will also be revised downward by 25bps.
Bank Muamalat chief executive officer Khairul Kamarudin said the rate revision was in line with the reduction in Overnight Policy Rate to 2.50 per cent by Bank Negara Malaysia recently.
“Bank Muamalat will continue to manage its assets and liabilities responsibly while supporting the current economic growth initiatives,” Khairul said in a statement.