KUALA LUMPUR, July 8 (Bernama) — Bank Islam Malaysia Berhad (“Bank Islam”) is revising its Base Rate (“BR”) by 25 basis points from 2.77% to 2.52% per annum, while Base Financing Rate (“BFR”) is revised from 5.72% to 5.47% per annum.
Similarly, deposit rates will also be adjusted downwards by 25 basis points. All rate changes will be effective from 10 July 2020. The decision is in response to Bank Negara Malaysia’s (“BNM”) announcement to reduce the Overnight Policy Rate (“OPR”) by 25 basis points from 2.00% to 1.75%.