A logo of Bank Islam Malaysia is seen at the bank's headquarters in Kuala Lumpur on November 12, 2008. Malaysian Prime Minister Abdullah Ahmad Badawi said that the global economic crisis presents an opportunity for Islamic banking to show it is a viable alternative to conventional finance. Badawi said the meltdown showed the need for laws enshrined in Islamic banking, which prohibits speculation and high levels of debt, and which has so far been relatively unscathed by the credit crunch. AFP PHOTO / Saeed KHAN (Photo credit should read SAEED KHAN/AFP/Getty Images)

Malaysia: Bank Islam raises BR to 3.90 pct

  • Jan 30, 2018

KUALA LUMPUR, Jan 30: Bank Islam Malaysia Bhd (BIMB) is revising its Base Rate (BR) from 3.65 per cent to 3.90 per cent and Base Financing Rate from 6.60 per cent to 6.85 per cent, effective today.

Chief Executive Officer, Khairul Kamarudin said the rate revision was due to the rise in Bank Negara Malaysia’s Overnight Policy Rate by 25 basis points to 3.25 per cent.

“The last revision in BIMB’s BR was on July 27, 2016, when it was revised from 3.90 per cent to 3.65 per cent,” he said in a statement today.

BIMB was established in 1983 as the nation’s first Islamic bank and has to date, a network of 147 branches and more than 1200 self-service terminals nationwide.–Bernama

Source: http://www.themalaysiantimes.com.my/bank-islam-raises-br-3-90-pct/