Bank Negara Malaysia (BNM) will adopt the Malaysian Islamic Overnight Rate (MYOR-i) as the mandatory reference rate for all Islamic financial products beginning July 1, 2027, — a key reform in the nation’s Islamic finance sector.
Speaking at the Global Islamic Finance Forum (GIFF) 2025, Governor Datuk Seri Abdul Rasheed Ghaffour said MYOR-i, the world’s first transaction-based Islamic benchmark rate, will enhance transparency, consistency and shariah compliance.
He said the move is part of Malaysia’s broader plan to strengthen risk-sharing structures, promote inclusive growth, deepen global links and build talent in Islamic finance.
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