In line with Bank Negara Malaysia (BNM) Reference Rate Framework (RRF) Policy Document, a new reference rate known as the Standardised Base Rate (SBR) will be used for new financing facilities effective 1st August 2022. Our SBR will be 2.25% per annum and replaces the Islamic Base Rate (IBR) for new financing applications from 1st August 2022 onwards.
The IBR will continue to be applied to the existing financing facilities which were priced against the IBR.
What is Standardised Base Rate (SBR)?
SBR is a common base introduced by BNM for all banks with effect from 1st August 2022 in the pricing of new financings pegged to base rates, refinancing of existing retail financings and the renewal of revolving financings from 1st August 2022.
Pursuant to this revision, the SBR will be referenced to the Overnight Policy Rate (OPR), which is determined by BNM’s Monetary Policy Committee. Please refer to the BNM website for the latest historical data on OPR trends.
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