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.<br /><br />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.<br /><br />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.<br /><br />Read more at https://tinyurl.com/58dvvbza<br /><br />WATCH MORE: https://thestartv.com/c/news<br />SUBSCRIBE: https://cutt.ly/TheStar<br />LIKE: https://fb.com/TheStarOnline<br />
