Malaysian central bank to impose uniform base rate for retail loans

bank-negara-malaysia
Bank Negara Malaysia

Malaysia’s lenders must use a single base rate for retail loans from next year, ending the current practice, the country’s central bank announced on August 11.

Bank Negara Malaysia (BNM) will mandate a standardised base rate (SBR) as the benchmark for all domestic retail floating-rate loans. The move will be effective from August 1 next year, the central bank said.

Before the change, banks in Malaysia were permitted to set their own base rates, using various approaches, under a framework

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