Bank Negara refutes media postings on electronic pick-pocketing

Close collaboration: Klibor was introduced in June 1987 as an official indicator of the conditions in the interbank money market. The rates that the Klibor contributors submit for Klibor setting indicate the rates that they are willing to lend ringgit funds for the relevant tenors to interbank players, and are mainly used as reference for other products such as the floating leg of interest rate swaps, options, futures and structured products.

KUALA LUMPUR: Bank Negara said recent media postings on electronic pick-pocketing on individuals with contactless cards were not true.

In a statement, Bank Negara said contactless cards were equipped with safety features that made them a secure mode of payment.