Bank Negara to adopt MYOR-i as mandatory Islamic benchmark rate from July 2027

Governor Datuk Seri Abdul Rasheed Ghaffour —LOW LAY PHON/The Star

KUALA LUMPUR: 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, marking a major structural reform in the country’s Islamic finance landscape.

Governor Datuk Seri Abdul Rasheed Ghaffour said MYOR-i, the world’s first transaction-based Islamic benchmark rate, would bring transparency, consistency and shariah alignment to the heart of Islamic finance.