Bank Negara to phase out KLIBOR by 2029, transition to MYOR and MYOR-i

KUALA LUMPUR: Bank Negara will transition from the Kuala Lumpur Interbank Offered Rate (KLIBOR) to the Malaysia Overnight Rate (MYOR) and Malaysia Islamic Overnight Rate (MYOR-i).

“By the end of the transition, KLIBOR will cease to exist effective Jan 1, 2029,” the central bank said in a statement.