Malaysia Islamic Overnight Rate (MYOR-i)

In line with the continued development of the Islamic financial market, the Financial Markets Committee (FMC), in consultation with the AIBIM-FMAM1 Islamic Market Technical and Development Committee (IMTDC), recommended for the replacement of the Kuala Lumpur Islamic Reference Rate (KLIRR) with a new Islamic benchmark rate, named the Malaysia Islamic Overnight Rate (MYOR-i). MYOR-i is designed based on the International Organization of Securities Commissions (IOSCO)’s Principles for Financial Benchmarks.

This policy document sets out the benchmark design, methodology and governance framework to ensure the integrity and credibility of MYOR-i.

This document belongs to Bank Negara Malaysia (BNM). Full access to the original source is available here: https://www.bnm.gov.my/banking-islamic-banking