Kuala Lumpur Interbank Offered Rate (KLIBOR) was introduced in June 1987 as an official indicator of the conditions in the interbank money market.
The rates that the KLIBOR submitters quote for KLIBOR setting indicate the rates at which they are willing to lend ringgit funds for the relevant tenors to KLIBOR submitters and are mainly used as reference for other products such as the floating leg of interest rate swaps, options, futures and structured products.
This policy document sets out requirements which must be observed by KLIBOR submitters and the designated KLIBOR distributor in undertaking KLIBOR rate setting process.
This policy document aims to ensure that the KLIBOR rate setting process is reliable, accurate and provide assurance of the integrity and credibility of the benchmark rates being quoted by the KLIBOR submitters.
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
