MALAYSIA: Bank Negara Malaysia has announced that the Malaysian Islamic Overnight Rate (MYOR-i) will become the mandatory reference rate for all Islamic financial products effective the 1st July 2027. The announcement was made by Governor Abdul Rasheed Ghaffour at the Global Islamic Finance Forum 2025 in Kuala Lumpur. The governor also outlined future priorities including expanding risk-sharing contracts such as Mudarabah and Musharakah, advancing Halal economy and sustainable finance as well as strengthening governance for Waqf and Zakat instruments.
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