The Shariah Advisory Council (SAC) of Bank Negara Malaysia at its 218^th meeting on 28 October 2021 made a ruling in respect of the New Islamic Reference Rate i.e Malaysia Islamic Overnight Rate (MYOR-i).

The SAC ruling aims to clarify the Shariah status of the calculation methodology for MYOR-i in normal and contingency situations.

This ruling is effective in accordance with the MYOR-i guidelines to be issued by the Bank.

Please refer to the attachment for more information