Dear Valued Customers,
We wish to inform that Malaysia’s Kuala Lumpur Interbank Offered Rate (KLIBOR) will be gradually phased out and transitioned to two new reference rates, the Malaysia Overnight Rate (MYOR) and the Malaysia Islamic Overnight Rate (MYOR-i). By the end of the transition, KLIBOR will be permanently cease from 1 January 2029.
The key dates of KLIBOR cessation:
| Key Dates | Description |
|---|---|
| By 1 July 2027 | Cease the usage of KLIBOR in new trades across all banking products. |
| Before 1 July 2028 | Existing KLIBOR-linked contracts maturing after 31 December 2028 will be updated to reflect the new benchmark rate(s) in line with the applicable terms. |
| From 1 January 2029 | Permanent cessation of KLIBOR. |
Public Bank is committed to supporting customers to ensure smooth and orderly transition.
Thank you for your continued support.
For further information, please refer FAQ.
