| Kuwait Finance Cuts BFR By 25 Basis Points |
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KUALA LUMPUR, Dec 1 (Bernama) -- Kuwait Finance House (Malaysia) Bhd (KFHMB) has reduced its Base Financing Rate (BFR) by 25 basis points to 6.50 percent from 6.75 percent effective Monday.
In a statement here, KFHMB said the decision to cut the BFR follows the easier monetary stance by Bank Negara Malaysia (BNM), which had announced a cutback in the overnight policy rate (OPR), by 25 basis points to 3.25 percent recently.
"Amidst the severe impact of the current economic crisis on global economies and financial markets, we will continue to support our customers, as we are committed to life-long, mutually beneficial partnerships," said KFHMB managing director Datuk K Salman Younis.
He said there were abundant opportunities to further develop the Islamic markets in Malaysia and in this region.
"Malaysia is an attractive destination for investments and funds from the Middle East, particularly Kuwait, to finance viable manufacturing and services sector projects that would ensure continuous returns on a long term basis," he explained.
-- BERNAMA
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