Bank Negara Malaysia (BNM)

Special Commemorative Coins for Sale

commemorative coins

Bank Negara Malaysia (BNM) is issuing special Commemorative Coins which is available for sale starting 16th June 2010.

If you are coins collector, this is a good news for you. You need to react fast as the coins are only available in limited quantity and sold on first come first serve basis.

A commemorative coin is a legal tender coin issued by the Bank to commemorate a specific and significant occasion, outstanding person or place or to mark the anniversary of an historic event.

The following coins are available for sales.

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Sukuk 1Malaysia 2010 Open for Subscription

kementerian kewangan

As posted before on Sukuk 1Malaysia 2010 (S1M 2010) , starting today 20th May 2010, fund subscription is opened to public. The subscription period is between 20th May to 9th June 2010.

If you are interested, make sure you subscribe quickly because the similar Sukuk Simpanan Rakyat (SSR) with bigger fund size launched last year was fully subscribed within 9 days. Assuming similar subscription rate, Sukuk 1Malaysia 2010 may be fully subscribed in 4 to 5 days.

The main different between S1M 2010 and SSR is you may sell or purchase after the subscription period subjected to fund availability. However, please bear in mind that any purchase made after the subscription period you will be charged 0.1% from purchase value.

If you want to know how to calculate profit made from S1M 2010, you may refer to the formula below.

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Sukuk 1Malaysia 2010 with 5% Return per Year

kementerian kewangan

After receiving a good response from general public on Sukuk Simpanan Rakyat (SSR) launched last year, Government will be issuing a new RM3bil worth of Sukuk 1Malaysia 2010.

Bank negara was appointed on behalf of The Ministry of Finance to issue the Sukuk. The sukuk, which will be scripless and based on Shariah principles.

It has a 3-year tenure and offers a return of 5% per annum. Profit payments will be made on a quarterly basis through the sukukholders’ accounts with their agent banks.

If you are interested to subsrcribe, you may apply during the subscription period starting from 20th May to 9th June 2010. You better make a quick decision as the previous Sukuk Simpanan Rakyat (SSR) were fully subscribed within nine days.

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Higher OPR & BLR for Malaysian

interest rate

Following Bank Negara decision to increase the overnight policy rate (OPR) by 25 basis points last week, banks have begun to raise their base lending rates (BLRs). Bank Negara last week increase the OPR from 2% to 2.25%. Bank Negara raised the OPR as the economy has improved significantly and returned to its path to recovery.

So far BSN, Maybank, CIMB Bank, Public Bank, Hong Leong Bank, RHB Bank, Standard Chartered & HSBC announced their interest rate hike by 25 basis points from 5.55% to 5.8%. Other banks are expected to announce their decision soon. On the bright side, the increase in OPR & BLR also will result in increase in the interest gain from saving account, current account and fixed deposit.

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