This Discussion Paper sets out the proposed design and features pertaining to the development of an Alternative Reference Rate (ARR), potential enhancements to the Kuala Lumpur Interbank Offered Rate (KLIBOR) as well as a review of the Kuala Lumpur Islamic Reference Rate (KLIRR).

The Bank, in consultation with the Financial Markets Committee (FMC), invites written feedback on this Discussion Paper, including suggestions to improve clarity on the proposals or alternatives for consideration. To facilitate a constructive consultation process, please support your feedback and views with justifications, evidence or illustrations, where appropriate.

All queries and responses must be submitted via the attached feedback form electronically by 18 June 2021.

• Discussion paper: Alternative Reference Rate and Strategic Direction on KLIBOR and KLIRR for the Malaysian Financial Market

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