Azman: New rate framework will spur competition

PETALING JAYA: The new reference rate framework proposed by Bank Negara to replace the base lending rate (BLR) will spur stiff competition in the banking industry, AmBank Group chairman Tan Sri Azman Hashim said.

“Competition will get stiffer, as customers will be exposed to more transparent pricing,” he told a media briefing after handing over a multi-purpose vehicle to the Malaysian Islamic Women’s Welfare Council as the diversified banking group’s contribution.