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OCBC Women Unlimited is here to equip you with the resources, guidance and support you need to grow with confidence.
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OCBC Velocity now integrates with LHDN's MyInvois Portal for secure, compliant e-invoicing. Enjoy faster payments, fewer errors, and full control - all in one connected platform.
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Drive your regional growth with a banking partner that understands both Malaysia and China. Backed by strong local expertise and cross-border connectivity, we help Chinese enterprises unlock opportunities and navigate the Malaysian market effectively.
LIBOR Contracts Cessation
by 31 December 2021
- Global issuance of new LIBOR contracts will cease by 31 December 2021.
- Similarly, Bank Negara Malaysia requires banks to cease issuance of LIBOR contracts by 31 December 2021 and to reference new products against alternative rates.
- As a bank customer, you are advised to:
- Ensure capacity and system readiness to transact new products in the alternative rates before 31 December 2021
- Incorporate fallback provisions for affected LIBOR contracts to avoid any potential legal implications; and
- Contract your banks as soon as possible to avoid delay in transitioning to alternative rates.
More information about LIBOR transition in Malaysia is available in Box Article - Developments of the Benchmark Rate Reform in Malaysia.