20th May 2026 - 2 min read
Customers holding London Bullion Market Association (LBMA) physical gold through Bank Muamalat Malaysia Berhad (BMMB) will see a change in gold pricing [PDF] from 8 June 2026. The bank issued a notice on 18 May 2026 informing customers that a new 10% customs tax imposed by Royal Malaysian Customs will apply to LBMA physical gold bars.
LBMA gold bars meet the standards set by the London Bullion Market Association, the global benchmark for wholesale gold trading, and are widely used as investment-grade gold by banks and institutions.
The 10% customs tax will be reflected in the physical gold price quoted by the bank. At current gold prices, a one-kilogram LBMA bar trading at around RM450,000 would see the tax add approximately RM45,000 to its cost, though the exact impact will depend on how the tax is applied and whether it is passed through fully to customers.
If you’re holding gold through gold savings accounts or other non-LBMA gold products you may not be directly affected, though it is worth checking with your bank or provider to confirm.
For further details, contact Bank Muamalat’s 24-hour Customer Careline at 03-26005500 or visit the official website.
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Iman writes about personal finance with curiosity. She is interested in the stories behind money, the hesitation around big decisions, and the small habits that shape financial futures. Off the clock, she is either dissecting a film or climbing her way up the leaderboard in her favourite games.
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