Recently BNL have measured the muon magnetic moment anomaly with increased precision. The world average experimental value at present shows a discrepancy of $43(16)\times 10^{-10}$ from the standard model (SM) value. In this paper we investigate the implications of this difference on a class of scalar leptoquark interactions to SM quark–lepton pair. We find that for a leptoquark mass of a few hundred GeV the BNL muon anomaly can arise from couplings much smaller than even the electromagnetic coupling. We also find that the BNL value for the muon anomaly leads to an unambiguous prediction for the electric dipole moment of the muon and a bound on the flavor changing leptoquark coupling relevant for the rare decay $\mu\rightarrow e\gamma $ .
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