  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 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 leptoquarks in the few hundred Gev range the BNL muon
anomaly could arise from leptoquark couplings that are much smaller than 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\to e\gamma.
