Preheat oven to 180 C. Line a baking tray with baking paper.
Beat peanut butter and margarine until well blended. Add sugar and mix well. Beat in eggs one at a time. Stir in milk.
Mix oats, flour, bicarb, raisins and cinnamon. Stir into sugar mixture until well blended.
Allow the mixture to stand for a few minutes. Roll into small balls and place on baking tray. Press down with a fork or spoon.
Bake for 10-15 minutes or until light golden brown. Allow to cool. Store in an airtight container and serve as a tea-time treat.
Substitute 3 tbsp of the flour with cocoa for a chocolate flavour.