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  1. Home
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  4. Information Guide for Deposit-Taking Members

Information Guide for Deposit-Taking Members

PIDM and Deposit Insurance System

Establishment of PIDM

 

Perbadanan Insurans Deposit Malaysia (“PIDM”) is a Government agency established in 2005 under Akta Perbadanan Insurans Deposit Malaysia (“PIDM Act”). PIDM is an integrated financial consumer protection authority for depositors and takaful or policy owners, and resolution authority for member institutions.

  • About PIDM
    https://www.pidm.gov.my/en/for-public/soalan-soalan-lazim/about-pidm-faqs/
  • Mandate
    https://www.pidm.gov.my/en/pidm/mandate/
  • PIDM ACT 2011
  • PIDM (Amendment) Act 2022

Deposit Insurance System

 

The deposit insurance system (“DIS”) is administered by PIDM to protect depositors against the loss of their insured deposits placed with member institutions in the event of a member institution failure.

Commercial and Islamic banks that are member institutions of PIDM are also referred to as “deposit-taking members” or “DTMs“.

  • Deposit Insurance System
    https://www.pidm.gov.my/en/for-public/deposit-insurance-system-dis/what-is-the-deposit-insurance-system-dis/
  • Brochures on DIS
    https://www.pidm.gov.my/PIDM/media/downloads/2018/
    Brochures/ENG/DIS-ENG.pdf
  • Deposit Insurance Handbook
    https://www.pidm.gov.my/getattachment/For-Member-Institutions/Deposit-Insurance-Information-Materials/DIS-Handbook-EN.pdf?lang=en-US

Membership Requirements

Terms and Conditions of Membership

 

The Terms and Conditions of Membership Regulations set membership rules that will promote safety and soundness and facilitate a prompt intervention and failure resolution of any DTM by PIDM.

A DTM is to comply with the obligations and responsibilities as set out in these Regulations.

  • Malaysia Deposit Insurance Corporation (Terms and Conditions of Membership) (Amendment) Regulations 2017
  • Malaysia Deposit Insurance Corporation (Terms And Conditions Of Membership) Regulations 2008

Provision of Information on Deposit Insurance

 

The Regulations and Guidelines on Provision of Information on Deposit Insurance govern disclosures by the DTMs about membership status and deposit insurance provided by PIDM.

These Regulations and Guidelines aim to ensure that customers receive accurate, relevant, consistent and timely information regarding deposit insurance protection. This is to facilitate informed decision-making by the customers on the placement of their monies in deposits offered by the DTMs.

  • Deposit Insurance Information Materials
  • Guidelines on Provision of Information on Deposit Insurance.pdf
  • Malaysia Deposit Insurance Corporation (Provision of Information on Deposit Insurance) Regulations (Amendment) 2019.pdf
  • Malaysia Deposit Insurance Corporation (Provision of Information on Deposit Insurance) Regulations 2011

Insured Deposits Related Requirements

Deposit Insurance Coverage

 

The Guidelines on Deposit Insurance Coverage for Deposits set out the insurability criteria applied by PIDM in determining whether a product offered by a DTM is a deposit insured under the DIS or not.

  • Coverage for Deposits
    https://www.pidm.gov.my/en/for-public/deposit-insurance-system-dis/coverage-for-dis/
  • Guidelines on Deposit Insurance Coverage for Deposits

Submission of Deposit Product Information

 

The Guidelines on Submission of Deposit Product Information provide guidance and requirement to DTMs in submitting information on certain products offered to customers in order that PIDM can certify the insurability status of the products.

  • Guidelines on Submission of Deposit Product Information.pdf

Deposit Information Systems and Submission

 

The Guidelines on Deposit Information Systems and Submission set out requirements on DTMs to have the necessary systems and capabilities to submit prompt and accurate deposits information to PIDM as well as the requirement to provide deposits information in a standard file format, as and when required.

 
  • PIDM can provide a tool to DTMs to facilitate the validation of deposits information prior to submission to PIDM, as well as to perform computation of insured deposits.
  • PIDM may require an independent validation to be performed to assess DTM’s compliance with the Guidelines.
  • Guidelines on Deposit Information Systems and Submission.pdf

Premium Related Requirements

First Premium and Annual Premium

 

A DTM is required to pay the First Premium upon becoming a member (i.e. upon being licensed under the FSA or IFSA) and the annual premium payment thereafter based on prescribed premium rates.

Premium payable = Total Insured Deposits x Prescribed premium rate for each premium category

* Financial Services Act 2013

** Islamic Financial Services Act 2013

  • Part IV, Chapter 2, Section 47, 48 and 49 of PIDM Act 2011
    PIDM Act 2011
  • Annual Premium and First Premium Order 2011 (Amended in 2012)
    Malaysia Deposit Insurance Corporation (Annual Premium and First Premium in Respect of Deposit-Taking Members) (Amendment) Order 2012
    Malaysia Deposit Insurance Corporation (Annual Premium and First Premium in Respect of Deposit-Taking Members) Order 2011

Differential Premium Systems (“DPS”)

 

The Guidelines and Regulations on DPS set out the assessment approach under the DPS framework, including the formula, threshold and score range of each of the indicators under the quantitative and qualitative criteria.

It also details requirements for reporting and submission of quantitative information to PIDM for the purpose of determining the overall DPS score and premium category.

  • Guidelines on The Differential Premium Systems for Deposit Insurance System.pdf
  • DPS Regulations 2011 (Amended in 2014, 2015, 2017, 2020 & 2022)
    Malaysia Deposit Insurance Corporation (Differential Premium Systems in respect of Deposit-Taking Members) (Amendment) Regulations 2022
    Malaysia Deposit Insurance Corporation (Differential Premium Systems In Respect of Deposit-Taking Members) (Amendment) Regulations 2020
    Malaysia Deposit Insurance Corporation (Differential Premium Systems In Respect of Deposit-Taking Members) (Amendment) Regulations 2017
    Malaysia Deposit Insurance Corporation (Differential Premium Systems In Respect of Deposit-Taking Members) (Amendment) Regulations 2015
    Malaysia Deposit Insurance Corporation (Differential Premium Systems In Respect of Deposit-Taking Members) (Amendment) Regulations 2014
    Malaysia Deposit Insurance Corporation (Differential Premium Systems In Respect of Deposit-Taking Members) Regulations 2011

Total Insured Deposits (“TID”)

 

The Guidelines on Total Insured Deposits set out the requirements for DTMs in determining the TID for premium assessment purpose, the submission of the Return on Total Insured Deposits (“RTID”), as well as the calculation and payment of premium to PIDM.

  • Guidelines-on-Total-Insured-Deposits-and-Premiums.pdf

Validation Programme

 

The Guidelines on Validation Programme set out the detailed scope, procedures and PIDM’s requirements in respect of the independent validation to be performed by external auditor on premium information submitted to PIDM.

  • Guidelines on Validation Programme : Differential Premium Systems and Total Insured Deposits.pdf

New Deposit-Taking Members

New Deposit-Taking Members Requirements

This Handbook aims to familiarise and facilitate the understanding of new deposit-taking members of PIDM and promote compliance of regulatory requirements.

  • PIDM Regulatory Handbook for New Deposit-Taking Members
  • Checklist of Compliance to PIDM Key Requirements
  • Checklist of Compliance to PIDM Key Requirements for Annual Recurring Submission

Contact Information

General Lines

Tel: +603 2173 7436 / 2265 6565
Fax: +603- 2173 7527 / 2260 7432
Toll Free: 1-800-88-1266
Email: info@pidm.gov.my

Corporate Address

Level 12, Axiata Tower,
No. 9, Jalan Stesen Sentral 5,
Kuala Lumpur Sentral
50470 Kuala Lumpur

Personnel In-charge of this document
  • Puan Fariza Ahmad
    fariza@pidm.gov.my
  • Ms Hoh Li Yun
    liyun@pidm.gov.my
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CONTACT DETAILS

Level 12, Axiata Tower,
No. 9, Jalan Stesen Sentral 5,
Kuala Lumpur Sentral
50470 Kuala Lumpur

For mailing purposes:
P.O.Box. 13071
50798 Kuala Lumpur

Tel: +603-2173 7436 / 2265 6565
Fax: +603-2173 7527 / 2260 7432
Toll Free: 1-800-88-1266
Email: info@pidm.gov.my

 

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