The Deposit Insurance System (DIS) is a system established by the Government 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 ‘member banks’. As an integral component of an effective financial safety net, a deposit insurance system enhances consumer protection by providing explicit protection to depositors. Depositors will know when, how much and how their deposits are insured in the event that a member bank is bankrupt or is unable to make payment to depositors. In Malaysia, the Deposit Insurance System was brought into effect in September 2005 and is administered by PIDM.
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