Perbadanan Insurans Deposit Malaysia (PIDM) has released its Annual Report 2022, encapsulating PIDM’s progress and accomplishments against its Corporate Plan 2022 – 2024 themed “Present-Focused, Future-Ready”.
In 2022, the Corporation continued to work closely with key stakeholders to develop feasible and credible resolution plans for its member institutions. This commitment ensures that these institutions are prepared for resolution in an orderly manner, minimising costs to the financial system. PIDM remains firmly dedicated to its mandate of reinforcing financial consumer confidence and promoting financial stability.
Highlights from the Annual Report 2022 include:
- Resolution readiness: PIDM released the Resolution Planning Exposure Draft and launched the first set of resolution case studies titled ‘Enhancing Resolution Readiness’ at the PIDM Industry Forum for member banks in August. PIDM also conducted simulation exercises with relevant parties.
- Advocacy and awareness: PIDM increased its public advocacy level to 59% and maintained its public awareness level of 80%. Financial literacy was the main anchor for PIDM’s communication initiatives, including the flagship #SediaPayungKewangan campaign, garnering 15.2 million in overall reach in its second-year roll-out.
- Financial literacy: PIDM, as a member of the Financial Education Network (FEN), co-hosted the inaugural National Financial Literacy Symposium (NFLS) 2022 with Bank Negara Malaysia in October and discussed the challenges, research findings, and strategic solutions to improve financial literacy in Malaysia.
- International initiatives: PIDM showcased its global leadership by hosting the 9th International Conference and Annual General Meeting of the International Forum Insurance Guarantee Schemes (IFIGS) in December. The events were attended by 250 participants from 34 countries, including officials from the Ministry of Finance, Bank Negara Malaysia, and insurer members.
- Digital transformation: PIDM continued to embrace digitalisation and technological transformation, whilst prioritising security and resilience. PIDM also focused on future-proofing its people with relevant skills, resources and programmes that support their well-being and provided scholarships to deserving students.
- PIDM also continued its environmental sustainability initiatives by integrating environmental considerations into its operations through employee awareness programmes, ongoing recycling campaigns and other carbon footprint reduction initiatives.
PIDM’s Annual Report 2022 is available at
www.pidm.gov.my/AR2022.