Kuala Lumpur, 30 October 2007: The national deposit insurer, Perbadanan Insurans Deposit Malaysia (PIDM) today launched the Malaysia Financial Exhibition 2007 (MYFex 2007), which will be running until 4 November 2007 at the Mid Valley Exhibition Centre.
In line with one of the main functions of PIDM to promote public awareness on the deposit insurance system it administers, MYFex 2007 is an initiative to enhance financial literacy among Malaysians and contribute to public confidence in Malaysia’s financial system.
"In our quest to raise public awareness on deposit insurance, one thing that we note is that this awareness must be complemented with knowledge of related financial matters. In order to have a meaningful understanding about deposit insurance, depositors must first have a greater awareness of financial matters generally," said Tan Sri Dato’ Abdul Aziz Haji Taha, Chairman of PIDM, at the exhibition’s opening ceremony today.
MYFex2007 was officiated by Governor of Bank Negara Malaysia, Tan Sri Dato’ Sri Dr Zeti Akhtar Aziz in a ceremony in Mid Valley Exhibition Centre today.
Exhibition visitors will benefit greatly from one of the year’s largest gathering of financial consumer agencies and market players. A number of commercial and Islamic banks will be participating in MYFex 2007 together with Bank Negara Malaysia, Inland Revenue Board, Financial Mediation Bureau, Agensi Kaunseling dan Pengurusan Kredit, Financial Planning Association of Malaysia, Companies Commission, selected agencies under the Ministry of Finance, as well as financial education providers such as the International Centre for Leadership in Finance (ICLIF) and Institut Bank-Bank Malaysia (IBBM).
A daily Infohunt contest will be held from 31 October to 4 November 2007. Visitors only need to answer 10 questions correctly to win instant prizes. All answers can be found in the exhibition hall. Public talk sessions will also be held daily and are open to all exhibition visitors.
MYFex 2007 is also an initiative to bolster the existing collective effort between PIDM, member banks and other stakeholders to disseminate relevant information on customer protection to the public.
Tan Sri Aziz added, "PIDM is keen to be part of efforts to enhance financial literacy in Malaysia as we are part of the financial system safety net. It signifies our partnership with other like-minded consumer protection agencies and organisations with the vision of creating an informed consumer and thereby, contributing to financial system stability."
The opening hours of MYFex 2007 are between 11 a.m. and 8 p.m. daily, except 4 November (until 6 p.m.). Admission is free.
More information on MYFex 2007 can be obtained from http://www.pidm.gov.my/myfex2007
For more information about this press release, kindly contact :
S.Loganathan, General Manager, Communications and Public Affairs Division
(Tel : 03-2173 7455)
Zeti Zahariah Zainul, Manager, Communications and Public Affairs Division
(Tel : 03-2173 7457)
PIDM administers the Government-backed deposit insurance in Malaysia. We protect depositors – automatically – up to RM60,000 per depositor per member institution. For further information:
PIDM protects your deposits in the bank as well as your takaful and insurance benefits in the unlikely event of a failure of a member bank or a takaful operator / insurance company.