Kuala Lumpur, 18 October 2007: Financial awareness and consumer protection takes centre stage at a double event organized by Perbadanan Insurans Deposit Malaysia (PIDM), the national deposit insurer, as part of its efforts to promote financial literacy and contribute to public confidence in Malaysia’s financial system.
PIDM is organizing the inaugural Malaysia Financial Exhibition 2007 (MYFex2007), in conjunction with the 6th International Association of Deposit Insurers’ (IADI) Annual Conference in Kuala Lumpur. MYFex2007 is one of the year’s largest gathering of consumer protection agencies and market players while the Annual Conference is the yearly highlight for IADI members to share experience and expertise in strengthening deposit insurance practices around the world.
“Promoting awareness about deposit insurance is more meaningful within the context of overall financial knowledge. While PIDM’s main aim is about deposit insurance awareness, MYFex2007 is about providing a comprehensive one-stop opportunity for the public to get answers about financial queries that they may have. With the participation of both consumer protection agencies and financial service providers, the public can have better access to readily available information about money matters that affect them,” according to Jean Pierre Sabourin, Chief Executive Officer of PIDM and Chair of the Executive Council and President of IADI.
Besides PIDM, exhibitors include Bank Negara Malaysia, Inland Revenue Board, Financial Mediation Bureau, Agensi Kaunseling dan Pengurusan Kredit, Financial Planning Association of Malaysia, selected agencies under the Ministry of Finance, commercial and Islamic banks as well as financial education providers such as the International Centre For Leadership In Finance and Institut Bank-Bank Malaysia. A series of public talks and a daily info hunt with prizes are also on offer.
MYFex2007 will be held from 30 October to 4 November at Mid Valley Exhibition Centre, Mid Valley Megamall. Opening hours are between 11 a.m. and 8 p.m. daily, except 4 November (until 6 p.m.). Admission is free.
PIDM is also host of the 6th IADI Annual Conference from 31 October to 1 November 2007 in Kuala Lumpur. The Conference, themed “Deposit Insurance and Consumer Protection”, will bring together some 200 deposit insurance and financial industry practitioners from across the globe as well as delegates from banks and Government agencies in Malaysia, to share and discuss issues and policies affecting consumer protection initiatives, financial stability, corporate governance and public awareness. There will also be a session on Shariah-compliant deposit insurance, which Malaysia is championing in the international arena.
Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz, Governor of Bank Negara Malaysia will present the keynote speech at this Conference as well as officiate MYFex2007. Distinguished speakers at this Conference include Martin Gruenberg, Vice Chairman of the Federal Deposit Insurance Corporation; Usha Thorat, Deputy Governor, Reserve Bank of India; Alexander Berg, Head of Corporate Governance at the World Bank; Su Ning, Deputy Governor of The People’s Bank of China; Datuk Seri Panglima Andrew Sheng, Chief Advisor to the China Banking and Regulatory Commission; and Dato’ Mohd. Razif Abdul Kadir, Deputy Governor of Bank Negara Malaysia.
“The Conference aims to bring together the experiences of international practitioners in the field of deposit insurance, central banking and banking supervision as well as market players in order to further enhance the effectiveness of deposit insurance systems around the world, thereby strengthening financial stability. For regulators, it’s a reality check on consumer protection policies and where they stand. For market players, this is a forum to keep them abreast of regulatory issues concerning consumer protection that involves them. It offers a holistic perspective and we have encouraged financial market participants to take part in this important Conference,” Sabourin elaborated.
Business and networking opportunities are also made available at the Annual Conference, especially during the Asian Country Showcase, which is a forum to promote investment potential in the financial services sector of selected Asian countries held on 30 October 2007 as a run-up to the main Conference. Countries such as Indonesia, Malaysia, the Philippines and Vietnam will participate and provide information about their policies, initiatives and incentives.
More information on the IADI Annual Conference, registration details and related events can be downloaded from PIDM’s website at this link.
For more information about this press release, kindly contact:
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 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.