PIDM appoints Chief Operating Officer

Mar 18, 2010
Kuala Lumpur, 18 March 2010: National deposit insurer, Perbadanan Insurans Deposit Malaysia (PIDM), has appointed Md. Khairuddin Haji Arshad as Chief Operating Officer (COO) with immediate effect.
 
“The appointment of the COO is part of the ongoing human capital development initiative of PIDM to enable us to carry out our statutory mandate more effectively and efficiently. This position was approved by PIDM’s Board of Directors at the end of 2009 in our continuous effort in solidifying the implementation of succession management for key senior management positions in PIDM,” said Jean Pierre Sabourin, the Chief Executive Officer of PIDM.
 
As the COO, Khairuddin will provide oversight support to the CEO of PIDM to ensure the continuing effectiveness of the daily operations of the national deposit insurer. He will be responsible for overseeing the core functions in PIDM, including Insurance, Risk Assessment and Monitoring, Intervention and Failure Resolution, Finance and Administration, Legal, Communications and Public Affairs, and Strategic Planning.
 
“The Board of Directors and I have full confidence in Khairuddin’s ability to lead the relevant core Divisions given the depth of his banking supervisory and regulatory experience. At PIDM, we provide employees with opportunities for continuous talent development to help them acquire the necessary skills, expertise and experience towards fulfilling their potential,” Sabourin said. 
 
Khairuddin was a member of the Deposit Insurance Task Force in Bank Negara Malaysia (BNM), which was responsible for the development and design features of the Malaysian deposit insurance system. When PIDM was established in 2005, Khairuddin was appointed as the General Manager of the Insurance, Risk Assessment and Monitoring Division.
 
“Having been involved with PIDM even prior to its establishment, I have had the opportunity to actively contribute and participate in its development and achievements from year to year. The insights gained through this experience would certainly provide us with a clear vision towards becoming a best practice deposit insurer,” Khairuddin remarked.
 
Having served at BNM for over 15 years, Khairuddin has extensive experience in Islamic banking and finance, and is currently a member of the Malaysian Accounting Standards Board (MASB) working group on Islamic financial transactions as well as the Chairman of the International Association of Deposit Insurers (IADI) Committee on Islamic Deposit Insurance. He has also provided technical assistance to various countries in developing their Islamic banking industry as well as presented papers at domestic and international seminars. He holds an accounting degree from the International Islamic University, Malaysia.
 
 
For more information about this press release, kindly contact:
S.Loganathan, General Manager, Communications and Public Affairs Division                                 
(Tel: 03-2173 7455; Email: loga@pidm.gov.my)
 
Sarina Ariffin, Manager, Communications and Public Affairs Division
(Tel: 03-2173 7457; Email: sarina@pidm.gov.my)
  
 
ABOUT PIDM
 
PIDM administers the statutory deposit insurance system in Malaysia that provides protection – automatically – on all ringgit and foreign currency deposits with commercial banks, Islamic banks, investment banks, international Islamic banks and deposit-taking development financial institutions regulated by Bank Negara Malaysia.
 
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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.

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