Kuala Lumpur, 10 December 2013: Perbadanan Insurans Deposit Malaysia (PIDM) and the Korea Deposit Insurance Corporation (KDIC) recently signed a Memorandum of Understanding (MoU), on bilateral collaboration to mutually enhance the effectiveness of their respective integrated financial consumer protection systems.
Both PIDM and KDIC administer integrated protection schemes which include a deposit insurance scheme and insurance policy holder protection scheme in their respective jurisdictions. PIDM administers the national Deposit Insurance System (DIS) and the Takaful and Insurance Benefits Protection System (TIPS) in Malaysia.
The MoU was signed by PIDM Chairman, Tan Sri Datuk Dr. Abdul Samad bin Haji Alias and KDIC Chairman and President, Mr. Joo Hyun Kim on 6 December 2013 in Kuala Lumpur. The ceremony was witnessed by PIDM’s Board of Directors, its Chief Executive Officer, Mr. JP Sabourin and senior officials of both organisations.
“This partnership aims to promote cooperation and collaboration between the two corporations by providing opportunities for the sharing of knowledge, expertise and experiences through study visits, personnel secondments and bilateral meetings,” said Tan Sri Datuk Dr. Abdul Samad.
For more information about this press release, kindly contact:
Rozita Ahmad, General Manager, Communications and Public Affairs Division
(Tel: 03-2173 7455; Email: firstname.lastname@example.org)
Juli Murshidah, Manager, Communications and Public Affairs Division
(Tel: 03-2173 7465; Email: email@example.com)
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.