PIDM Kicks Off Stakeholder Engagement Initiative with ‘KL Sentral Community Outreach’

Kuala Lumpur, 25 January 2018: Perbadanan Insurans Deposit Malaysia (PIDM) today commenced its ‘PIDM KL Sentral Community Outreach’ at NU Sentral, Kuala Lumpur Sentral. The three-day event is the kick off for its stakeholder engagement initiatives planned for 2018 and is part of the Corporation’s efforts to ramp up  public awareness and understanding of its role in the financial system and the protection systems it administers.
“As an integral part of the Malaysian financial safety net system, PIDM is mandated to protect the interests of depositors and takaful and insurance policy owners against the failure of any PIDM member institution. Public awareness about PIDM’s role and its protection systems is important in building trust and confidence in PIDM which will in turn promote and contribute to the stability of the financial system in Malaysia”, said Rafiz Azuan Abdullah, Chief Executive Officer of PIDM.

Over the years, PIDM has expended considerable effort and resources towards enhancing public awareness and understanding of its role as a financial consumer protection and resolution authority. The community outreach provides an opportunity for PIDM to directly engage and get closer to its stakeholders.

“Many Malaysians are already familiar with PIDM through our easily recognisable logo which can be seen at the premises of our member institutions and through our advertising campaigns. However, there is a need to enhance and deepen financial consumers’ understanding of PIDM’s role in the financial system as well the features, benefits and limits of the Deposit Insurance System (DIS) and the Takaful and Insurance Benefits Protection System (TIPS),” added Rafiz.

“We want financial consumers to know that their deposits, insurance and takaful benefits are protected and that the protection is automatic, no application and payment is required. With greater awareness, we hope that consumers will be empowered to make well-informed financial choices for themselves,” Rafiz further added.

The ‘PIDM KL Sentral Community Outreach’ is held at the Lower Ground Floor, NU Sentral, Kuala Lumpur Sentral, from 25th to 27th January 2018 and features family-friendly activities. Visitors also stand the chance to receive exclusive PIDM giveaways when they participate in the activities.

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