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PIDM deposit insurance information for secure bankingOverview of deposit protection under PIDM for account holders

List of Insured Deposits Under PIDM

Protecting your funds

 

 

 

Deposit insurance is a system that is established by the Government to protect depositors against the loss of their insured deposits placed with banks in the unlikely event of a bank failure. The deposit insurance system also aims to enhance the consumer protection framework and promote financial system stability.

 

The deposit insurance system in Malaysia was launched in September 2005 and is administered by Perbadanan Insurans Deposit Malaysia (PIDM). PIDM is a Government agency established under the Malaysia Deposit Insurance Corporation Act 2005.

 

With the introduction of a deposit insurance system in Malaysia, depositors receive protection for their deposits with banks and/or financial institutions. Depositors will know how and when reimbursement of their deposits will be made in the event of a bank failure.

 

The following are deposit accounts held by or for an individual, company or NGO which will be insured up to the limits specified in the Malaysia Deposit Insurance Corporation Act 2005.

 

 

 

  • No.
  • Product Name
  • Shariah Contract (s)
  • Deposit Type
  • Currency
  • Product Code
No. Product Name Shariah Contract (s) Deposit Type Currency Product Code
1 Basic Current Account-i Qard Demand Deposit Ringgit 0226IR0100200001
2 Basic Savings Account-i Qard Savings Deposit Ringgit 0226IR0200200001
3 Current Account-i Qard Demand Deposit Ringgit 0226IR0100200002
4 Current Account-i Tawarruq Demand Deposit Ringgit 0226IR0100400002
5 Non-Chequeing Acct-i Tawarruq Demand Deposit Ringgit 0226IR0100400001
6 FD Plus-i Tawarruq Commodity Murabahah Ringgit 0226IR0600400001
7 Investment FCA-i Tawarruq Demand Deposit Foreign 0226IF0100400002
8 Islamic Fixed Deposit-i Tawarruq Commodity Murabahah Ringgit & Foreign 0226IM0600400001
9 Money Market Deposit-i Tawarruq Short Term Deposit Ringgit & Foreign 0226IM0700400001
10 Trade FCA-i Tawarruq Demand Deposit Foreign 0226IF0100400001
11 ProSave Account-i Tawarruq Savings Deposit Ringgit 0226IR0200400001
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