Perbadanan Insurans Deposit Malaysia (PIDM) and the Philippine Deposit Insurance Corporation (PDIC) signed a Memorandum of Understanding (MOU) in Manila, the Phillipines, on 18 June 2013. The MoU aims to mutually enhance the effectiveness of both countries’ deposit insurance systems.
The agreement was signed by Mr. Jean Pierre Sabourin, PIDM Chief Executive Officer, and Mr. Valentin A. Araneta, PDIC President. It was witnessed by Ms. Lee Yee Ming, PIDM General Manager of Policy and International Division and Ms. Imelda S. Singzon, PDIC Executive Vice President. The signing ceremony was held in conjunction with the 39th International Association of Deposit Insurers (IADI) Executive Council Meeting hosted by the PDIC.
The 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, trainings and seminars as well as bilateral meetings.
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.