Kuala Lumpur, 8 July 2015: Perbadanan Insurans Deposit Malaysia (PIDM) aims to create greater awareness about financial consumer protection and financial management among the community through its collaboration with the Lions Clubs International District 308 B1 Malaysia, consisting of 112 clubs.
The collaboration with Lions Club is another significant step as part of PIDM’s strategy to more effectively reach out to the community to promote confidence in the stability of the financial system in Malaysia.
“We want the public to know that PIDM is the national deposit insurer and that PIDM administers a sound financial consumer protection system which will protect depositors in the unlikely event of a bank failure,” said Encik Rafiz Azuan Abdullah, PIDM Executive General Manager.
“Besides raising awareness, our objective is also to educate the public on the benefits and limitations of the protection systems we administer. We hope that with more educated financial consumers, they will then be able to make better informed financial decisions,” he added.
The collaboration kicked off with the exchange of a letter of collaboration and a “Financial Awareness for All” talk in Kuala Lumpur recently. PIDM was represented by Encik Rafiz while Lions Clubs was represented by District Governor Lim Hoe Guan, Lions Clubs International District 308 B1 Malaysia.
Together with the Lions Clubs, PIDM will hold briefings about the role of PIDM and the financial consumer protection systems it administers, namely the Deposit Insurance System (DIS) and the Takaful and Insurance Benefits Protection System (TIPS), at financial awareness seminars to be held at various locations throughout the country.
“We continuously engage with others in order to reach out to the community. PIDM already has arrangements with the Federation of Malaysian Consumers Association (FOMCA) and the Malaysian Insurance Institute (MII),” Encik Rafiz further pointed out.
“On Lions Clubs’ part, this partnership with PIDM marks another milestone for District 308 B1, in line with our Lions motto “We Serve” and our theme of “Fulfill your Dreams” to create awareness of financial well-being among communities in Malaysia. Lions Clubs already works with the Credit Counselling and Debt Management Agency (AKPK). Now, together with PIDM and AKPK, we hope to organise more seminars on financial education,” said District Governor Lim.
For more information about this press release, kindly contact:
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.