PIDM publishes Corporate Plan 2021 – 2023, focuses on responsiveness

Kuala Lumpur, 2 February 2021: Perbadanan Insurans Deposit Malaysia (PIDM) publishes its ‘Summary of the Corporate Plan 2021 – 2023’.
 
The three-year rolling plan is themed ‘Investing in Heightened Responsiveness’ and reflects PIDM’s ongoing commitment towards intensifying its operational and resolution readiness.
 
The plan highlights some of PIDM’s significant strategic objectives for 2021 to 2023:
 
  • Preparedness: to elevate its state of responsiveness to any member institution failure, with an emphasis on simulations with key strategic partners for effective coordination and cooperation.
  • Organisational: to continue to nurture an agile mindset through a culture of learning and growth.
  • Visibility and reputation: to increase the visibility and reputation of PIDM for trust and confidence in its people and its systems.
  • Operational: to continue to enhance information security practices and develop a digital transformation plan.
 
PIDM’s financial consumer protection systems are an important part of Malaysian’s financial system resilience.
“Our priority is to promote confidence in the resilience of our financial system through our protection systems and the tools available to us. Today’s uncertain environment compels us to focus our energies on heightening PIDM’s ability to respond quickly and effectively to uncertainty, so that depositors and other financial consumers continue to be protected even in environments of stress,” said Rafiz Azuan Abdullah, Chief Executive Officer of PIDM.
 
Rafiz' views about PIDM, its people and its plans for the future are further elaborated in this short video interview, which is available on the PIDM website.
 
For the financial year 2021, PIDM expects to receive premiums and levies amounting to RM325 million from its member institutions for its protection funds. It also expects to receive an investment income of RM150 million, a portion of which will be used to fund PIDM's operational expenses.
 
The Summary of the Corporate Plan 2021 – 2023 is available in Bahasa Malaysia and English.
 
For more information about this press release, please contact:
 
Sarina Ariffin, Deputy General Manager, Communications and Public Affairs Division (Tel: 03-2173 7457; Email: sarina@pidm.gov.my)    
 
Masami Mustaza, Senior Manager, Communications and Public Affairs Division
(Tel: 016-3643406; Email: masami@pidm.gov.my)
 
ABOUT PIDM
PIDM is a statutory body that provides protection, up to prescribed limits, against the loss of deposits and insurance or takaful benefits in the event of a member institution failure. PIDM is entirely funded by premiums or levies assessed on its member institutions and does not receive public funds to operate. It has the means under the PIDM Act to borrow or raise such funds as may be needed to fulfil its statutory obligations to protect financial consumers of its member institutions. As an integral part of the national financial safety net, PIDM promotes and contributes to the stability of the financial system.
 
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