smalllogo2.jpg PIDM is a Government agency established under Akta Perbadanan Insurans Deposit Malaysia (Akta PIDM). PIDM was set up in 2005 to administer the national deposit insurance system at protecting depositors. Beginning 31 December 2010, PIDM’s role has been expanded to administer the Takaful and Insurance Benefits Protection System to provide protection to owners of takaful certificates and insurance policies.

Deposit insurance is a system that protects depositors, whether individuals or businesses, against the loss of their insured deposits in the unlikely event of a member bank failure. The deposit insurance system in Malaysia is administered by PIDM. The Bank of Nova Scotia Berhad is a member of PIDM. The deposit type in our register below is eligible for protection under PIDM:
 
REGISTER INSURED DEPOSITS (CONVENTIONAL)
  Name of Deposit Type Deposit Type Currency *Deposit Product Code
1. Basic Savings Account Savings Deposit Ringgit  0209CR0200000001
2. Basic Current Account Demand Deposit Ringgit  0209CR0100000001
3. Fixed Deposit Account Fixed Deposit Ringgit  0209CR0300000001
4. Short Term Money Market Deposit (STMMD) Short Term Deposit Ringgit  0209CR0700000001
5. Foreign Currency Account Demand Deposit Foreign Currency  0209CF0100000001
6. Foreign Currency Short Term Deposit Short Term Deposit Foreign Currency  0209CF0700000001
 
Download PIDM Brochure :
2011 - PIDM Brochure - English
2011 - PIDM Brochure - Malay
2011 - PIDM Brochure - Chinese
2011 - PIDM Brochure - Tamil