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:
| LIST OF 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 | Foreign Currency | Foreign Currency | 0209CF0700000001 |
Download PIDM Brochure
