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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:


   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

PIDM Brochure - English 
PIDM Brochure - Malay