Effectively today (31st December 2010), the deposit insurance limit will be increased to RM250,000 per depositor per bank, announced Perbadanan Insurans Deposit Malaysia (PIDM).
Below is the summary of the said announcement:-
- The new PIDM Bill 2010 has been passed in Parliament.
- The limit of RM250,000 will protect 99% of retail depositors in full.
- Under the new Bill, foreign currency depositors will now enjoy deposit insurance protection.