13 May 2008
Citi to help insurers in financial reporting
Citi, rebranded from Citigoup, sees itself in a good position to help insurers cope with the upcoming risk-based capital (RBC) framework and increase the insurance penetration rate in Malaysia. [The Star]
http://biz.thestar.com.my/news/story.asp?file=/2008/5/13/business/21181197&sec=business
New rules on info of deposit insurance
The Malaysia Insurance Deposit Corp (PIDM) is expected to notify banks on new regulations on the provision of information on deposit insurance to the public in the third quarter this year. General manager, policy and international division Lai Wai Keen said the regulations, now at the final stage of approval, would need member institutions to accurately inform the public on products that were covered or not covered by deposit insurance. [The Star]
http://biz.thestar.com.my/news/story.asp?file=/2008/5/13/business/21231206&sec=business
15 May 2008
MAA Holdings expects decision by June
MAA Holdings Bhd (MAA) expects to identify its strategic partner to acquire a stake in its wholly-owned subsidiary Malaysian Assurance Alliance Bhd (MAA Assurance) by June. [The Edge]
http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_e5e61f22-cb73c03a-d5276a00-983d94a9
16 May 2008
Deposit insurance protects savings in banks
Store manager P. Tamil Selvam read much about banks going bust and became worried about his savings.But he found that his fear was unfounded after discovering Deposit Insurance (DI), a scheme that protects depositors in the event of bank failure."It is a huge relief to know my life savings will be insured," said the 36-year-old after attending a talk on Effective Financial Consumer Protection by the Malaysia Deposit Insurance Corporation (MDIC), an independent statutory body. [The Star]
http://thestar.com.my/metro/story.asp?file=/2008/5/16/southneast/21218882&sec=southneast