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Malaysia: Publication of Financial Sector Assessment Program Documentation—Detailed Assessment of Observance of Core Principles for Effective Deposit Insurance Systems
Author:
International Monetary Fund. Monetary and Capital Markets Department
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2013: Issue 060
Language:
English
Publication Date:
08 Mar 2013
DOI:
https://doi.org/10.5089/9781475585353.002
ISBN:
9781475585353
ISSN:
1934-7685
Pages:
75
Keywords:
ISCR; CR; deposit insurance system; deposit insurer; insurance coverage; financial system; legal costs; insurance scheme; membership decal; Deposit insurance; Insurance companies; Bank resolution framework; Commercial banks; Financial safety nets; Global
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This paper evaluates and addresses Malaysia’s compliance with the Core Principles for Effective Deposit Insurance Systems (Core Principles), and reviews relevant laws, regulations and regulatory and supervisory practices related to conventional banking sector, and the operations of Perbadanan Insurans Deposit Malaysia (PIDM). Though several weaknesses in the legal framework have been noted in this assessment, there has been no experience with bank failures in Malaysia since PIDM’s establishment in 2005. The paper also covers Islamic deposits, which manage a separate Islamic Deposit Insurance Fund (IDIF).
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund