Based on Kuwait Finance House’s FAQ on its website the bank has stated that PIDM protects depositors funds based on the maximum limit of RM250,000.
KFH recently announced that following a strategic review, its HQ made the decision to voluntarily withdraw from the Malaysian market and wind down its profitable Malaysian subsidiary, Kuwait Finance House Malaysia in line with the international business strategy to focus and expand in regional markets (Gulf Cooperation Council or GCC and Middle East).
As part of the wind down, the bank said it is in the process of evaluating a potential sale of its retail portfolio to prospective buyer. In view of this KFH has assured that it is fully committed to preserving interests and will ensure a smooth, transparent, and seamless transition with minimal inconvenience for its clients.
Stating that it has necessary financial means and liquidity to discharge all its liabilities, it said customers deposits will continue to be maintained securely and will continue servicing financing facilities as stipulated in the financing agreement.
KFH has also said that as a member of PIDM, customer deposits (excluding Gold Account -i and Junior Gold Account -i) are protected up to RM250,000 for each depositor.
