Post on 10-Apr-2018
Ref No DI/GL7/2010(DPI) Issued on 18 August 2010
TITLE Guidelines on Submission of Deposit Product Information
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TABLE OF CONTENTS
SECTION 1: INTRODUCTION ............................................................................................... 1
1.1 BACKGROUND .................................................................................................................. 1
1.2 ENQUIRIES ........................................................................................................................ 2
SECTION 2: INSURABILITY CRITERIA .................................................................................... 3
2.1 INSURABILITY CRITERIA .................................................................................................... 3
2.2 EXCLUDED DEPOSIT .......................................................................................................... 4
SECTION 3: CERTIFICATION OF DEPOSIT PRODUCTS ............................................................ 4
3.1 DEPOSIT PRODUCTS THAT HAVE ALREADY BEEN CERTIFIED BY PIDM AS INSURABLE .... 4
3.2 OTHER DEPOSIT PRODUCTS ............................................................................................. 5
SECTION 4: DPR FORMS ..................................................................................................... 5
4.1 SUBMISSION OF DPR FORMS ........................................................................................... 5
4.2 NEGOTIABLE INSTRUMENTS OF DEPOSIT ........................................................................ 5
4.3 REPURCHASE AGREEMENTS AND SELL AND BUY BACK AGREEMENTS (“REPOS”) .......... 6
4.4 INVESTMENTS LINKED TO DERIVATIVES .......................................................................... 7
4.5 COMBINATION-TYPE DEPOSIT PRODUCTS ....................................................................... 8
4.6 GUIDE TO COMPLETING THE DPR FORMS ....................................................................... 8
4.7 SUBMISSION OF COMPLETED DPR FORMS ...................................................................... 8
4.8 INSURABILITY STATUS OF DEPOSIT PRODUCTS................................................................ 9
4.9 SUBMISSION AFTER 30 SEPTEMBER 2010 ........................................................................ 9
4.10 SUBMISSION OF DECLARATION ...................................................................................... 10
4.11 IMPLEMENTATION OF THE PRODUCT REGISTRY SYSTEM AND ISSUANCE OF DEPOSIT
PRODUCT CODES ............................................................................................................ 10
APPENDIX A.....................................................................................................................11
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SECTION 1: INTRODUCTION
1.1 BACKGROUND 1.1.1 As members are aware, the Government Deposit Guarantee (“GDG”) is scheduled
to expire on 31 December 2010. Thereafter, the scope of coverage of insured
deposit products will be based on the provisions of the Malaysia Deposit Insurance
Corporation Act 2005 (“the Act”).
1.1.2 Also, certain deposits and instruments that are currently guaranteed under the
GDG may or may not be insured by PIDM on or after 1 January 2011, according to
how those deposits or instruments are assessed under PIDM’s insurability criteria.
1.1.3 In preparation for the exit of the GDG and to enable the member institutions
(“members”) to comply with the provisions in the draft Malaysia Deposit Insurance
Corporation (Provision of Information on Deposit Insurance) Regulations 20101
(“Information Regulations”), PIDM will resume the process of certifying all the
deposit products of members, in order to determine whether they are insurable or
not. Members will be separately advised when the Information Regulations are
ready to be implemented.
1.1.4 These Guidelines on Submission of Deposit Product Information (“Guidelines”)
apply to both Islamic and conventional members.
1.1.5 An overview of the process contemplated under these Guidelines is depicted in the
diagram below:
1 Scheduled to be effective on 1 January 2011
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1.2 ENQUIRIES
Enquiries on the Guidelines may be directed to legal@pidm.gov.my
Members' Deposit Products
Deposit products already certified by PIDM (see paragraph
3.1 of these Guidelines)
No action required under these Guidelines
Members will submit e-DPR forms in 2011 and Deposit Product
Codes will be issued to members by mid-2011
Deposit products not yet certified by PIDM. These are: (a) deposit products currently offered by
members; and (b) deposit products that will be launched by members.
Members to submit DPR Forms and the
product information documents under
these Guidelines not later than 30
September 2010
PIDM will inform members regarding
the insurability status of these products by
31 October 2010
PIDM will issue Deposit Product Codes to
members by mid-2011
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SECTION 2: INSURABILITY CRITERIA
2.1 INSURABILITY CRITERIA 2.1.1 A deposit product is insurable by PIDM if it satisfies the insurability criteria. The
insurability criteria are set out in the Guidelines on Insurability of Deposits2
(“Insurability Guidelines”), which will be issued in October 2010.
2.1.2 The insurability criteria are as follows:
(a) monies received by the member constitute an Islamic deposit or a
conventional deposit, whichever is the case, as defined under subsection 2(1)
of the Act;
(b) monies are received by the member in the usual course of its business of
deposit-taking. This criterion will exclude, for example, monies received from
Bank Negara Malaysia and monies received by the member strictly for the
purpose of payment transactions (e.g. payment through GIRO or an issued
traveller’s cheque);
(c) repayment of the principal amount is made in money and not in money’s
worth;
(d) the liability of the member in respect of monies received by it constitutes a
deposit liability or is treated as a “deposit accepted” in the records of the
member. Monies which are provided to the member as security for a
conventional credit facility or an Islamic financing facility are included in this
criterion if such monies are treated as a “deposit accepted” for purposes of
FISS reporting to Bank Negara Malaysia;
(e) the person entitled to a repayment by the member is identifiable from the
contract between the member and the depositor;
2 For the “Consultation Paper on Proposed Guidelines on the Criteria for Determining Insured Deposits” (issued in June 2007) and the “Responses on the Consultation Paper on the Proposed Guidelines on the Criteria for Determining Insured Deposits”, please visit PIDM’s website at www.pidm.gov.my
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(f) in the case of an Islamic product only, the monies deposited shall be used by
the member for one or more of the banking business purposes as specified by
Bank Negara Malaysia in its Framework Of Rate Of Return namely, provision
of finance, investment in securities, interbank placements, or such other
business prescribed by Bank Negara Malaysia that complies with Shariah;
(g) in the case of a conventional product only, the member is obliged to repay
the principal amount in full. This obligation may be specified in the contract
between the member and depositor, or by established principles of law, for
example, in the case of a savings or current account; and
(h) an investment linked to derivatives or a structured product3 may be eligible
for deposit insurance provided it satisfies the criteria set above. The fact that
deductions may be made from the principal amount on early withdrawal,
redemption or termination of an investment by the investor or the member,
prior to the maturity date of such investment does not, by itself, mean that
the criteria cannot be fulfilled.
2.2 EXCLUDED DEPOSIT 2.2.1 The Act also provides that certain deposit products are excluded from deposit
insurance.
SECTION 3: CERTIFICATION OF DEPOSIT PRODUCTS
3.1 DEPOSIT PRODUCTS THAT HAVE ALREADY BEEN CERTIFIED BY PIDM AS INSURABLE 3.1.1 Prior to the implementation of the GDG, members have submitted and PIDM has
certified certain of their deposit products as insurable (“Existing Insurable Deposit
Products”).
3.1.2 No action from the members is required under these Guidelines in respect of the
Existing Insurable Deposit Products.
3 Including any investment product that falls within the definition of “securities” under the Securities
Commission Act 1993 and which derives its value by reference to the price or value of an underlying reference (e.g. any security, currency, commodity, index or other assets or reference, or combination of such assets or reference).
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3.2 OTHER DEPOSIT PRODUCTS 3.2.1 We are resuming the process of certifying members’ deposit products to confirm
their insurability status. The deposit products that PIDM will certify are those that:
(a) are currently offered by the members; and (b) will be launched by the members.
3.2.2 The cut-off date for submission of the information on deposit products referred to in
Section 3.2.1 is 30 September 2010. PIDM will inform members regarding the
insurability status of these products by 31 October 2010. Notwithstanding the cut-
off date, members are required to submit to PIDM, information regarding new
deposit products that will be launched after 30 September 2010.
3.2.3 Enclosed in the Guidelines is a CD containing softcopies of the deposit product
registration forms (“DPR Forms”) in MS Word for Islamic deposit product and
conventional deposit product respectively. The contents of the Islamic and
conventional DPR Forms are in Appendix A of the Guidelines.
SECTION 4: DPR FORMS
4.1 SUBMISSION OF DPR FORMS 4.1.1 The Islamic and conventional DPR Forms set out the questions to be completed
by the members. Members are required to use the Islamic DPR Form for Islamic
deposits and conventional DPR Form for conventional deposits. Subject to the
specific provisions on negotiable instruments of deposits, repurchase
agreements, investments linked to derivatives and combination‐type of deposit
products below, members are required to complete one DPR Form for every
deposit product offered.
4.2 NEGOTIABLE INSTRUMENTS OF DEPOSIT
4.2.1 Conventional negotiable instruments deposits (“NIDs”) and Islamic negotiable
instruments (“INIs”) are not insurable by PIDM.
4.2.2 In respect of conventional NIDs, the DPR Form is to be submitted according to the
type of the NIDs. The members are to submit one DPR Form, on a collective and one-
off basis, for each type of NID, namely, fixed, zero coupon or floating rate or a
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combination of either of the three. The members are also required to submit one (1)
set of master or generic deposit product information4 applicable for that type of NID.
Example: A member has issued numerous zero coupon NIDs. One DPR Form is to be
submitted in respect of the zero coupon NIDs issued on a collective and on-off basis.
The master or generic deposit product information is to be submitted. The member is
not required to submit a new DPR Form in respect of new launches or issuance of
zero coupon NIDs.
4.2.3 In respect of INIs, the DPR Form is to be submitted according to the Shariah contract
or contracts applied to the INIs. Members are required to submit one DPR Form, on
a collective and one-off basis, for each group of INIs that apply the same Shariah
contract or contracts. The members are required to submit one (1) set of master or
generic deposit product information applicable for that type of INI.
Example: A member has issued numerous INIs according to the Shariah contract of
Mudharabah. One DPR Form is to be submitted in respect of this type of INIs on a
collective and on-off basis. The master or generic deposit product information is to be
submitted. The member is not required to submit a new DPR Form in respect of new
launches or issuance of INIs that are based on the Shariah contract of Mudharabah.
4.3 REPURCHASE AGREEMENTS AND SELL AND BUY BACK AGREEMENTS (“REPOS”) 4.3.1 Conventional repurchase agreements (“conventional repos”) and Sell and Buy Back
Agreement (“Islamic repos”) are not insurable by PIDM.
4.3.2 In respect of conventional repos, members are required to submit one DPR Form, on
a collective and one-off basis, for all types of conventional repos. The members are
also required to submit one (1) set of master or generic deposit product information
applicable for the conventional repos.
4.3.3 In respect of Islamic repos, members are also required to submit one DPR
Form, on a collective and one‐off basis, for all types of Islamic repos. The members
are also required to submit one (1) set of master or generic deposit product
information applicable for the Islamic repos.
4 Product brochure, term sheet, contract terms and conditions, deposit application form, sample deposit placement receipt and/or product description.
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4.4 INVESTMENTS LINKED TO DERIVATIVES
4.4.1 Generally, conventional investments linked to derivatives or structured products
(“ILDs”) are insurable if they are 100% principal guaranteed if held to maturity
provided that they satisfy the other insurability criteria.
4.4.2 In respect of non‐principal guaranteed conventional ILDs, the DPR Forms are
to be submitted according to the underlying reference or combination of
underlying references. Hence, members are required to submit one DPR Form, on a
collective and one‐off basis for each group of ILDs that derive their values by
reference to the same type of underlying reference or the same combination of
underlying references. Members are not required to submit a fresh DPR Form in
respect of future launches of that group of ILDs. The members are required to
submit one (1) set of master or generic deposit product information
applicable for that type of ILDs.
Example: If a member has issued numerous non-principal guaranteed conventional
ILDs that derive their values by reference to the price of commodity, then, one DPR
Form is to be submitted for this group of ILDs. The member does not need to submit a
fresh DPR Form in respect of future launches of ILDs that derive their values by
reference to the price of commodity. If the underlying references of the non-principal
guaranteed conventional ILDs are a combination of commodity and another
reference, the member will have to submit a separate DPR Form in respect of that
group of ILDs.
4.4.3 Generally, conventional ILDs which are 100% principal guaranteed are insurable,
subject to these ILDs meeting the insurability criteria. As such, PIDM will assess
these ILDs against the insurability criteria to determine their respective insurability
status. Members are required to submit one DPR Form for each principal
guaranteed conventional ILD. The members are required to submit the deposit
product information for that ILD.
4.4.4 Members are required to submit one DPR Form for each Islamic ILD. The members
are required to submit the deposit product information for that ILD.
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4.5 COMBINATION-TYPE DEPOSIT PRODUCTS 4.5.1 These refer to deposit products that are made up of two or more deposit
products (“component deposit product”) but are “packaged” together and
marketed under one brand or name. Under these circumstances, the member is
to submit one DPR Form for each component deposit product.
Example 1: A member offers a foreign currency savings account and a foreign
currency fixed deposit account. These accounts are marketed under one brand. The
member is required to submit one DPR Form each for the foreign currency savings
account and the foreign currency fixed deposit account, together with the relevant
deposit product information for these accounts.
Example 2: A member offers a cheque book facility in respect of its savings account.
One DPR Form is to be submitted in respect of the savings account. This is not a
combination‐type account.
4.6 GUIDE TO COMPLETING THE DPR FORMS
4.6.1 Appendix A sets out the instructions and guidance to assist members to complete the DPR Forms.
4.7 SUBMISSION OF COMPLETED DPR FORMS
4.7.1 Members are required to submit the softcopy of the completed DPR Forms (in MS Word) together with the softcopies of the deposit product information in the following manner:
(a) members are to create one folder for each deposit product and save, in
the said folder, the softcopies of the completed DPR Form and the
deposit product information. Separate folders should be created for
separate deposit products. Please follow this naming convention for the
folder: name of the member‐name of the deposit product-deposit type, for
example, abc‐super‐fd (where ABC is the name of the member, Super
Returns is the name of the product and the deposit type is fixed deposit).
Use short words, if possible;
(b) the DPR Form and the deposit product information are to be saved
according to their document type, namely, dpr for DPR Form; bre for
Product Brochure; ts for Term Sheet; appn for Application Form; rect for
Sample Deposit Placement Receipt; illus for Product Description or
Illustration and formula for the Formulation for Calculation of Interest;
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(c) the DPR Form is to be saved as an MS Word document. The deposit
product information and other attachments are to be saved in any of the
following file formats: (a) xls; (b) xlsx; (c) doc; (d) docx; (e) ppt; (e) pptx; (f)
pdf (searchable); (g) txt; or (h) rtf. If the aforesaid file formats are not
available, please save in any of the following: (a) jpeg; (b) jpg; (c) bmp; (d)
tiff; (e) gif; (f) png; or (g) pdf (not searchable); and
(d) the folders in respect of all the deposit products submitted are to be saved in
a CD(s) and delivered to PIDM by 30 September 2010. See below for the
illustration:
abc‐super‐fd [Folder name of the deposit product] .......... dpr.doc [File name for DPR Form] ......... bre.txt [File name for Brochure] .......... ts.doc [File name for Term Sheet] .......... appn.pdf [File name for Application Form] .......... rect.ppt [File name for Sample Deposit Placement Receipt] .......... illus.txt [File name for the Product Description or Illustration]
.......... formula.txt [File name for the Formulation for Calculation of Interest]
4.8 INSURABILITY STATUS OF DEPOSIT PRODUCTS 4.8.1 PIDM will inform the members, not later than 31 October 2010, regarding the
insurability status of the deposit products submitted. 4.9 SUBMISSION AFTER 30 SEPTEMBER 2010
4.9.1 Notwithstanding the cut‐off date referred to in Section 3.2.1, members are
required to submit to PIDM, the deposit product information regarding new
deposit products that will be launched after 30 September 2010 to enable PIDM to
assess their insurability status.
4.9.2 The deposit product information referred to in Section 4.9.1 and the completed
DPR Form should be provided to PIDM at least 14 business days before the
expected launch date. Members can submit to PIDM the draft version of the
deposit product information rather than the final version. However, there should
not be any amendments to the draft deposit product information after the
submission which will affect or change any of the answers given in respect of the
questions marked with an asterisk (*) in the DPR Forms in Appendix A, as such
change may affect the deposit product code or the insurability status of the
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deposit product. Where the draft version of deposit product information is given
to PIDM, members are required to submit the final documents immediately
upon launching the deposit product. Members are also required to inform PIDM if
the deposit products are not launched.
4.10 SUBMISSION OF DECLARATION
4.10.1 Upon informing the members regarding the insurability status of the deposit
products or soon thereafter, PIDM will request the members to sign the relevant
declarations. The person signing the Declaration must be a senior officer designated
by the member, holding a senior position in Management or charged with the
responsibility of a department within the member, and is able to engage PIDM in
discussions and clarification on the deposit product.
4.11 IMPLEMENTATION OF THE PRODUCT REGISTRY SYSTEM AND ISSUANCE OF DEPOSIT PRODUCT CODES
4.11.1 When the Product Registry System is implemented by PIDM in 2011, PIDM will
require members to submit the electronic DPR forms (“e‐DPR Forms”) in respect
of the Existing Insurable Deposit Products and all new deposit products to be
launched by the members during that time. The contents of the e‐DPR Form will
be substantially similar to the DPR Forms. Members will be advised on this in due
course.
4.11.2 The deposit product codes in respect of all the deposit products will be issued to
the members in mid‐2011.
Perbadanan Insurans Deposit Malaysia 18 August 2010
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APPENDIX A (Instructions and Guidance to Complete the DPR Form)
A. MEMBER INSTITUTION’S INFORMATION
QUESTIONS FURTHER DETAILS
1.* Name and FISS Code Fill in the name of the Bank and the FISS Code.
2. Name of Contact Person Fill in the name of the officer completing this form (“Officer”).
3. Designation Fill in the designation of the Officer.
4. Department Fill in the department in which the Officer works.
5. Street Name 1 Questions 5 – 9: Fill in the address where the Officer works.
6. Street Name 2
7. City
8. Postcode
9. State
10. Telephone No. Fill in the Officer’s telephone number and the general number.
11. Fax No. Fill in the Officer’s fax number.
12. Email Address
Fill in the Officer’s e‐mail address. We will not accept postmaster or general use e‐mail addresses, eg. enquiry@bank.com.
13. MI Reference
This is the reference number that the Bank may insert so that PIDM can quote this reference if there is a need to correspond on this matter.
14. MI Business Type Conventional Banking Islamic Banking
Both This refers to the type of banking business the Bank operates. If the Bank operates both conventional and Islamic banking (window), then the Bank is to select “Both”.
B. DEPOSIT PRODUCT INFORMATION
QUESTIONS FURTHER DETAILS
15. Name of Product Fill in the name of the Product.
16. Date of Launch If the Product is already launched, and the date is not known, to state “Already Launched; Launch Date Not Available”.
If the Product will be launched and the launch date is not known, to provide answer in general terms, eg, first quarter of 2011.
Where one DPR Form is to be submitted for launched deposit products on a collective basis (eg: NIDs and Repos), to state “Collective
Submission ‐ Various Launch Dates”.
* See paragraph 4.9.2 of the Guidelines. If draft versions are submitted, there must not be any changes to this answer
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17. Please indicate which of the following documents are attached:
Product brochure Term Sheet Contract Terms & Conditions
Deposit Application Form Sample Deposit Placement Receipt
Product Description or Product Illustration
Others (please specify)
Select the documents you have attached. If a master agreement is applicable for various deposit products, members have to attach the master agreement for every deposit product and indicate the sections in the master agreement that are relevant for the deposit product.
18.* What is the deposit
currency?
Ringgit Only Foreign Only Ringgit and Foreign
Select the currency type of the deposit product.
19.* Please select ONE of the
following deposit types:
Demand Deposit Savings Deposit Fixed Deposit Specific Investment General Investment Commodity Murabahah Short Term Deposit Bearer Deposit
Negotiable Instrument of Deposit / Islamic Negotiable Instrument Repurchase Agreement
Money Market Deposit Investment Linked to Derivatives Offered / Structured Product
Other Deposits Accepted (please specify) Select the deposit type.
Please note that “Money Market Deposit” referred to above means a deposit in a specific account opened or maintained with a member
who is an approved interbank institution (approved by Bank Negara Malaysia) expressly for the purpose of placement in the interbank money market (including, where applicable, the Islamic Interbank Money Market).
* See paragraph 4.9.2 of the Guidelines. If draft versions are submitted, there must not be any changes to this
answer
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C. INFORMATION RELATING TO INVESTMENT LINKED TO DERIVATIVES/STRUCTURED PRODUCT
QUESTIONS FURTHER DETAILS
20.* Please state the category of
underlying assets/reference
or combination of
underlying reference
State the type of underlying reference or the combination of underlying
references ( eg. security, index, currency, commodity or other assets or
reference).
21. Have you obtained the
necessary approvals from
the Securities Commission
and Bank Negara Malaysia
in respect of the issue,
offer, invitation for or
making available this ILD?
Yes
No
If Yes, to attach copies of the approval.
22. * If repayment of principal is
not by way of money,
please state how or in what
method will the principal be
repaid
To complete if applicable.
D. SPECIAL CONDITIONS
QUESTIONS FURTHER DETAILS
23. Are there any special
conditions for this product?
Yes
No
If your answer to question 23 is Yes, please answer question 24
If there is a special condition for a customer to meet in order to be eligible to
open an account of this deposit product, to select “Yes” and provide the
information in Question 24.
24. Please select the special
condition that applies and
provide the details
Age
Income Level
Occupation
Purpose of Account
Others (please specify)
Eg. if only adults above 55 years of age are eligible to open this account, to
select “Age” and state that only adults above 55 years of age are eligible to
open this account.
* See paragraph 4.9.2 of the Guidelines. If draft versions are submitted, there must not be any change to this
answer
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E. DEPOSIT PRODUCT INFORMATION
1. ISLAMIC DPR FORM
QUESTIONS FURTHER DETAILS
25.* Is this an Islamic deposit? Yes
No
If your answer to question 25 is Yes, please answer question 26
This is an Islamic DPR Form, and if the deposit product is an Islamic deposit,
to select “Yes”. For conventional deposit products, use the Conventional DPR
Form.
Notwithstanding that an Islamic ILD is referred to as an “investment”, it will
qualify as an Islamic deposit if it fulfils the definition of Islamic deposit
referred to below.
26. Please specify which clause in
which document supports
your answer
An Islamic deposit is a “sum of money or money’s worth received or paid
on terms by any person, under which the receipt and repayment shall be in
accordance with the terms of any agreement consistent with the
Shariah”.
If there is no specific clause in any of the documents attached to support
your ” Yes” answer to Question 26, a sample response could be: There is
no specific clause in any of the documents attached. The money is received
or paid on terms under which the receipt and repayment shall be in
accordance with the terms of any agreement consistent with the Shariah.
Please tick all applicable Shariah contracts and specify the tiering amount or percentage below
27. How is the tiering
apportioned?
By Amount
By Percentage
If there are 2 or more Shariah contracts applicable for the deposit product, to
state if the tiering is apportioned according to amount or percentage.
28. * Please select all that apply
and specify the amount /
percentage and indicate the
ranking
Wadiah
Qard
Murabahah
Wakalah
Musyarakah
Mudharabah
Other
If there are more than two (2) Shariah contracts, to select the applicable
Shariah contracts. If tiering is apportioned by amount, to state the amount
and if by percentage, to state the percentage. To also indicate the ranking of
the respective Shariah contracts. If there is no tiering, please state “No tiering
applicable”.
Eg. If the Shariah contracts of Wadiah and Mudharabah are applicable, to
select both Wadiah and Mudharabah. If tiering is apportioned by amount,
* See paragraph 4.9.2 of the Guidelines. If draft versions are submitted, there must not be any change to this
answer
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QUESTIONS FURTHER DETAILS
state the amount apportioned for Wadiah and Mudharabah respectively. Also
state which of the Shariah contract ranks first and which, second.
29. Is profit payable on the
deposit?
Yes
No
If your answer to question 29 is Yes, please answer question 30
30. Please attach the formulation for the calculation of profit, the reference rate for the
calculation of profit, the
compounding period
and/or the reset date
(whichever is applicable)
Yes, formula attached
To state the formulation for the calculation of profit, the reference rate for
the calculation of profit, the compounding period and/or the reset date
(whichever is applicable) on a document and attach here.
31.* Will moneys deposited be
used within Bank Negara
Malaysia’s Framework of Rate
of Return, namely, provision
of finance, investment in
securities, interbank
placements, or such other
business prescribed by Bank
Negara Malaysia that complies
with Shariah?
Yes
No
32. Is specific approval required
from Bank Negara Malaysia or
Syariah Advisory Council?
Yes
No
If your answer to question 32 is Yes, please answer question 33
This question applies only to new non-ILD deposit products that have yet to be
launched.
33. Please attach a copy of the
specific approval required from
Bank Negara Malaysia or
Syariah Advisory Council
Yes, approval attached
* See paragraph 4.9.2 of the Guidelines. If draft versions are submitted, there must not be any change to this answer
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2. CONVENTIONAL DPR FORM
QUESTION FURTHER DETAILS
25. * Is this a conventional (i.e.,
non‐Islamic) deposit?
Yes
No
If your answer to question 25 is Yes, please answer question 26
This is a Conventional DPR Form, and if the deposit product is a conventional
deposit, to select “Yes”. For Islamic deposit products, use the Islamic DPR
Form.
Notwithstanding that a conventional ILD is referred to as an “investment”, it
will qualify as a Conventional deposit if it fulfils the definition of deposit
referred to below.
26. Please specify which clause in
which document supports
your answer
A deposit is “a sum of money received or paid on terms under which it will be
repaid or is repayable, with or without interest or a premium, or with any
consideration in money, either on demand or at a time or in circumstances
agreed by or on behalf of the person making the payment and the person
receiving it”.
If there is no specific clause in any of the documents attached to support
your “Yes” answer to Question 26, a sample response could be: There is
no specific clause in any of the documents attached. The money is
received from the customer on terms that it will be repaid or is
repayable, @
with/without interest or a premium, or with any
consideration in money, either on demand or at a time or in
circumstances agreed by or on behalf of the member and the customer
(@
delete whichever inapplicable)
27. *
Is the MI obliged to repay the
principal in full?
Yes
No
If your answer to question 27 is Yes, please answer question 28
28. Please specify which clause in
which document supports
your answer
The obligation to repay in full may be specified in the contact between
the member and the depositor, or by established principles of law.
For ILDs, the fact that deductions may be made from the principal
amount on early withdrawal, redemption or termination of an
investment by the investor, prior to the maturity date of such investment
does not, by itself, mean that the criterion cannot be fulfilled.
29. Is interest payable on the
deposit?
Yes
No
If your answer to question 29 is Yes, please answer question 30
30. Please attach the formulation
for the calculation of interest,
the reference rate for the
calculation of interest, the
compounding period and/or
the reset date (whichever is
applicable)
Yes, formula attached
To state the formulation for the calculation of interest, the reference rate for
the calculation of interest, the compounding period and/or the reset date
(whichever is applicable) on a document and attach here.
* See paragraph 4.9.2 of the Guidelines. If draft versions are submitted, there must not be any change to this answer
Ref No DI/GL7/2010(DPI) Issued on 18 August 2010
TITLE Guidelines on Submission of Deposit Product Information
Page 17
3. ISLAMIC DPR FORM AND CONVENTIONAL DPR FORM
QUESTIONS FURTHER DETAILS
34.*
(315
)
Is this deposit repayable
outside Malaysia?
Yes
No
Withdrawal of money via an ATM outside Malaysia does not render the
deposit as one that is repayable outside Malaysia.
35. *
(32)
Is this deposit in a foreign
currency?
Wholly in foreign currency
Partly in Ringgit and partly in foreign currency
No (MYR only)
36. *
(33)
Is this a money market
deposit?
Yes
No
“Money Market Deposit” means a deposit in a specific account opened or
maintained with a member who is an approved interbank institution
(approved by Bank Negara Malaysia) expressly for the purpose of placement
in the interbank money market (including, where applicable, the Islamic
Interbank Money Market).
37. *
(34)
Is this a bearer deposit? Yes
No
38. *
(35)
Is this a negotiable instrument
of deposit?
Yes
No
39.*
(36)
Is this a deposit pursuant to a
repurchase agreement?
Yes
No
5 The numbers in parenthesis correspond to the Conventional DPR Form
Ref No DI/GL7/2010(DPI) Issued on 18 August 2010
TITLE Guidelines on Submission of Deposit Product Information
Page 18
F. DEPOSIT LIABILITY
QUESTION FURTHER DETAILS
40.*
(376
)
Is the deposit received in the
usual course of the MI’s
business of deposit taking?
Yes
No
(If your answer to question 40 is Yes, please answer question 41)
This will exclude, for example, monies received from Bank Negara Malaysia
and monies received by the members strictly for the purpose of payment
transactions (eg. payment through GIRO or an issued traveller’s cheque).
41.
(38)
Please specify which clause in
which document supports
your answer
If there is no specific clause in any of the documents attached to support
your “Yes” answer to Question 40, to state that there is no specific clause in
any of the documents attached and that the deposit is received in the usual
course of the member’s business of deposit taking.
42.*
(39)
Is the deposit repayable in
money?
Yes
No
(If your answer to question 42 is Yes, please answer question 43)
This includes payment by way of cash, or cheque payment or crediting into a
deposit account with the member. The answer is No if the deposit is
repayable in money’s worth, for example, by the delivery of a commodity.
43.
(40)
Please specify which clause in
which document supports
your answer
If there is no specific clause in any of the documents attached, to explain if
the deposit is repayable in money.
44.*
(41)
Is the MI’s liability a deposit
liability or a deposit
accepted?
Yes
No
(If your answer to question 44 is Yes, please answer question 45)
This is based on the member’s reporting to Bank Negara Malaysia
under the Guideline for Submission of FISS Reports.
Monies which are provided to the member as security for a
conventional credit facility or an Islamic financing facility are regarded
as a deposit liability or deposit accepted if such monies are treated as a
“deposit accepted” for purposes of FISS reporting to Bank Negara
Malaysia.
45.
(42)
Please specify which clause in
which document supports
your answer
If there is no specific clause in any of the documents attached to support
your “Yes” answer to Question 44, to state the FISS Code that is or will be
submitted to Bank Negara Malaysia under the Guideline for Submission of
FISS Reports.
46.*
(43)
Is the person entitled to
repayment identifiable from
the contract with the
depositor?
Yes
No
(If your answer to question 46 is Yes, please answer question 44)
* See paragraph 4.9.2 of the Guidelines. If draft versions are submitted, there must not be any change to this answer
6 The numbers in parenthesis correspond to the Conventional DPR Form