The Financial Mediation Bureau (FMB) is set up to help settle disputes between you (applies to both individuals and corporations) and the financial institutions, payment system operators and payment instruments issuers (financial services providers) who are its members.

The FMB is an independent body that provides you with a fast, convenient and efficient avenue to refer your complaints, disputes or claims for resolution as an alternative to courts and the services of the FMB is offered free charge.

The financial services providers who are members of the FMB are as follows:

• All commercial banks
• All financial companies
• All merchant banks
• All Islamic banks
• All insurance companies
• All takaful operators
• Malaysian National Reinsurance Berhad
• Development financial institutions
• Payment system operators
• Payment instrument issuers

The types of complaints, disputes or claims that you may refer to the FMB are:

All complaints, disputes and claims other than those in the exclusion list. This will include amongst others, disputes relating to the following:

Banking / financial related

• Personal loans or personal financing-i
• Housing loans or house financing-i
• Automated teller machine (ATM)
• Cash deposit machine
• Credit / charge card or credit / charge card-i
• Hire purchase or hire purchase-i
• Saving account or saving account-i
• Current account or current account-i
• Fixed deposit or general / special / specific investment account-i
• Remittances
• Electronic banking
• Internet Banking

Insurance / takaful related

• All life insurance / family takaful claims
• All general insurance / general takaful claims

For complaints, disputes or claims involving a financial loss, the amount claimed should not exceed the following:

Banking / financial related
RM100,000 (except for fraud cases involving payment instruments, credit cards, charge cards, ATM cards and cheques for which the limit is not more than RM25,000)

Insurance / takaful related

• RM200,000 (motor and fire insurance / takaful)
• RM5,000 (third party property damage)
• RM100,000 (others)

When to refer your cases to the FMB

Before the FMB can accept your case, you should first lodge a complaint with your financial services provider and try to resolve your complaint, dispute or claim with the institution concerned

If your complaint, dispute or claim cannot be resolved or you are not satisfied with the final response given to you by your financial services provider, you can refer your case to the FMB.

You need to submit your case to the FMB within six months of receiving a final decision from your financial services provider.

How to refer your case to the FMB

You can come personally to the FMB or write to the FMB by stating briefly the nature of your complaint, dispute or claim together with a copy of the relevant correspondence from your financial services provider, including a copy of the letter conveying the final decision.

You also need to complete a standard form prepared by the FMB that will authorise your financial services provider to disclose any confidential financial information related to the case to the FMB.

How FMB Works

If your complaint, dispute or claim is within the scope of the FMB, with your written authorisation, may obtain further information from your financial services provider regarding your complaint, dispute or claim and study the case, to see how best it can be resolved.

The FMB will investigate the complaint, dispute or claim based on the facts presented objectively. The FMB may conduct an interview with you or together with your financial services provider, through a mediation process to resolve the case. The FMB will then make a decision based on its own assessment. The decision of the FMB is binding on the financial services provider but not on you.

You can choose to accept or reject the decision of the FMB. If you do not accept, the decision is deemed cancelled and you are free to take any other steps in respect of the complaint, dispute or claim, including legal proceedings. However, if you do accept the FMB's decision, you may lose your right to proceed with legal action against the financial services provider.

The mediation proceedings are deemed to be a 'without prejudice proceeding'. The decision of the FMB or any part thereof relating to the findings or facts and expressions of views or opinion shall not be disclosed in any subsequent court proceedings or arbitration.

If you need more information, please contact the FMB at the following address:

The Financial Mediation Bureau
Level 25, No. 4
Jalan Sultan Sulaiman
50000 Kuala Lumpur

Tel: 03-2272 2811
Fax: 03-2274 5752

Website: www.fmb.org.my

Working hours: Monday to Friday (8.30 a.m. to 5.30 p.m.)

Exclusion

The FMB will not consider complaints, disputes or claims relating to general pricing, product policies or services of the members, credit decisions (approval, rejection and rescheduling of loans), fraud cases (other than for fraud cases involving payment instruments, credit cards, charge cards, ATM cards and cheque for which the limit is not more than RM25,000), cases which are time barred or more than 6 years and cases that have been or are referred to the court and / or for arbitration.