Thursday, October 9, 2008

Malaysiakini : BANK GUARANTEE RM 60000 If Financial Problem Strike ?

To my surprised my blog appear on, I was so shock to find out how my blog can reach at I can't believe it. It just like a dream. My main intention in that article (Malaysiakini: DISASTER to COME in FINANCIAL MARKET Not POLITICs) was to alert the Malaysian people about what has really happen in our global financial system.

Everyone was talking about politics in Malaysia, change of new governments, Prime Minister to step down, Anwar to take over, Najib to fight back and etc......

But we must remember that if we don't pay a careful attention on this global financial problem, when time arrive we will be crying all the way and suffer the most.

We might be facing a bankruptcy in our National Bank. Who know ? This is One of The Deadliest Disasters of all time. Greater than the mother of Tsunami and Earth Quake.

Today we might live happily, enjoy the moment we have and talk about politics all the time but we wouldn't know whether this global financial problem will strike us just like a deadliest Cobra bite.

Lately European Union finance ministers swore to raise minimum bank deposit guarantees to 50,000 Euros (£38,000) as they battled to form a united front to deal with the global economic crisis.

In England, Prime Minister Gordon Brown has confirmed that the government plans to raise the guarantees for bank savings to £50,000 from £35,000 in a new banking law.

Protection of bank deposits has become a key public concern after the British government was forced to nationalise two mortgage lenders this year, Northern Rock and Bradford & Bingley.

In a consultation document released in July, the Treasury proposed increasing the compensation limit to £50,000, on a per person per bank basis.

Do you know the guarantees figure or the compensation limits for bank savings in Malaysia ? I bet a lot of Malaysian people don't know that figure. RM 60,000.00 (sixty thousand ringgit) per person per bank basis if I'm not wrong. If the Malaysia financial systems collapse, what ever you kept in your savings will be eligible to maximum compensation of RM 60,000.00 only on a per person per bank basis !


bangmalaysia said...

Yes, I fully agree with you. The impending economic/financial meltdown and disaster will hit us so hard that we won't be able to stand up. We are in deep shit, man. I have issued a severe warning on my blog:

The UMNO fellas are still haggling over the No1 and No 2 post. We need to sound the warnings loud and clear to them. This is no joke, man.

click1ting said...

ya, you are right. but you can have joint account, ie. your a/c, your spouse a/c, your joint a/c with spouse, children. each 60K x 4= 240K per bank per a/c. open up in all banks that suppoet PIDM, 240K or more if you have more children, x 5 banks = 1.2M.

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