Financial Awareness and Education for
Persons with Disabilities (PWD)
One-Stop-Centre for Financial Information for PWD
Your rights as a financial consumer
Know your rights and ensure that your best interests are being taken into consideration.
Financial services are meant for everyone, including you!
Fair and equal treatment to vulnerable consumer
- You should not be imposed extra additional conditions for the same services available to other customers by financial service providers (FSPs), without valid reasons.
- You can ask your FSP for assistance to support your needs.
- FSPs must be trained to recognise and assist vulnerable consumers.
What does it mean to be a “vulnerable consumer”?
- Faced challenges in accessing or require assistance in engaging in financial services e.g. due to disability or age
- Experienced adverse major life events resulting in temporary or long-term financial hardship (e.g. unemployment, temporary loss of income)
Clear and timely information
You have the right to receive complete information that is easy to understand before choosing a financial product.
- FSPs must explain the key features of the product in a clear, simple language (such as the risks, fees, and expected returns).
- You can ask for more information on terms that you do not understand before making any decision.
- Take enough time to read and consider the information provided.
Suitable advice and recommendations
You have the right to be dealt with due care, skill and diligence.
- Before giving you any advice or recommendations, FSPs must collect key information about you, such as your financial goals, personal circumstances and ability to afford the financial service or product. This helps them ensure that the financial service or product is suitable for you.
- The advice you receive depends on the information you share. So, always provide complete and accurate details.
- FSPs should also explain why a financial product is suitable for you. This helps you make an informed choice.
Right to complaints and redress mechanism
You have the right to submit a complaint if you feel you have been treated unfairly. This will not affect your access to financial services or products.
- You can submit your complaint to your FSPs’ complaint unit. The FSP should handle your complaint in a prompt, fair and effective manner.
- FSPs must thoroughly review all relevant facts and documents, and clearly explain the outcome of the complaint, including the reasons if your claim is rejected.
Five tips (ASK ME) to access financial services
What you can do:
Request help to fill out forms or if you need more information to understand the financial service or product.
Compare similar financial products to ensure the financial product best suits your need.
Inquire whether accessible materials or resources are available for you (e.g. Braille, bigger font size or screen-friendly PDF).
Ask for clear explanations about terms and conditions, product features, fees and charges.
Know where to lodge complaints and claims with your FSP.
As easy as 1-2-3: Three steps to make a complaint
Step 1
Submit your complaint to the Financial Service Provider (FSP)’s Complaint Unit
Step 2
Obtain a formal response and the final decision on your complaint from the FSP’s Complaint Unit
Step 3
If you do not receive feedback from the FSP Complaint Unit after 14 days, you may refer your case to BNMLINK at bnmlink.bnm.gov.my
Please visit BNM’s Complaints webpage (https://www.bnm.gov.my/complaints) for more details
or
If you are dissatisfied with the decision of the FSP, you may escalate your complaint to the relevant dispute resolution channel*
Alternative redress channels:
Agensi Kaunseling dan Pengurusan Kredit (AKPK)
Financial Markets Ombudsman Service (FMOS)
Legal Assistance
Tribunal for Consumer Claims
Corporate Debt Restructuring Committee (CDRC)
Improving Access to Financial Services for PWDs
PWDs may face challenges such as limited product options, lack of accessible information, or infrastructure that does not adequately accommodate their needs.
To help bridge these gaps, here are the compiled links to comparative tables by banking and insurance/takaful associations that provide useful information:
COMING SOON
Find Financial Products
Find a Branch Near Me
Need more information? Visit here:
Contract Terms which may be regarded as unfair
[Appendix 4 of FTFC Policy Document]