Consumers Association of Penang

Giving voice to the little people...since 1970

The Financial Mediation Bureau

When you have problems with goods or services you seek out the Consumer Claims Tribunal. For problems with your developer you can turn to the Homebuyer Claims Tribunal.

For those with banking or insurance problems they can seek out the Financial Mediation Bureau (FMB).

What is the role of the FMB?

It is a body set up to settle problems that may arise between consumers and the financial service providers.

Who are the financial service providers?  

They are:
  • Banks both conventional and Islamic,
  • Investment banks,
  • Insurance companies and takaful operators
  • Card operators  like MBF Cards (M’sia) Sdn Bhd and Diners Club (M’sia ) Sdn Bhd
  • Malaysian Reinsurance Bhd
  • Financial Development Institutions (e.g.  Bank Kerjasama Rakyat (M’sia) Bhd , Bank   Simpanan Nasional, Bank Pertanian Malaysia Bhd)
Do I have to pay for using the FMB?

The service of the FMB is free. It therefore provides a cheap alternative to going to court.

Is the decision of the FMB binding on all parties?

Unlike the Tribunals whose decision is binding on both parties, the decision of the FMB is only binding on the financial service provider, not on you the complainant.  If you are unhappy with the FMB’s decision you are free to pursue legal action against the company.  

What are the issues that I can bring to the FMB?

The types of complaints and disputes that are handled by  FMB are:
  • Banking services (conventional and Islamic)
  • Loans (personal, housing or hire-purchase)
  • Bank Accounts ( e.g. savings, current, fixed deposit, general investment etc)
  • Credit card and charge card
  • Remittances/electronic banking
  • Electronic banking ( Automatic teller machine and cash deposit machine)
The limit for the sum involved is RM100, 000 unless it is to do with fraud.  For fraud cases involving for example credit cards, charge card, ATM cards and cheques the limit is lower at RM25, 000.

Insurance/Takaful matters

The scope covers all life insurance /family takaful claims and all general insurance and general takaful claims.  However the limits vary.  They are:
  • Up to RM200, 000 for motor and fire insurance/takaful policy
  • Up to RM100, 000 for other types of insurance/takaful policies such as medical, personal accident and travel insurance
  • Up to RM5, 000 for third party property damage claims
Are there complaints that the FMB will not entertain?

The FMB will not entertain complaints on the following:
  • General pricing, product policies or services  (types or quality)
  • Credit decisions (approval, rejection and rescheduling of loans)
  • Fraud cases exceeding RM25,000
  • Cases which are time barred for more than 6 years
  • Cases that have been referred to the court or for arbitration.
When can I refer my case to the FMB?

Before the FMB will take up a case, the consumer must have tried to settle the problem with the bank or insurance company.

Only if it is not solved to his satisfaction, can he submit his case to the FMB.  This has to be done within 6 months upon receiving the final decision of the financial service provider.

The FMB can be contacted at the following address :

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

Tel:     03-22722811
Fax:     03-22745752

Email: enquiry@