You may bring a dispute to the OFS if you are a financial consumer who uses or has used any financial services or products provided by a Member –
- for personal, domestic or household purposes; or
- in connection with a small business.
- A financial consumer includes:
(i) a person insured under group policy or a person covered under a group takaful certificate where the premiums or contributions are paid by the person insured or the person covered, as the case may be; and
(ii) a third party who is:
- an insurance or a takaful claimant for motor third party property damage;
- a guarantor for credit facilities granted by a FSP;
- a nominee or a beneficiary under life policy/family takaful certificate or a personal accident policy/ takaful certificate, including a beneficiary under a group policy or a group takaful certificate where the premiums or contributions are paid by the person insured or the person covered, as the case may be; and
- a person insured under a group policy and his beneficiaries or a person covered under a group takaful certificate and his beneficiaries, where the premiums or the contributions are paid by the Federal and/or State Government and the group policy or the group takaful certificate provides for the person insured or the person covered to deal directly with the FSP in the event of a claim.
- A small business refers to small and medium enterprises (SMEs) as defined in the “Guideline for New SME Definition” issued by SME Corporation Malaysia in October 2013.