Scope (with effect from 1 October 2016)

We are set up as an alternative complaint/dispute resolution body to assist financial consumers to resolve their complaints/disputes with the Financial Service Providers (FSPs) who are our Members. We accept all complaints/disputes that are within our jurisdiction subject to our Terms of Reference (TOR).

Our Mandate

  1. To provide financial consumers an avenue for effective and prompt resolution of complaints/disputes arising from products and services provided by our Members on "free of charge" basis
  2. To resolve complaints/disputes in an independent, impartial and fair manner
  3. To collaborate with our Members in resolving complaints/disputes 
  4. To create awareness on matters of common interest to financial consumers and the financial industry

Our Jurisdiction

No Type of complaint/dispute Monetary Limit
1 A complaint/dispute involving financial services or products or Islamic financial services or product, developed, offered or marketed by a Member, or by a Member for or on behalf of another person, other than a complaint/dispute under paragraphs 2 and 3 RM 250,000.00
2 A complaint/dispute on motor third party property damage insurance/takaful claims. RM 10,000.00

A complaint/dispute on:

(a) an unauthorized transaction through the use of a designated payment instruments or a Islamic designated payment instruments or payment channel such as Internet banking, mobile banking, telephone banking or automated teller machine (ATM); or

(b) an unauthorized use of a cheque as defined in section 73 of the Bills of Exchange Act 1949 (Act 204).


RM 25,000.00


RM 25,000.00

Complaints/Disputes that fall outside our jurisdiction

OFS will not consider the following complaints/disputes against a Member:-

  1. A complaint/dispute that is beyond the maximum monetary limit specified in Schedule 2 of the Terms of Reference of the OFS, save where mutually agreed in writing by the OFS, the eligible Complainant and the Member in accordance with sub paragraph 12(3) of the Terms of Reference of the OFS;
  2. A complaint/dispute on general pricing, product features, credit or underwriting decisions, or applications to restructure or reschedule a loan or financing which are commercial decisions within the discretion of a Member;
  3. A complaint/dispute concerning the actuarial standards, tables and principles which a Member applies to its long term insurance/takaful business (including the method of calculation of surrender values,paid up policy values and paid up policy values and the bonus rate applicable to the policy in question) for insurance or takaful claims, except guaranteed payment which are explicitly mentioned in the terms and conditions of the policy;
  4. A complaint/dispute relating to a contract of employment between a Member and its officers and employees or agency matters concerning a Member;
  5. A complaint/dispute that has been filed in a court or arbitration or referred to arbitration or has been decided by a court or arbitrator;
  6. A complaint/dispute that is referred to OFS after more than six months from the date the Member has provided its final decision;
  7. A complaint/dispute that is time barred under the Limitation Act 1953 or Limitation Ordinance (Sabah) (Cap.72), or Limitation Ordinance (Sarawak) (Cap.49);
  8. A complaint/dispute that had been previously decided by the OFS (including a complaint/dispute decided under the Predecessor Scheme) unless new evidence, which are material facts that could change the earlier decision, is available for the OFS' consideration;
  9. A complaint/dispute on investment performance of a financial product except in relation to non-disclosure of facts or misrepresentation;
  10. A complaint/dispute on capital market services and  products offered or marketed by a Member;
  11. A complaint/dispute that involves more than one Eligible Complainant and has been referred to the OFS without the consent of the other Eligible Complainant, and the OFS is of the view that it would be inappropriate to deal with the complaint/dispute without that consent;
  12. A complaint/dispute involving claims arising from a third party bodily injury or death; and
  13. A complaint/dispute relating to the payment of the policy moneys under life policy and personal accident policy or payment of takaful benefits under family takaful certificate and personal accident takaful certificate made in accordance with the provisions set out in Schedule 10 of the Financial Services Act 2013 and the Islamic Financial Services Act 2013 respectively.