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The deposit insurance system in Malaysia is managed by Perbadanan Insurans Deposit Malaysia (PIDM), which was established under the Akta Perbadanan Insurans Deposit Malaysia 2005.

The deposit insurance system in Malaysia is managed by Perbadanan Insurans Deposit Malaysia (PIDM), which was established under the Akta Perbadanan Insurans Deposit Malaysia 2005. Explain in detail how PIDM benefited the depositors and the financial system. (5 marks)

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