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Year 2000

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Our Commitment

As early as in 1997, Sabah Bank Berhad had spent much energy and attention towards the Y2K or Millennium Bug. This is to ensure that the Bank is able to provide an uninterrupted quality service at all times to our valued customers. Besides, our Y2K Management Team has also strategise various programmes to promote awareness and getting the staff ready to face the unfamiliar challenges that lie ahead during the turn of the century.

Strategies taken by our Bank
Include:

Programmes implemented :

 


The Year 2000, Your Bank and You

The Government and the banking industry are working to keep the Year 2000 or also known as the Y2K computer bug, from affecting the banking business and its customers. Bank Negara Malaysia and the financial institutions are committed to ensuring that the necessary steps are taken to prepare for the Year 2000 date change.

Why is the Year 2000 bug happening?

Experts trace the problem to the shorthand method used in the early days of the computer era, where due to costs saving and storage problems, abbreviations and codes were used to represent longer words. The years were denoted in two digits instead of four digits. Computers were then programmed to assume that "55" meant 1955. This two-digit arrangement for calendar years has worked fine, that is until now. Come January 1, 2000, if that date is simply recorded in a computer as 01-01-00, the "00" could be assumed by the computer to mean 1900, not 2000. This may cause systems to halt, malfunction or produce erroneous data.

How will the Year 2000 problems affect the banking industry?

Any person or organisation that uses computerised systems or equipment can be affected by the Year 2000 or Y2K problem. The financial institutions are especially concerned about this problem. This is because many of the transactions handled by these institutions involve date-sensitive information, such as dates when deposits or payments are made, which in turn affects account balances and interest calculations. That is why the banking industry is taking aggressive steps to ensure its computer systems will process transactions properly in the year 2000.

How could a Year 2000 problem affect my banking routine?

Your daily banking routine generally should not be affected. To ensure that the financial institutions are prepared to deal with problems quickly and effectively, BNM has instructed all financial institutions to establish contingency plans that will provide for alternative methods of doing business, if required.

Will my deposits be safe?

Definitely YES! The Year 2000 problem will not affect your deposits or any other accounts in the bank. There is no safer place to keep your money than in a deposit account of a bank, fully backed by Bank Negara Malaysia.

What can I do to get ready for the Year 2000 date change?

It is always a good practice to keep records of your accounts -- copies of deposit slips, ATM receipts, bank statements and other records of your transactions. If you don’t already do so, you may want to start keeping records of financial transactions made a few months before and after January 1, 2000. These records will help you to resolve any account errors that may occur due to the Year 2000 date change.

What has your Bank done to overcome this potential Year 2000 problems?

We have been working on our Year 2000 solution since 1997. We have assessed and conducted a series of intensive system tests on our Bank’s systems and equipment to identify all potential problems that could be caused by the Year 2000 date change. We completed the Year 2000 readiness series of tests in November 1998. BNM has also examined our system test plans and contingency plans.

We are committed to providing quality banking services to our customers at all times. We want our customers to receive continued service into the new millennium.

Who can I talk to if I want to know more?

You can call our Inquiry Centre at this telephone number - 088-218911 and ask for Systems and Services Department. We will try to answer your queries and concerns about the Y2K computer bug. You can also call at any of our branches.

 


Y2K Individual and Community Preparedness

One of the many concerns about the potential Year 2000 problems is the utility issue -- electricity, water and telecommunication too. The possibility of being without power or running water for an extended period is not a pleasant thought for anyone. Our Government has assured us that all our utilities will not be disrupted by the Y2K bug, but then it is always good to be prepared for any eventuality. We should not be too quick to press the panic button but instead be prepared.

Food and drinking water are obviously another great concern during any disruption or disaster. It is always practical for every household to at least have some supply of food and water stored at any time. This does not mean we should start hoarding food supplies. Just store additional food supplies. If the turn of the new millennium is a non-event, we are prepared for the next flood situation or any other disruption. Other items that we should have in our household are: flashlights, extra batteries, battery operated radios, first aid kit, essential prescription medication.

As an individual, we may be in a dilemma since no one really knows how bad the situation will be and how much preparation is required. Faced with such an uncertain situation, some level of preparation is advisable. Ultimately, it is a personal decision based on available information. As we read and hear more about the probability of system failures due to the Y2K bug, we will know more about how much we should prepare.

As part of a community, we should also consider how we can assist others, especially the elderly and disabled, to be prepared too. If you have a neighbourhood watch or rukun tetangga, it would be advisable to discuss some of the issues to prepare for any disruption at the turn of the millennium.

By browsing through the Internet one may obtain a multitude of information. This information may be useful as a guide on how much preparation and what type of preparation we, as an individual and a community as a whole, should make.

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