Malaysia launches credit programme to promote consumer spending

Kuala Lumpur (VNA) - The Ministry of Finance (MoF) of Malaysia has launched a credit programme worth 750 million RM (179 million USD), aiming at boosting consumer spending in the country as one of initiatives under the Economic Recovery Plan (PENJANA).

According to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz, under the ePENJANA programme, each eligible applicant will receive 50-RM ePENJANA credits beginning on July 31.

Three e-Wallet service providers, namely, Boost, GrabPay and Touch ‘n Go eWallet have been selected for the implementation of this initiative, he said, adding that this programme will be launched in collaboration with the MySejahtera COVID-19 contact tracing app.

To apply for the credits, he said every applicant is required to download one of the three e-Wallets, as well as download and use the MySejahtera app.

The initiative is open to Malaysians aged 18 years and above, earning less than 100,000 RM annually.

The eligible applicant will also receive additional matching incentives worth 50 RM in the form of cash back, vouchers and/or points throughout the campaign period, he noted.

The programme will last until August 24, and the deadline for spending the ePENJANA credits is on Sept 30. /.