KUALA LUMPUR: Touch 'n Go Group and Principal Asset Management Bhd have today jointly announced that Principal e-Cash Fund, the underlying fund for Touch'n Go's GO+, is now shariah-compliant.
This makes GO+ fund Malaysia's first shariah-compliant e-wallet product.
Touch 'n Go e-wallet customers will still gain access to low-risk money market investments for as low as RM10 and earn the same potential return on daily basis while being able to use the funds for all transaction over its e-wallet.
"When we first launched GO+, there were calls from our users for the underlying fund to be shariah-compliant.
"We listened to them, and immediately went to work. We now have a product that is even more inclusive than it was, and perfectly in-line with our goals of bringing basic financial services to everyone," Touch 'n Go Group group chief executive officer Effendy Shahul Hamid said in a statement today.
GO+ was first launched in March 2021 as Touch 'n Go's first step into the area of digital financial services.
Principal chief executive officer Munirah Khairuddin said as a financial companion, identifying the trends and addressing customers' needs for shariah-compliant solutions had allowed the company's Islamic business and capabilities continue to grow from strength to strength.
She said as of June, Principal had managed RM96.7 billion funds in Southeast Asia, out of which RM30.69 billion was Islamic funds.
"In these times of uncertainty, we are more committed than ever to helping more Malaysians manage financial challenges. Now that the Principal e-Cash Fund is shariah-compliant, we welcome customers from all walks of life to start their investing journey with as little as RM10 and with same potential return.
"We are focused on providing more inclusive investment solutions so that financial security is accessible to all," she added.