KUALA LUMPUR: The government will disburse about RM1 billion to 10 million Malaysians beginning Monday under the eMadani e-credit initiative.
Eligible Malaysians can apply for the one-off cash credit of RM100 via four e-wallet service providers. The initiative is made possible via the Madani Economy Framework, which was announced in July.
Prime Minister Datuk Seri Anwar Ibrahim said the initiative was aimed at easing the people's burden as they prepare for their children's new school term next year and celebrate the year-end festive season.
He said Malaysians aged 21 and above who were recipients of Sumbangan Tunai Rahmah (STR), based on records up to Nov 7, would qualify for the e-credit.
Those from this age group who earn an annual income of RM100,000 and below based on the Inland Revenue Board's (IRB) record as at July 15, 2023, will also qualify for the e-credit.
"The government will execute the eMadani programme, offering a one-time RM100 cash e-credit to 10 million eligible adult citizens.
"Registration and claims for the eMadani e-credit will be open from Monday at 8am until Feb 20 next year, involving four user-preferred e-wallet service applications," said Anwar when tabling the 2024 Budget for second reading in the Dewan Negara.
The four e-wallet providers in the programme are MAE, Setel, ShopeePay and Touch 'n Go.
Anwar said the e-credit and matching benefits provided by the e-wallet providers could utilised for online transactions until Feb 29, 2024.
He added that the e-credit could also be spent at retailers and businesses that accept the DuitNow QR code payment via any of the four participating e-wallet service providers, subject to permitted transactions.
"With the year's closing and school holidays upon us, the government hopes the e-Madani contribution will help ease the people's expenses during this time of the year, while inculcating a cashless payment culture among Malaysians.
"The implementation of the initiative also aligns with the government's commitment to expediting the execution of measures to support the digital economy and providing direct assistance to the people."
On July 27, Anwar announced the launch of the Madani Economy: Empowering the People Framework.
It contains plans and steps to rebuild and position Malaysia among the world's 30 largest economies within 10 years via a new economic framework.
Anwar had described it as a new economic framework to uphold and boost the country's status and position.
He said the main focus of the framework was the restructuring of the economy to make Malaysia an economic leader in Asia, with spillover to boost people's livelihood and welfare.
Among the initiatives announced was the RM100 e-credit, which follows the success of the eBeliaRahmah programme.
The programme has a three-pronged objective of buoying incomes for micro, small and medium enterprises, encouraging cashless transactions and benefiting the people.
The government had also announced special aid "Bantuan Khas Perhargaan" to recognise the contributions of civil servants and pensioners towards the country's economic growth.
Under this aid, civil servants of Grade 56 and below would each receive RM300.
A similar aid of RM200 for government pensioners as well as retirees, including pension recipients, Employees Provident Fund contributors who retired from public service, as well as pensionable and non-pensionable veterans, was also announced.