KUALA LUMPUR, Aug 18 — Touch ‘n Go Group and Principal Asset Management (Principal) have jointly announced that the Principal e-Cash Fund, the underlying fund for Touch ‘n Go’s GO+, is now Shariah-compliant.
In a statement, Touch ‘n Go said this makes GO+ fund Malaysia’s first shariah-compliant eWallet product.
Through this Shariah-compliant fund, Touch ‘n Go eWallet 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 eWallet.
GO+ was first launched in March 2021 as Touch ‘n Go’s first step into the area of digital financial services.
The GO+ product is anchored on the Principal e-Cash Fund, a money market fund managed by Principal.
The product co-creation collaboration essentially combines Touch ‘n Go eWallet’s expertise in technology and ecosystems and Principal’s core expertise in investment strategy and fund management.
To date, Touch ‘n Go eWallet’s platform GO+ has surpassed 1.2 million users.
GO+ is available to Touch ‘n Go eWallet users who are Malaysian citizens above 18 years old.
For more information and updates about GO+, visit www.tngdigital.com.my.
Sources: BERNAMA