The majority of Malaysians aged 21 and above and earning less than RM100,000 a year receive the benefit of e-wallet credit of RM100 through a number of selected applications when applications have been open since 4 December yesterday.
According to Deputy Minister of Finance I, Datuk Ahmad Maslan said that the provision of e-Madani credit to 10 million Malaysians is not expected to cause an increase in inflation in Malaysia.
The total amount of RM1 billion allocated for this initiative is very little when compared to the country's Gross Domestic Product (GDP).
He also said that the result of multiplying it to RM3 billion will not have a significant impact on the national economy or GDP which is as much as RM1.8 trillion and Bank Negara also stated that this will not increase the current national inflation rate.
Earlier, the Prime Minister of Malaysia, Datuk Seri Anwar Ibrahim announced that the one-off aid will be distributed to selected recipients from December 4, 2023 to February 20, 2024.
It is an initiative of the Ministry of Finance to promote the digital economy and foster a culture of cashless payments benefiting nearly 10 million eligible adults with an allocation of RM1 billion.
In addition, Ahmad Maslan also had time to respond to complaints regarding many people who are facing problems when redeeming e-wallet credit on the platform provided. He said, too many users accessing on the first day made the process slow.
Ahmad Maslan advises the public not to hurry in registering because there is still plenty of time and platforms available to redeem the e-credit.
