Touch n Go Group and Principal Asset Management jointly announced today that the Principal Electronic Cash Fund, the underlying fund of Touch n Go GO+ products, is now compliant with Sharia law. This makes GO+ Fund the first e-wallet product in Malaysia that conforms to Islamic teachings.
Except for the fact that it now complies with Sharia law, GO+ is still almost The same product was launched in March. Through this fund, TnG e-wallet customers can obtain low-risk money market investments at a price as low as RM10, and earn the same potential return every day, while being able to use the funds for all e-wallet transactions.
“When we first launched GO+, our users called for the basic fund to comply with Sharia law. We listened to them and started working immediately. Touch n Go Group CEO Effendy Shahul Hamid said: “We now have more inclusiveness than ever before. Sexual products are fully in line with our goal of providing basic financial services to everyone. “
GO+ is the first step for TnG to enter the field of digital financial services. It is based on the Principal e-Cash Fund, which is a money market fund managed by Principal. This cooperation essentially combines the expertise of Touch n Go e-wallet in technology and ecosystem and the expertise of Principal in investment strategy and fund management.
“We are focused on providing more inclusive investment solutions so that everyone can obtain financial security. As a financial partner, we identify trends and meet the needs of customers for solutions that are in line with the Islamic teachings, enabling our Islamic business and capabilities to continue Grow,” said Munirah Khairuddin, CEO of Principal Asset Management.
“We are currently the leading Islamic asset management company in Malaysia, among the top five Islamic asset management companies in the world, and are at the forefront of developing new products and solutions that comply with Sharia law in the global market. As of June, We manage a total of RM 96.7 billion in funds in Southeast Asia, of which RM 30.69 billion is Islamic funds,” she added.
To date, GO+ has more than 1.2 million users. This financial product is suitable for Touch n Go e-wallet users who are Malaysian citizens over 18 years of age.More about How it works here.