Avoid falling victim to scammers offering e-MADANI credit cash-out services, warns MOF

THE Finance Ministry (MOF) has advised members of the public to be cautious of offers by irresponsible parties that provide cash-out or peer-to-peer transfers of e-MADANI credit.

This is to prevent e-MADANI beneficiaries from falling prey to scammers and consequently lose their e-MADANI credit.

“The MOF will not be responsible for any loss of e-MADANI credit arising from peer-to-peer transfers or cash-out transactions,” MOF pointed out in a media statement. “Should there be any reports of cases involving peer-to-peer transfers and cash-outs, the government will take stern action against the offenders by blocking their accounts and forfeiting the e-credit.”

According to MOF, the e-MADANI programme has the objectives of stimulating the economy and fostering a cashless culture. Therefore, the e-MADANI credit cannot be used for certain transactions which include peer-to-peer transfers and cash-outs.

“It may be used only for physical purchases via the participating e-wallets, namely MAE, Setel, ShopeePay and Touch ‘n Go e-wallet or via the DuitNow QR code at 1.8 million retailers and businesses nationwide,” noted MOF.

Registration for the e-MADANI programme opens today (Dec 4) until Feb 20 next year and will benefit 10 million eligible adult Malaysians in the B40 and M40 categories.

A government initiative announced under the “Ekonomi MADANI: Memperkasa Rakyat” framework, e-MADANI aims to encourage cashless transactions among Malaysians while easing their financial burden at the same time.

This programme is expected to benefit over 10 million Malaysians in the form of a RM100 e-wallet credit that can be used for purchases at brick-and-mortar businesses through the participating e-wallet service providers.

In addition, participating e-wallet service providers will also offer additional incentives through vouchers, cashback, discounts and reward points. More information on the e-MADANI programme can be obtained by visiting https://manfaat.mof.gov.my/individu/eMADANI. – Dec 4, 2023

Main pic credit: Info Terkini Bantuan

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