PRINCIPAL e-Cash Fund, the underlying fund for Touch ‘n Go’s GO+, is now Shariah-compliant which makes GO+ fund the country’s first Shariah-compliant e-wallet product, said Touch ‘n Go Group and Principal Asset Management.
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 whilst being able to use the funds for all transaction over its eWallet, they said in a joint statement today.
“When we first launched GO+, there were calls from our users for the underlying fund to be Shariah-compliant. We listened to them, and immediately went to work,” group CEO of Touch ‘n Go Group Effendy Shahul Hamid said.
“We now have a product that is even more inclusive than it was, and perfectly in-line with our goals of bringing basic financial services to everyone.”
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 essentially combines Touch ‘n Go e-wallet’s expertise in technology and ecosystems and Principal’s core expertise in investment strategy and fund management.
“In these times of uncertainty, we are more committed than ever to helping more Malaysians manage financial challenges,” said Principal Asset Management CEO Munirah Khairuddin.
“As a financial companion, identifying the trends and addressing customers’ needs for Shariah-compliant solutions have allowed our Islamic business and capabilities continue to grow from strength to strength.
“We are currently the leading Islamic asset manager in Malaysia, among the top five global Islamic asset manager, and at the forefront of developing new Shariah-compliant products and solutions in the global market.
We manage a total of RM96.7 bil funds in Southeast Asia, out of which, RM30.69 bil is Islamic funds, as of June 2021,” she added. – Aug 18, 2021.
