Touch ‘n Go Group and Principal Asset Management (Principal) jointly announced that Principal e-Cash Fund, the underlying fund for Touch ‘n Go’s GO+, is now Shariah-compliant. 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 a daily basis whilst being able to use the funds for all transactions over its system.
Launched in March 2021, GO+ 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 the Principal’s core expertise in investment strategy and fund management.
“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. 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,” said Effendy Shahul Hamid, Group Chief Executive Officer, Touch ‘n Go Group.
For more information and updates about GO+, visit www.tngdigital.com.my