PETALING JAYA: The finance ministry has warned the public against potential scams involving third-party services offering cash-out or peer-to-peer transfers for the RM100 eMadani credit.
The ministry said the credit is intended exclusively for physical purchases via participating e-wallets or DuitNow QR code at authorised retailers and businesses.
“The ministry will not be responsible for any loss of eMadani credit arising from peer-to-peer transfers or cash-out transactions,” it said in a 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.”
Starting today, the RM100 e-wallet credit can be redeemed by all Malaysians aged 21 and above earning an annual income of less than RM100,000.
The initiative, announced by Prime Minister Anwar Ibrahim when launching the Madani economic policy, is expected to benefit approximately 10 million individuals with a total cost of RM1 billion.
Those eligible have until Feb 20 next year to redeem the benefit through four e-wallet providers: MAE, Setel, ShopeePay and Touch N’ Go eWallet.