PETALING JAYA (Oct 29): Bank Negara Malaysia (BNM) has launched the e-Duit campaign that highlights the aspect of education to protect the money of e-payment users.
The central bank’s deputy governor Datuk Abdul Rasheed Ghaffour said with the slogan “Selamat, Senang, Segera” (safe, easy and fast), the campaign will run continuously for five years, in line with the Financial Sector Blueprint 2022-2026.
“We aim to accelerate e-payment adoption among businesses and households by 15% per year for the next five years. In line with this aspiration, BNM and the payments industry will ensure readiness and access to various e-payment instruments, such as payment cards, online payment, and a competitive QR code,” he said at the launch and the unveiling of the official iTEKAD programme logo here on Saturday (Oct 29).
Abdul Rasheed said as a result of joint efforts between the Government and the payments industry, the use of e-payment has expanded in both urban and rural areas.
“Based on the Global Findex 2021 report by the World Bank, it is estimated that 79% of adults in Malaysia had used digital or e-payment during the Covid-19 pandemic.
“To further benefit consumers, efforts are being expedited to implement cross-border payment facilities,” he added.
Abdul Rasheed also announced that five new financial institutions have joined the iTEKAD programme, making the total number eight so far.
First launched in 2020, iTEKAD is a “blended social finance programme to support low-income microentrepreneurs”, BNM said in a statement in conjunction with the launch.
The five new members are RHB Islamic Bank Bhd, Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), Bank Simpanan Nasional (BSN), Bank Pertanian Malaysia Bhd (Agrobank) and the Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank).
“The iTEKAD programme has produced a performance that it can be proud of, with 95% of its entrepreneurs having implemented online sales and 48% having successfully generated monthly sales of over RM4,000,” he noted.
