The Ministry of Finance recently announced an E-wallet credit of up to RM300 million for up to 2 million Malaysian youths.
The e-wallet credit distribution will be held under the eBelia programme from June 1 to July 31, 2021.
In a statement, MOF said eligible recipients are encouraged to update their e-wallet accounts or download the e-wallet apps before June 1.
Eligible applicants are allowed to claim RM150 credit from any one of these four participating e-wallet service providers – BigPay, Boost, ShopeePay and Touch ‘n Go e-wallet.
Data of eligible youths would be cross-checked with registered local institutions and relevant government databases to confirm their eligibility.
RM200 million is initially allocated to provide each eligible youth an e-wallet credit of RM100. The government later enhanced this initiative with an additional RM100 million allocation under the PEMERKASA programme announced earlier in March, bringing the total to RM300 million under the eBelia programme.
MOF stated that with the additional allocation, eligible recipients can claim RM150 in e-wallet credit, instead of the original RM100.
The eBelia programme is an initiative under the 2021 budget with the aim to promote a cashless society.
It is also expected to provide financial relief to youths between 18 to 20 years old, as well as Malaysians studying at local higher-learning institutions.
This programme involves the collaboration of various ministries including finance, higher education, youth and sports, education, agriculture and food industry, rural development, human resources, and the Department of Islamic Development Malaysia (JAKIM).
Applications for the eBelia credit will be made available for submission between June 1 and July 22, but the credited amount must be used by July 31.