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Tabung COVID-19 by Boost; To aid Malaysian frontliners

Tabung COVID-19 by Boost; To aid Malaysian frontliners
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Axiata Digital s Online Wallet Boost Now Offering New Micro-Insurance and Takaful Plans for Consumers in Malaysia

Axiata Digital’s online wallet Boost has reportedly launched three new micro-insurance and takaful plans under the name “Boost Protect” in order to provide consumers in Malaysia with affordable and premium coverage. The addition of MozzieProtect, FamilyProtect, and Critical Illness Care brings the total coverage plans being offered by the company to 13. These product offerings have been underwritten by three Great Eastern entities: Great Eastern Life Assurance (Malaysia), Great Eastern General Insurance (Malaysia), and Great Eastern Takaful. Great Eastern has previously invested $70 million in capital into Axiata Digital (in June 2020). It was notably the largest Fintech investment at that time.

Editor s take: The week that was — June 21-26

Boost offers low cost financing for MSMEs this Ramadan

KUALA LUMPUR: Boost, a homegrown e-wallet is offering low-cost financing support for micro-enterprises and SMEs (MSMEs) to use as working capital for Ramadan sales through ‘Aspirasi Capital for boost’. Boost, in a statement said the financing support came at an opportune time with merchants gearing up for Ramadan which requires investments such as bazaar space rental and raw material or ingredient costs. MSMEs can also use it to digitalise their businesses with contactless payment methods or boost social media marketing to meet the digital shift in consumer demands. Through ‘Aspirasi Capital for boost’, MSMEs can benefit from low cost micro-financing up to RM20,000 per MSME for an 18-month tenure, interest-free with no repayment for the first six months.

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