TNG Digital, the operator of TNG eWallet, has partnered with United Nations High Commissioner for Refugees (UNHCR) to enhance financial inclusion for refugees and asylum-seekers in Malaysia.
The collaboration, announced on World Refugee Day, aims to address the financial challenges faced by these underserved communities.
Currently, there are about 189,340 refugees and asylum-seekers registered with UNHCR in Malaysia, primarily from Myanmar, along with individuals from Pakistan, Yemen, Afghanistan, and other conflict-affected countries.
Access to essential financial services remains a significant barrier for these groups.
The partnership seeks to improve access to digital financial services and enhance financial literacy among refugees.
This initiative aims to stabilise the financial situations of refugee communities, enabling them to contribute to Malaysia’s economy.
Alan Ni, Chief Executive Officer of TNG Digital, said,
“We are dedicated to advancing financial inclusion for all, especially the underbanked and underserved. By joining forces and harnessing the unique strengths and resources of both TNG Digital and UNHCR, we aim to empower refugee communities with the financial tools they need to build stable, self-sufficient lives.
This initiative not only supports refugees but also contributes to Malaysia’s economic growth by fostering a more inclusive and resilient financial ecosystem.”
UNHCR Representative in Malaysia, Thomas Albrecht added,
“Refugees face many constraints when it comes to accessing financial services. Without such access, they cannot fully participate in a country’s economy or build a stable life for themselves and their families, and are vulnerable to exploitation.
Encouraging self-reliance through economic and financial inclusion is a key component of achieving protection and long-term solutions for refugees. UNHCR is deeply appreciative of this partnership with TNG Digital in strengthening our work to meet these aims.”
The collaboration aligns with the Malaysian government and global efforts to achieve financial inclusion and promote economic empowerment among vulnerable populations.
Alan Ni will be a panelist at the upcoming event “Revolutionizing ePayments: Fintechs as Catalysts for Financial Inclusion,” hosted by Fintech News Malaysia on 26 June 2024. Register here.
Featured image: [From left to right] Thomas Albrecht, Representative of UNHCR, the UN Refugee Agency and Alan Ni, Chief Executive Officer of TNG Digital.
