Malaysia rolls out voucher scheme to boost financial inclusion amongst gig workers

It gives recipients $7.10 (RM30) to buy insurance or takaful products.

Malaysia has introduced the third phase of the Perlindungan Tenang Voucher (PTV) scheme on 1 September, giving Sumbangan Tunai Rahmah (STR) recipients $7.10 (RM30) to buy insurance or takaful products, according to the General Insurance Association of Malaysia (PIAM).

Recipients must add at least $4.70 (RM20) of their own funds.

Backed by the government and the insurance and takaful industry, PTV 3.0 aims to improve financial inclusion and protection for low-income households, especially gig workers, small traders, and caregivers.

Industry associations said the programme will help expand access to affordable coverage whilst encouraging long-term financial planning.