TNG Digital CEO Alan Ni said the company has eased the registration process for refugees, who can now create an account using their UNHCR cards.

At the launch of the initiative here today, Ni said this would enable refugees in Malaysia registered with the UNHCR to carry out transactions using the Touch ‘n Go e-wallet app on their mobile devices.

He said financial technology was essential to drive inclusion and ensure refugees were not left behind as Malaysia transitions towards becoming a cashless society.

“Malaysia is expected to be a cashless society by 2030, if refugees are not included in this transition, they will be socially and financially crippled,” he said.

Refugees face major hurdles to set up a bank account in Malaysia, being required to possess supplementary documentation such as tenancy agreements or proof of employment, which they usually do not have.

UNHCR representative Louise Aubin said financial inclusion was necessary so that refugees could contribute to Malaysia’s economic growth and development.

“When refugees are empowered, all of society benefits. Providing refugees with financial support through technology does not just help them survive but also allows them to thrive and this will benefit the community,” she said.

Aubin said this initiative also demonstrated how the private sector, public sector and civil society can unite to alleviate refugees’ burdens, adding that financial inclusion was the first step toward improving their livelihoods.

Refugee activist and Fugee School co-founder Deborah Henry said financial inclusion was a crucial building block for social inclusion, especially in today’s digital-driven society.

Last August, TNG Digital announced that the labour department had approved its platform as an alternative salary payment instrument for blue-collar migrant workers facing barriers to traditional banking services.