Companies like Tenaga Nasional Bhd and Telekom Malaysia will be the first to benefit from the myezycover.com Keluarga Malaysia vehicle insurance financing scheme when it is extended to those outside the civil service, said Human Resources Minister Datuk Seri M. Saravanan.
He said that the proposed extension of myezycover.com to government-linked investment companies (GLIC) and the private sector would involve the implementation of a suitable mechanism for the collection of repayments.
Myezycover.com is based on the Syariah-compliant Qardul Hasan concept which does not involve interest or riba (usury), was launched by the Prime Minister Datuk Ismail Sabri Yaakob to help civil servants pay their car insurance and road tax instalments.
In his speech at the launch, Ismail Sabri said that the scheme would be extended to employees of GLC’s, GLIC’s and the private sector soon.