BAU: The Serikin Market here is set to become the country’s first border market to utilise e-Duit for business transactions.
Deputy Minister of Transport (Maritime and Riverine) Datuk Henry Jinep said that by using this application, it will simplify business transactions for traders and customers visiting the market.
He said, according to data published by Bank Negara Malaysia (BNM), e-Duit transactions have shown a significant increase of 31.5 per cent, amounting to a total of RM9.5 billion in 2022 compared to RM7.2 billion in 2021.
“On average, every Malaysian made 291 e-Duit transactions in 2022.
Therefore, today’s e-Duit campaign initiative marks the beginning of the participation of traders and users at the Serikin Market in e-Duit and the rapidly expanding digital economy in our country,” he said during the launch of e-Duit at the Great Baruk Hall, Kampung Serikin, here today.
Also present were the Chief Officer of BNM Kuching, Irman Din, and the District Officer of Bau, Constantine Gerald David Jonas.
In this regard, Henry, who is also the Tasik Biru State assemblyman, urged local nad Indonesia traders at the market to take the opportunity to introduce e-Duit options in their businesses.
This is because, according to Malaysian law, travellers are only allowed to bring in or take out an aggregate value exceeding USD10,000 or equivalent to RM46,945 when arriving or leaving the country.
Moreover, he said they would also not need to worry about the risk of losing and theft of cash.
“This is because the proceeds of trade can now be accepted in digital form and can be converted into Rupiah currency at any time through digital applications provided by licensed financial service providers, such as Merchantrade,” he added.
