IslamicFinance.de

The government is making it easier for the public to save for their higher education through its National Education Savings Scheme SSPN-i Plus. The SSPN-i Plus, which was introduced by the National Higher Education Fund Corporation (PTPTN) in June, doubles as an education fund besides providing affordable Takaful (Islamic insurance) coverage to the depositor. The product, a result of the strategic collaboration between PTPTN and Hong Leong MSIG Takaful (HLM Takaful), aims to instil in Malaysians the savings culture. The government has also provided a variety of exemptions for taxpayers to reduce their tax burden, with 21 tax exemptions given to taxpayers for the 2015 assessment year.