Commentary: is not Grab’s cash advance scheme that loan programme?

Grab’s cash that is new programme raises many concerns – with valid reason, claims Jonathan Chang.

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SINGAPORE: “Sounds like a forward thinking loan item?”

Which was the original reaction of Arne Hartmann, creator and CEO of amalan, a financial obligation administration venture that is social in Indonesia and Malaysia, to Grab’s new money advance scheme Upfront Cash.

The scheme provides chosen employees using the choice to get element of their projected profits right after paying a one-time administrative charge.

The reaction to GrabFinance’s offering that is latest ended up being quick amongst specialists and experts. National Parliamentary Committee of Manpower Deputy Chairman Zainal Sapari additionally indicated reservations.

“I involve some issues … whilst the borrowers might find on their own in financial stress (if) they have been struggling to repay,” he said. Continue reading