Advancement of digital technology as a result of the 4th Industrial Revolution (IR 4.0) also disrupts Islamic finance sector. The development of IR 4.0 has given a birth to several technology-based services such as e-wallet applications, crowd funding, smart contracts and more. In a situation where the world today faces a pandemic situation that demanding for social distancing; offering virtual services to meet individual needs has become a community need. E-wallet serves as a replacement for the physical wallet to enable a person to save money by simply using a virtual application without having to bring physical cash to make a transaction (Aqilah, 2019).
Government support for the use of e-wallet applications can be seen through several government programs. The e-Tunai Rakyat program offers RM30 to qualified individuals through the ewallet application. In addition, the government through e-Penjana grants RM50 to 10.5 million Malaysians as one of the incentives during the pandemic. The distribution of money is also channeled through the e wallet method.
Changes in daily transactions and muamalat through e-wallet demand for online forum to discuss ewallet from a legal and Shara ‘perspective and the development of similar guidelines to guide the industry participants. The forum involves panel of Shariah, legal, IT and industry experts who can provide a clear view on proposed topic.
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E-Wallet: Legal and Shariah Perspectives