What's NewFTB Cambodia Licensed to Work with Amret to Introduce International Remittance
Phnom Penh, 15 June 2018 – Foreign Trade Bank of Cambodia has obtained an approval from the National Bank of Cambodia (numbered ធ៧.០១៨ . ២៩៣ ឆត) to partner with Amret Microfinance on International Remittance service to Amret’s customers. The service will enable consumers to send and receive money around the world to/from their family, relatives, or partners.
This international Remittance Partnership will benefit for the community who are regularly receive money by providing easy, simple, flexible, faster, lower price and safe options. It will also ease recipients/senders to access the service through Amret’s branch offices nationwide within the support from Amret’s professsional staff.
The General Manager and Board Member of FTB, HE. GUI Anvanith, said: “We are excited about the opportunity to work with Amret offering outstanding financial services as one of the top MDIs in terms of assets, networks, and customer number. Through Amret’s largest branch networks, its customers will enjoy accessing money transfer in and out efficiently.”
Mr. Chea Phalarin, Amret’s Chief Executive Officer, remarked: “We are grateful to the National Bank of Cambodia for the approval. Now we can further enhance financial services to the public. It will add value to our remittance market by extending the international remittance reach of our customers across the country. Our client’s children working oversea particularly in Korea can now send the money home to their parents in the rural areas faster and cheaper. We believe this financial inclusiveness will improve our people’s live and sustain their lifeline”.
FTB is Cambodia's first and foremost bank. It is a private commercial bank and has been providing customers with safe and reliable banking services for almost 40 years. The Bank was created following Sub-decree No. 1213 dated 10 October 1979 under the former regime of the State of Cambodia. In 2000, the Bank was separated from the direct management of the National Bank of Cambodia ("the Central Bank") to Ministry of Economy and Finance (MEF). It was privatized in 2015 with 90% share of private entities and remaining 10% belonging to the MEF.
About Amret Amret Co. is a leading microfinance institution in Cambodia serving micro, small and medium enterprises and low-to-middle‐income populations with a focus on rural areas, agriculture and district and provincial cities. Amret offers a wide range of loan and deposit services including solidarity credits, individual credits, SME loans, savings accounts, term deposits, mobile saving collection, inter-branch transfer, bill payment, fast service, Cambodia Share Switch. Amret currently has over 3,981 staff and serves over 400,296 clients from 156 branches across Cambodia, with more than US$350 million in outstanding deposits and more than US$699 million in outstanding loans and total assets of US$815 million.
|Media Contacts FTB Cambodia|
|Ms. MAM Zana||Amret|
|Ms. MAM Zana||Mr. Ly Cheapiseth|
|Senior Product Development Officer||Deputy Head of Marketing|
|016 306 663||012 862 821|