Wing Bank and FASMEC Signed MOU to Provide Banking Services to FASMEC Members to Improve their Businesses

Through the collaboration, Wing Bank and FASMEC will offer financial solutions to SMEs, improving their businesses, and assisting the SMEs to grow and thrive in the Kingdom.

Wing Bank (Cambodia) Plc, the Bank for every Cambodian, and the Federation for Association for Small and Medium Enterprises of Cambodia (FASMEC), a collective of small and medium size business in Cambodia, have signed a memorandum of understanding (MOU) to offer banking services and financial management solutions to members of FASMEC. The MOU signing was attended by Han Peng Kwang, CEO of Wing Bank, Oknha Te Taing Por, Director of FASMEC, as well as senior executives from both parties.

Han Peng Kwang, CEO of Wing Bank, said, “SMEs are the foundations of Cambodia’s economy, and key to its future growth. SMEs have created thousands of jobs to raise the living standards of Cambodian citizens and are often the drivers of innovative business solutions and technologies. Strong SME ecosystems have the potential to attract potential investors and subject matter experts to work in Cambodia and will therefore enlarge and diversify the Cambodian economy.”

Han Peng Kwang added, “As a leading digital bank, we are proud to offer innovative products and services tailored to SMEs. We also offer competitive and preferential interest rates for loans and deposits for SME customers. We welcome all partnerships which allow us to improve the businesses of SMEs in Cambodia, and our MOU with FASMEC is just the latest example. I have high hopes for this partnership – and am convinced that by working together we will positively impact the SMEs and the overall Cambodian economy.”

Oknha Te Taing Por, Director of FASMEC, said during the event, “FASMEC has done a lot of work in the past to help small and medium enterprises in Cambodia to grow and develop through any activity, workshops, training, solving challenges and promoting the market of small and medium enterprises, both domestically and for export. This MoU aims to facilitate FASMEC member SMEs throughout Cambodia to use Wing Bank services and obtain loans at a reasonable interest rate.”

FASMEC and Wing Bank have been excellent partners. This is the second MOU signed between the two parties. Under the second MOU, all FASMEC members will be granted access to Wing Bank’s financial management solutions; including loans, cash management, access to market, digital payments and collections and many more.