FTB and AMK Signed MOU to Provide International Remittance Service
Phnom Penh: On April 26, 2018, Foreign Trade Bank of Cambodia (FTB) and AMK Microfinance Institution Plc. signed the MOU to provide international remittance service to all AMK customers under the permission of the National Bank of Cambodia. AMK customers and their friends, relatives and business partners can now enjoy international money transfer service through which they can send and receive money in a safer, faster, easier, and an affordable way.
The cooperation between the two institutions is another positive news from the banking sector to meet the needs of AMK customers who use international money transfers at AMK’s 150 offices and over 3,000 agents across the country. FTB is one of the first commercial banks in Cambodia with partner banks globally. The bank is highly trusted by customers, a reputation especially boosted by the bank’s strong commitment to investing in current technology. AMK is a leading microfinance institution in terms of the number of borrowers and its extensive outreach, with agents and offices within rural and urban communities. The partnership of FTB and AMK will provide enhanced convenience and benefits to Cambodians who have businesses and those who work abroad who need to send money to their parents or relatives in the countryside. This service offers convenience, safety, time-saving, and less expense as customers don’t need time to travel far to make withdrawals. They can withdraw money at nearby AMK’s agents or offices. And because FTB has partners with major banks around the world, this international remittance service allows people to receive or transfer money to all countries around the globe.
AMK is a leading Microfinance Institution in terms of outreach and borrower numbers. AMK provides a variety of financial services including Loan, Deposit, Money Transfer, Micro Insurance, Personal Accident Insurance, Payment Service, Payroll Service, Mobile Banking, ATMs and CDMs. FTB is a first commercial bank that focuses on medium and large-scale financial products and services. FTB is mostly located at the major cities and provinces. FTB provides a variety of products and services such as loans, savings, international money transfers, trade finance, internet banking, mobile banking, cash management, and many other banking services.