MARUHAN Japan Bank and Amret “Creating opportunities for development”
11 October 2011
Phnom Penh, Cambodia
MARUHAN Japan Bank and Amret microfinance institution are delighted to announce new business alliance that will benefit not only both companies, but the whole of Cambodia.
MARUHAN Japan Bank was formed with the aim of supporting the strong bi-lateral ties between Japan and Cambodia that are encouraging investment and contributing to the continuing growth and development of Cambodia.
Amret, a leading microfinance with over 20 years’ of experience in Cambodia, was formed with the same aim. A market leader and innovator, Amret was one of the first MFIs to be granted a license by the National Bank of Cambodia to operate as a microfinance deposit taking institution and is already providing a wide range of financial services to low income families and micro, small and medium enterprises, nationwide.
MARUHAN Japan Bank General Manager, Mr. ONISHI, Shizuo says, “Our partnerships with Amret and other leading MFIs are based on shared core-competencies, ideals and operating principles. The nationwide infrastructure and resources that our MFI partners have in place are extremely attractive to us as a way of quickly and cost effectively extending our products and services into hard to reach rural communities, a key requirement of our business and banking partners across Cambodia and the wider ASEAN region. In return, we can support our partners with package of financial services, including funding and fund management support, locally.”
Amret CEO, Mr. Chea Phalarin, says “The National Bank of Cambodia, Cambodia’s financial regulator, has recently recommended that microfinance institutions develop diversified sources of funding in order to increase stability. We are therefore delighted to be partnering with MARUHAN Japan Bank with a view to putting those recommendations into practice. We are looking forward to working together to utilise MARUHAN’s fund management experience and local resources, combined with our established reputation and infrastructure, for the development of Cambodia,” he added.