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Signing of cooperation agreement A partnership between TrueMoney Cambodia and Amret Microfinance Institution

Jan 02, 2020

Phnom Penh, December 20, 2019 Leading Cambodian fintech TrueMoney have officially announced a partnership agreement with Amret Microfinance Institution – one of the Kingdom’s top service provider of loans, deposits and other financial services.

Through this partnership, Amret is now able to offer convenient options for its clients regarding loan repayments through more than 10,000 TrueMoney agents nationwide or via the TrueMoney App.

Mr. Dos Dinn, CEO of Amret Microfinance Institution, says that

“Today's signing of the partnership with TrueMoney is a reflection of the combined strength of the two companies in which the cooperation will benefit both institutions in reducing their operational costs and providing quick response services at the real time of customers’ need.”

“This partnership will make the two institutions even stronger because Amret is able to offer more choices for our customers to repay their loans, making it simpler and removing the need to come to Amret's office. Customers can just make repayment through the nearest TrueMoney agents.”

Khuu Frannda Dara, head of strategic of True Money says

“Under this partnership agreement, I strongly believe and hope that this loan payment service will provide a great benefit to all our customers and will provide an easier way for them to make repayments, saving time and cost with highly secure method. Customers do not have to spend time traveling far from their area, instead they can now go to their local TrueMoney agent and make a loan payment there. More importantly, customers can choose an even easier way to make loan payments by using the TrueMoney App.”

He adds, “To celebrate this new partnership, customers can repay their loans to Amret Microfinance through TrueMoney agents or the TrueMoney App with a special promotion.”

About TrueMoney

TrueMoney is a modernization company that provides mobile payment services in Southeast Asia and is operating in six countries in the region including Cambodia. TrueMoney allows unbanked customers to access financial services through the TrueMoney App and TrueMoney agents across the country. The company has a clear vision and has quickly become one of the leading players in the Cambodian market, with the largest number of agents, over 2 million clients and nearly 3 million monthly operations. TrueMoney has expanded in Cambodia and has many partners working to provide convenient and up-to-date financial services.

About Amret Microfinance Institution

Established in 1991, Amret was the first private microfinance institution in Cambodia and the first to receive a microfinance license from the National Bank of Cambodia in 2001. Amret went on to obtain a license to get deposits from the public in January 2009. Today, Amret has nearly 30 years of experience in providing financial services to low-income people as well as small and medium-sized enterprises (SMEs) in Cambodia, both in urban and rural areas, in order to improve family life as well as the economy as a whole. Amret – a microfinance institution with the best quality of loan services in Cambodia.

Amret offers a wide range of financial services such as Solidarity Credit, Individual and Small Business Loan, Saving Deposit, Fixed Term Deposit, Mobile Saving, Money Transfer across branches, payment services, ATM machine, CSS service and Mobile Banking. Currently, Amret employs more than 4,000 people, serving a total of more than 500,000 clients through 158 branches offices throughout Cambodia. Amret has deposits totaling over $510 million, spread across approximately 953 million loans as well as $1,100 million in assets.

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