Wing inks agree­ment on Malaysia re­mit­tances

The Phnom Penh Post - - BUSINESS - Hor Kim­say

WING Spe­cial­ized Bank, the lo­cal mo­bile bank­ing provider, re­cently launched in­ter­na­tional re­mit­tance ser­vices from Malaysia, af­ter ink­ing a part­ner­ship deal with that coun­try’s fi­nan­cial tech­nol­ogy firm, Va­lyou.

The deal aims to tar­get Cam­bo­dian na­tion­als liv­ing and work­ing in the Asean na­tion.

Ac­cord­ing toW­ing’s an­nounce­ment, more than 150,000 Cam­bo­di­ans are em­ployed in Malaysia in var­i­ous in­dus­tries such as agri­cul­ture, con­struc­tion, man­u­fac­tur­ing, fish­ing and do­mes­tic ser­vice.

“It is our mis­sion to pro­vide a fast, se­cure and con­ve­nient way for thou­sands of Cam­bo­di­ans over­seas to send money to their loved ones in their coun­try,” said Wing Chief Ex­ec­u­tive Of­fi­cer Jojo Malo­los.

Through the part­ner­ship, re­mit­tance cus­tomers can now send money di­rectly home us­ing the Va­lyou Mo­bile Wal­let app or from over 2,500 Va­lyou lo­ca­tions across Malaysia.

Af­ter the trans­fer, the money can be cashed out to the re­ceiver’s Wing ac­count and be picked up at one of the over 5,000 lo­ca­tions in the King­dom.

Wing earned a net profit of $1.7 mil­lion in 2017 with their to­tal as­sets sit­ting at $27.4 mil­lion, ac­cord­ing to the an­nual su­per­vi­sory re­port of the Na­tional Bank of Cam­bo­dia.

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