Cambodia Investment Review
ELT Education, a leading provider of educational services with over 30 years of experience in Cambodia, and Canadia Bank, one of Cambodia’s largest and most trustworthy commercial banks, have announced a significant milestone in their collaboration. The two giant organizations have signed a Memorandum of Understanding (MoU) to deliver exceptional payment convenience and exclusive benefits to their respective communities. This agreement marks a pivotal step in their shared commitment to enhancing both financial and educational experiences in Cambodia.
The MoU was signed by H.E. Chea Neang Eng, President and Director General of ELT Education Co., Ltd, and Mrs. Chheang Sophea, Head of the Consumer Banking Division at Canadia Bank. The ceremony took place on August 14, 2024, at Canadia Bank Head Office and was attended by key figures from both organizations, including top management, teachers, and staff.
H.E. Chea Neang Eng expressed enthusiasm about the partnership, stating, “Today’s agreement is more than just a formalization of our collaboration; it represents a forward-thinking approach to integrating educational and financial services. By joining forces with Canadia Bank, we are committed to providing our staff, students, and customers with unparalleled convenience and exclusive benefits that will enrich their experience with ELT Education.”
Signing of MoU Marks a New Era of Collaboration Between Education and Finance
Mrs. Chheang Sophea echoed this sentiment, highlighting the mutual benefits of the MoU. “I believe that this collaboration will make the relationship between Canadia Bank and ELT become closer, especially we can improve the education sector in Cambodia to another level.
This collaboration is more than just an agreement, it’s a shared commitment to delivering unparalleled payment convenience and exclusive benefits to our staff and customers as well as ELT Education’ students. In addition, Canadia Bank is proud to contribute to this partnership by offering a comprehensive Financial Literacy program.
This initiative aims to equip students of ELT Education with essential financial knowledge, laying a strong foundation for lifelong financial planning and fostering a culture of saving from a young age. We are excited about the opportunities this collaboration will bring and look forward to working together to offer our customers and ELT’s community innovative solutions and added value.”
The collaboration will see the integration of Canadia Bank’s advanced payment solutions into ELT Education’s services, offering streamlined payment processes and unique financial advantages. This initiative aims to simplify transactions for students and staff, while also providing exclusive offers and benefits tailored to the needs of the ELT community.
The MoU underscores both organisations’ commitment to leveraging their strengths to deliver superior services and enrich the experiences of those they serve. As ELT Education and Canadia Bank embark on this strategic partnership, they reaffirm their dedication to innovation and excellence in their respective fields.
For more information about ELT education, please visit www.bischool.edu.kh.
About ELT Education
The institution now known as ELT was originally founded as the American Academy of Language Art (AALA) in 1994 in Phnom Penh, Cambodia. Established by visionary American entrepreneurs, AALA aimed to enhance education and contribute to the country’s development.
In 1997, H.E. Chea Neang Eng, a passionate advocate for education, acquired the institution and rebranded it as the English Language Teaching Institute (ELT Institute).
Today, ELT Institute is part of ELT Education Co., Ltd, which also encompasses Berkeley International School and EESS (ELT Elementary and Secondary School). Our mission is to provide a supportive and challenging academic environment that equips students from Nursery through Grade 12 with the skills needed for success in both national and international curricula. Additionally, we offer General English programs and English for Specific Purposes tailored for business professionals.
Our current portfolio includes four campuses: two Berkeley International School campuses, one ELT Institute campus, and one EESS campus. We are thrilled to announce that, beginning in early 2025, we will be expanding with the addition of our fourth and fifth campuses for Berkeley International School.
About Canadia Bank
Canadia Bank is a leading local and full-service commercial bank in Cambodia since 1991 and holds commanding market shares in loans and deposits. In 2024, Canadia Bank was awarded for the 4th time as “Best Retail Bank” by The Asian Banker and twice recognized as Best Bank for Corporates in Cambodia by Euromoney and “The Best SME Bank” by the Digital Banker.
Additionally, the Bank has recently been recognized with double awards by International Finance Awards as “Best Commercial Bank” for the 6th Time and “Best Trade Finance Bank” for the first time for 2024. Currently, Canadia Bank has 68 branches and about 450 self-service digital devices across Cambodia, such as ATMs, Cash Recycling Machines, Virtual Teller Machines, and Smart Card-Issuing Machines.
