Cambodia Investment Review
The Securities and Exchange Regulator of Cambodia (SERC) and Wing Bank (Cambodia) Plc have announced a partnership to streamline the process of applying for and renewing investor IDs by offering the streamlined e-payment options through Wing Bank.
The MOU agreement signing, presided over by H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of SERC, and Wing Bank’s CEO, Han Peng Kwang, marks a transformative step in streamlining Cambodia’s burgeoning securities market.
Making Cambodia’s Securities Market More Efficient and Accessible
“Our collaboration with Wing Bank marks a significant step forward in making Cambodia’s securities market more efficient and accessible,” remarks H.E. Sou Socheat.
“By embracing digital solutions, we are ensuring that investors can navigate the market with greater ease and confidence,” he added.
Read More: $12.7 Million Traded on Cambodian Securities Exchange in Q2 2024
This collaboration enables Wing Bank to serve as the official collector of fees for SERC investor ID applications and renewals. By providing convenient and secure e-payment options, this partnership aims to enhance investor experience and facilitate the growth of Cambodia’s securities market.
As of the second quarter of 2024, SERC provided a total of 51,771 investor ID numbers and opened a total of 53,712 trading accounts. with the Cambodia Securities Exchange. His Excellency hopes that by the end of 2024, the managements and staffs of Wing Bank will open ID number and trading account.
Expressing gratitude to SERC, Han Peng Kwang, stated, “We are grateful and thankful to SERC for entrusting us with this responsibility and commitment.”
“Wing Bank is proud to support SERC in its mission to develop Cambodia’s capital market. By leveraging our expertise in digital payments, we aim to make the investor ID process more accessible and convenient for all.” Han emphasized.
Advance Cambodia’s Economic and Technological Landscape
Wing Bank and SERC share a common vision through their collaborative efforts to advance Cambodia’s economic and technological landscape, underscoring the importance of public-private partnerships in driving forward the digital transformation of the economy in Cambodia.
SERC has always maintained a steadfast commitment to nurturing a financial environment characterized by security, transparency, innovation, and inclusivity. In light of the rapid technological advancements being witnessed, it is vital to embrace these progressions to offer more convenient and efficient services to all investors.
After 16 years of serving Cambodians, Wing Bank’s commitment to innovation is evident in its diverse range of services, benefiting approximately 165,000 merchants, 10 government institutions, 3,000 SMEs, and around 900 businesses.
The bank diligently served more than 14.5 million account users and has solidified its position as a trusted partner for businesses of all sizes with its cutting-edge banking services, including digital payment and payroll solutions.
This partnership is instrumental in shaping a dynamic and flourishing securities market in Cambodia, underpinned by efficiency and accessibility.
