On December 10, 2024, ABA Bank inked a memorandum of understanding (MoU) with the Cambodian Gems and Jewelry Trader Association (CGJTA). The Association represents businesses in the gems and jewelry sector, fostering growth through international trade events and partnerships to attract investment while promoting Cambodian craftsmanship globally.
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Under the signed partnership agreement, ABA Bank will offer a comprehensive range of banking services to meet the needs of CGJTA members. These include transactional banking service for the Association and its members, trade finance options to support import and export activities, competitive business loans to facilitate growth, international money transfers for global transactions and other essential financial products for the needs of gems and jewelry traders. Whether for business or personal use, the ABA Bank’s services are designed to help members improve efficiency and grow their businesses.
The MoU signing ceremony was held at the ABA Bank Head Office with the attendance of ABA Chief Executive Officer, Askhat Azhikhanov, and CGJTA President, Her Excellency Nhet Sreyoun, along with their respective teams.
“We recognise the contribution of the gems and jewelry sector to Cambodia's economy, creating employment and supporting the livelihoods of thousands of families. ABA Bank is ready to support the Association members through tailored banking solutions designed to meet their needs, whether for corporate growth or personal financial management,” stated ABA Chief Executive Officer Askhat Azhikhanov during the meeting.
“We are honored to partner with ABA Bank to provide our members with innovative financial solutions. This initiative also emphasises compliance with Cambodia’s law on secured transactions, ensuring the protection of payments for traders and consumers,” commented H.E. Nhet Sreyoun, CGJTA President.
“This collaboration will empower our members to achieve new heights of success and contribute to the growth of Cambodia's gems and jewelry industry," she concluded.
ABA Bank's partnership with the CGJTA underscores its commitment to supporting the growth and development of Cambodia's gems and jewelry industry. By using ABA Bank’s products and top-notch customer service, the members of the Cambodian Gems and Jewelry Trader Association can focus on expanding their operations and showcasing Cambodian craftsmanship on the global stage.
About ABA Bank
ABA Bank is the largest commercial bank in Cambodia as per the National Bank of Cambodia's Supervision Reports 2021-2023. As of September 30, 2024, the bank's total assets amounted to $13 billion, customer deposits reached $10.4 billion and gross loans climbed to $8.5 billion.
With 99 branches, 46 ABA 24/7 spots, more than 1,700 self-banking machines, and advanced online and mobile banking platforms, ABA Bank reaches 4 million customers with an array of modern financial services.
