Positioning ourselves as a housing solution partner, First Finance has been delivering to our client beyond financial services. With more than 9 years’ experience as micro mortgage specialists, we still find that Cambodian people are faced with a lot of problems in buying/selling property. Such problems include buying land or a house that has no recorded history, buying from an illegal property developer (Boreys), land or houses with duplicate titles, accepting soft title even though the original title is hard or transferring ownership at the village/commune level to avoid tax duty, etc. These issues are risky for purchasers and could result in losing the right to owning their properties. Limited knowledge on property buying/selling, managing or transferring legal ownership; creates such problems.
First Finance saw the need to address this and with support from Microfinance Initiative for Asia (MIFA), cooperated with partners and experts from related ministries to create an educational campaign for the public on reducing the risk of buying and selling property in 2018. This cooperation culminated in holding a public workshop, providing staff training, setting up a call-center and developing an animated infographic video.