Phnom Penh, December 4, 2017: First Finance Microfinance Institution and Cambodia Life Insurance PLC, “Camlife” signed a Memorandum of Understanding (MOU) to provide financial safety to all its customers. The advantages that customers of First Finance will benefit from this partnership are to receive a special price from Camlife for the use of life insurance, which will be liable to outstanding loans when a customer is at risk of accidental death or total and permanent disability.
Mrs. Chun Sothany, Chief Executive Officer of First Finance Microfinance Institution, said, “Most of our customers are Cambodians with low and middle income and the loans we provide them for 20 years. Hence, in order for this long-term plan to succeed, we have tried to find the best solution and protection for all customers to ensure that they will maintain their financial security in acquiring a private home that can provide happiness, stability and happiness in their families. This benefit will be provided to the customer from the date of the signing.
First of all, First Finance Microfinance Plc. was granted a license from the National Bank of Cambodia in 2009 and became a specialized Microfinance Institution providing small loans for buying, repairing and building house to the low and medium income households in Cambodia.
“Camlife is the first life insurance company in Cambodia, with a vision to provide Cambodians with a secure financially viable way of living through choosing the right needs to satisfy their valued lives. We strongly hope that this collaboration will provide additional benefits to Cambodian people who are using First Finance’s Home Loan.” said Tondy Suradiredja, CEO of Camlife.