ACLEDA Bank Plc. Signs MoU With Cambodian Amanah Takaful Association for “RIBA Clearance” Program

ACLEDA Bank Plc. ("ACLEDA Bank"), the first publicly listed commercial bank in Cambodia, signed a Memorandum of Understanding (MoU) with the Cambodian Amanah Takaful Association (CATA) for the implementation of the "RIBA Clearance" Program on April 7, 2025, at the bank’s headquarters.

The MoU signing ceremony was presided over by H.E. Oknha Datuk Dr. Othsman Hassan, Senior Minister in Charge of Special Missions and Chairman of the Board of Directors of CATA, and Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc., along with the management of both CATA and ACLEDA Bank.

Dr. In Channy, President & Group Managing Director of ACLEDA Bank, stated that ACLEDA Bank is pleased to sign the MoU with CATA for the implementation of the 'RIBA Clearance' Program. This MoU outlines the commitment of both parties to provide financial services that align with Islamic principles and enable the management of funds for all CATA members without the burden of RIBA.

He added, “This partnership also provides a transparent and secured financial solutions, as the Bank will offer Sharia-compliant banking services that allow Cambodian Muslims to deposit savings with interest-free, Or automatically transferred into the CATA account, a special account in ACLEDA Bank Plc. for the “RIBA Clearance” program, which will be used for community projects and charitable activities in accordance with Islamic laws."

About ACLEDA Bank Plc.

ACLEDA Bank has 4 subsidiaries including ACLEDA University of Business Co., Ltd.; ACLEDA Securities Plc.; ACLEDA Bank Lao Ltd.; and ACLEDA MFI Myanmar Co., Ltd. and a representative office in the Republic of the Union of Myanmar. As of the end of December 2024, ACLEDA BANK had USD 10.83 billion in total assets and USD 8.36 billion in total savings deposits with over 5.52 million customers. ACLEDA BANK had more than 0.55 million business partners and 4.54 million subscribers for ACLEDA Super App.

This article was adapted from a supplied press release. 

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