The Snapshot of the 2nd ASEAN Outstanding Social Welfare and Development Awards Ceremony.
Wing Bank wins International Finance Award for the Third Time
Wing Bank (Cambodia) Plc was recently recognized again as the ‘Most Innovative Consumer Finance Company’ in Cambodia at the International Finance Awards 2022. This is the third time Wing Bank was selected for the prestigious award, which is awarded to companies with a track record of fintech innovation, and who contribute to improving access to finance within their respective jurisdiction.
Wing Bank has become the first financial institution to receive the Outstanding Social Welfare and Development Award for its significant contributions towards the development of Cambodia.
Wing Bank (Cambodia) Plc was recently awarded the ASEAN Outstanding Social Welfare and Development Award at the 11th ASEAN Ministerial Meeting on Social Welfare and Development and Related Meetings last week.
The virtual meeting was honored with the esteem presence of H.E. Dr. Kao Kim Hourn, the Secretary-General of ASEAN, and delegates from ASEAN countries.
Wing Bank was nominated for the award by Cambodia’s Ministry of Social Affairs, Veterans, and Youth Rehabilitation for its remarkable contribution to social welfare and development in Cambodia.
Due to COVID-19, there has been a shift in society and an increased need for social services, especially for vulnerable groups.
Wing Bank has played a crucial role in helping the government distribute emergency funds from the Cash Transfer Program to help people affected by the COVID-19 pandemic. These include suspended workers, families with PoorID 1 and PoorID 2 cards, poor pregnant women, people living in locked down areas, and family members of those who passed away due to COVID-19.
Chhun Vattanak Phakdey, Wing Bank Deputy CEO, said: “We are delighted that ASEAN recognizes our strong position in supporting the Royal Government of Cambodia to implement the Cash Transfer Program, which helped ease the burden of Cambodians adversely affected by the pandemic.”
“We are committed to improving the livelihoods of every Cambodian by providing easy access to digital financial services.”
The Cash Transfer Program was initiated by the Cambodian government in June 2020 to rescue vulnerable groups from the impacts of COVID-19.
This significantly impacted positive human and socioeconomic development, including in food security, education, financial management, health, and more.
Chhun VattanakPhakdey said, “We are more than proud to have learned from the report by the United Nations Development Program, showing that 99% of the beneficiaries of the Cash Transfer Program are satisfied with the mechanism.
This suggests that Wing Bank has successfully supported the Cambodian government in releasing emergency funds to aid vulnerable groups quickly, transparently, and conveniently.”
The ASEAN Outstanding Social Welfare and Development Award was created to acknowledge and recognize the outstanding achievements and contributions of non-governmental organizations, civil society organizations (NGOs/CSOs), and private sector entities to social welfare and development in their respective countries.
Wing Bank was one of two organizations in Cambodia recognized for impactful project contributions to the community, such as with its work on the Cash Transfer Program.
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