LOLC (Cambodia) Plc.: The First MDI to be Granted a Leasing License in Cambodia

Date: 
24 Jan 2017
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LOLC (Cambodia) Plc., the fourth largest and rapidly growing microfinance deposit taking institution (MDI) in Cambodia, proudly announced that the National Bank of Cambodia (NBC) granted the company a permission to offer leasing products on 9 January 2017. LOLC has become the first MDI in Cambodia to obtain such leasing product permission, which allows the company to penetrate a market previously exclusive to leasing companies.

Leasing is a nascent product and LOLC (Cambodia) Plc. sees its tremendous growth potential as well as positive impact on Cambodia’s economic and social development. As an alternative to traditional loan products, leasing products do not require clients to use personal property as collateral or to fund the acquisition of assets with cash up front. LOLC leasing unlocks new capacity of households and businesses to obtain funding for acquisition of vehicles and equipment that enable business operation expansion or living standard improvement.

Country: 
Cambodia