Phnom Penh, Cambodia – On 31 March 2025, Smart Axiata and CIMB Bank PLC formalized a significant strategic partnership with the signing of a Memorandum of Understanding (MOU). This partnership marks a pivotal moment in Cambodia’s business landscape, focusing on enhancing Smart Axiata's quality of service and coverage while preparing the company for 5G rollout and future growth.

The collaboration includes a USD 50 million trade finance facility from CIMB Bank will not only allow Smart Axiata to continue improving service quality but also support preparations for the future 5G rollout and future developments, alongside a robust enterprise connectivity partnership.

The USD 50 million facility from CIMB Bank will help Smart Axiata address working capital needs, playing a crucial role in the continued advancement of the company's network infrastructure and quality of service, along with preparing the company for future technological advancements. The financial backing demonstrates CIMB Bank's strong confidence in Smart Axiata’s financial standing and its strategic vision for the future. Additionally, this partnership includes Smart Axiata becoming CIMB Bank's preferred provider of telecommunications and ICT solutions, ensuring seamless connectivity to support the bank’s operations and digital banking services across its branch network.

This agreement builds on the existing decadal relationship between Smart Axiata and CIMB Bank, both of which share Malaysian ownership. The strengthened collaboration between Cambodia’s telecommunications and banking sectors highlights the growing importance of financial technology and digital innovation in the country’s ongoing digital transformation.

Mr. Ziad Shatara, CEO of Smart Axiata, commented, “Our partnership with CIMB Bank provides us with vital financial flexibility to further invest in our continued efforts on network infrastructure, delivering an even better connectivity experience for our users, as well as ensuring technological and financial readiness for the future rollout of the 5G network. This will position us at the forefront of Cambodia’s digital economy. At the same time, our cutting-edge solutions will enable CIMB Bank to deliver secure, efficient, and innovative digital banking services across the country.”

Mr. Bun Yin, CEO of CIMB Bank PLC, added, “This strategic financing underscores CIMB Bank’s commitment to supporting Cambodia’s digital transformation. By empowering Smart Axiata with the necessary financial resources for its 5G rollout, we are not only strengthening our long-standing partnership but also contributing to the nation’s technological advancement. This collaboration would provide a positive impact in driving innovation and financial inclusion together.”

As Cambodia’s digital economy continues to grow, the partnership between telecom companies and financial institutions becomes increasingly essential. This collaboration is poised to drive forward innovation at the intersection of financial services and telecommunications, further fueling Cambodia’s digital future. The USD 50 million trade finance facility is one of the most significant corporate financing agreements in Cambodia’s telecom sector this year, marking an important milestone for both companies.

With the ongoing digital transformation in Cambodia, this partnership underscores the critical role that telecom and financial institutions will play in shaping the future of the country’s digital economy. The integration of Smart Axiata’s connectivity infrastructure improvement and 5G readiness with CIMB Bank's financial services is expected to have far-reaching implications, driving sustainable growth and innovation across Cambodia.