(From right) Mr Lim Wai Hoong, MrsKingphongeun Phoummasack, Mr Sonxay Sitphaxay, Mr Soulisack Thamnouvong
and Mr Nanthalath Keopaseuth cut a ribbon to launch the mobileapplication fund transfer system between BCEL and BIC in Vientiane.

One of our AIF GROUP’s Business Units,the Bank for Investment and Commerce(BIC) collaborated with The Banquepour le Commerce Exterieur Lao Public(BCEL) to introduce the very

(From right) Mr Lim Wai Hoong, Mrs Kingphongeun Phoummasack, Mr Sonxay Sitphaxay, Mr Soulisack Thamnouvong and Mr
Nanthalath Keopaseuth cut a ribbon to launch the mobileapplication fund transfer system between BCEL and BIC in Vientiane.

One of our AIF GROUP’s Business Units, the Bank for Investment and Commerce (BIC) collaborated with The Banque pour le
Commerce Exterieur Lao Public (BCEL) to introduce the very first real time money transfer system using a mobile phone
application in Lao P.D.R.

The launching of this mobile application provides customers with very convenient and fast service regarding money transfer service between both banks. The official ceremony of the mobile application fund transfer between BCEL and BIC took place last week in Vientiane at Lao Plaza, attended by the Governor of the Bank of the Lao PDR, Mr Sonxay Sitphaxay; Director of
the Payment Systems Department of the Bank of the Lao PDR, Mr Soulisack Thamnouvong; Deputy Managing Director, Mr Nanthalath Keopaseuth; BIC CEO Mr Lim Wai Hoong; and Asia International Finance (AIF) Group CEO and Chairman of BIC Bank, Mrs Kingphongeun Phoummasack, along with guests and executives of both banks.

BIC has been in operations in Laos since 2008 under the name of International Commercial Bank, Malaysia. In 2015, the government approved AIF Group and Electricite Du Laos (EDL) tohold stakes in the bank where AIF Group holds 70% and EDL 30%. The bank changed its name to BIC in late 2017.

The main objective of this cooperation between BIC and BCEL is to develop a real time money transfer that facilitates the customers of both banks to transfer money between the two banks at their time of convenience and at their fingertips. The launching of this product enables BIC customers to use the “BIC Best” Apps to transfer their USD, THB or KIP to BCEL Accounts, and vice versa – BCEL customers can use BCEL One Apps to transfer funds into any BIC accounts.

This partnership is a crucial step of both banks in developing new methods of fund transfer models to meet customer needs
and to provide greater banking solutions. This offers customers a more efficient alternative to perform fund transfer and
methods of accessing their banks to meet their banking needs and services.

Short term loans for a variety of purposes, including new vehicle, wedding expenses, home renovation …