MFIs Development in Cambodia Today

On June 26, 2010, Amret Microfinance Institution delivered a workshop to the University of Cambodia. The workshop, presented by Sean Thorninn (an instructor with UC’s College of Management), was on “MFIs Development in Cambodia Today.” UC representatives attended the seminar, including Associate Dean Gina Lopez.

MFI refers to a Microfinance Institution, which is an organization that provides financial services to the poor, in the form of access to loans, savings facilities, money transfer services and micro-insurance.

The presenter covered the development of MFIs in Cambodia, the relationship between MFIs and Cambodian Economic Development, the impact of the global financial crisis on MFIs and strategies that were implemented to ease the resultant tensions and further challenges still ahead for MFIs.

He noted that, in Cambodia as elsewhere in the developing world, MFIs have played a critical role in filling the gap between the top 20 percent of the economic pyramid and rural communities that make up more than 80 percent of the overall population. MFIs provide loans to rural Cambodians who live in poverty.

Some of the strategies implemented include increasing deposit through interest rate, creditability building, customer relationship and mobile banking, in addition to diversifying and strengthening the relationship with international and local lenders and customers.

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