News

Micro-life insurance on rise

When 46-year-old Than Thol got a $900 loan from Samic Microfinance last year, he took advantage of a little-known and  lengthily worded insurance program called Measure for Economic and Accelerated Development for All, or MEADA. MEADA provides coverage for families of mostly lower-income borrowers in the ...

http://www.phnompenhpost.com/2013060466033/Business/micro-life-insurance-on-rise.html

AEON widens HP to farmers

AEON Microfinance (Cambodia) Co Ltd says it has expanded its installment payment services into the agricultural sector, a new business type industry insiders say could be successful, but will still not be enough to strengthen one of Cambodia’s most crucial economic sectors. “We will co-operate with ...

http://www.phnompenhpost.com/2013052365789/Business/aeon-widens-hp-to-farmers.html

New Mortgage Program Helps Cambodia's Poor Find Better Homes

If you’ve applied for a mortgage recently, you know how hard it can be. The bank demands all kinds of obscure documents and wants proof of almost every asset you own. But an innovative mortgage program halfway around the world will evaluate your application without ...

http://www.wbur.org/npr/176121367/new-mortgage-program-helps-cambodias-poor-find-better-homes

Cambodia’s Economic Growth Will Help Poverty Reduction

Cambodia economic growth was 7.3 percent in 2012. Agriculture grew by 4.3 percent, crops by 4.9 percent, fisheries by 6.7 percent, industry by 9.2 percent, garment [sector] by 6.9 percent and the service industry by 8.1 percent, said Dr Hang Chuon Naron, Secretary of State ...

http://thesoutheastasiaweekly.com/

Acleda to Launch Banking Services in Burma

Acleda Bank announced on Sunday that it will expand its banking services into Burma by opening a microfinance institute there in January. ...

http://www.cambodiadaily.com

Maruhan Japan Bank buys stake in MFI

Maruhan Japan Bank yesterday became the first commercial bank in Cambodia to make a direct equity investment into a microfinance institution by becoming Sathapana’s majority shareholder, with a 95.1 per cent stake. Financial details were not disclosed. ...

http://www.phnompenhpost.com/index.php/2012110259531/Business/maruhan-japan-bank-buys-stake-in-mfi.html

First financial leasing company for Cambodia

GL Finance (GLF), the first and only financial leasing company in Cambodia, opened its 11th branch in Phnom Penh on Friday, covering all authorized Honda and NCX  dealerships in Phnom Penh and its vicinity. GLF, in partnership with Honda NCX, helps customers buy their own motorbikes and provides ...

http://www.phnompenhpost.com/index.php/2012103059458/Business/first-financial-leasing-company-for-cambodia.html

Cambodia has potential for social businesses

Despite challenges, Cambodia has potential for the establishment and expansion of social businesses, participants of the Microfinance & Social Business Conference in Phnom Penh said yesterday. While social business in Cambodia is still in an early phase compared to micro-finance  “Cambodia is a promising land” for such ...

http://www.phnompenhpost.com/index.php/2012101959321/Business/cambodia-has-potential-for-social-businesses.html

ADB cites weaknesses of microfinance sector

THE PHILIPPINES is one of the leading countries in microfinance policy and regulation in Asia but it still lags in terms of scale and reach to the poor, the Asian Development Bank (ADB) said. “Of the 21 countries with ADB support during 2000-2010, ADB’s efforts were ...

http://www.bworldonline.com/content.php?section=TopStory&title=ADB-cites-weaknesses-of-microfinance-sector&id=60230

Rice Farmers Struggle Despite Production Growth

High production costs and a lack of government assistance is keeping rice farmers near the poverty line despite unprecedented growth in the sector, according to a new study released by local microfinance institution Intean Poalroath Rongroeurng (IPR). The independent study, conducted by two Cambodian researchers ...

Acleda Eyes Expansion Into Burma

Cambodia’s largest bank, Acleda, is looking to get in early on Burma’s economic reawakening with plans to open three microfinance branches in the country as soon as January, the bank’s CEO said yesterday. In Channy said he discussed the plan on Monday with a visiting Burmese ...

Cambodia’s top micro manager [Interview]

How did the floods affect the industry late last year? Of course, we were worried when the floods began because many people were affected. When the floods continued, we did a survey and found that just about 10 per cent of MFI borrowers were affected. But ...

http://www.phnompenhpost.com/index.php/2012030754891/Business/cambodias-top-micro-manager.html

$100m fund to target Kingdom’s growth

Vietnam-based Dragon Capital is raising up to US$100 million for a new Indochina fund, some of which the private equity firm would invest in Cambodian agriculture and infra-structure, Dragon’s chief information officer Bill Stoops said yesterday. Dragon Capital has a 20 per cent stake ...

http://www.phnompenhpost.com/index.php/2012030254815/Business/100m-fund-to-target-kingdoms-growth.html

Despite Hun Sen's appeal, MFIs stay the course

A meeting between microfinance organizations and the finance minister yesterday resulted in no agreements or special measures for debtors affected by last year’s floods, a microfinance representative said, adding that the sector had done enough already to address concerns over debt among flooded communities. On ...

US supports $2.7m in loans for agriculture

The US government is working with a Cambodian microfinance institution to finance $2.7million in loans to farmers and small- and medium-sized agro-businesses in Battambang, Kompong Thom, Pursat and Siem Reap provinces in order to improve their access to credit, the US Embassy said. USAid will work ...

MFI survey claims debtor success

A survey by Cambodian microfinancers showed debtors were better off in several respects than those who didn’t borrow from the institutions, MFI officials claimed. Responding to recent concerns over the role of microfinance institutions in creating poverty and loss of property in the Kingdom, the Cambodia ...

http://www.phnompenhpost.com

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