FI/ LG/ Self regulations Committee

1. Background

The microfinance sector in Cambodia has played an important role in the development of Cambodia, especially in the last 15 years. There has been a dramatic increase in the number of financial services providers, which has led to an increase in competition in the market and over-indebtedness being one of the biggest concerns. The establishment of an autonomous self-regulation mechanism that includes the association’s COC and LG and the Standard Loan Contract is not yet sufficient to ensure the concern, it will be more focused on increasing financial literacy among clients and additional research aim to monitor and evaluate the implementation of the financial inclusion is essential.

2. Purpose of the Committee

The establishment of the Financial Inclusion and Self-regulation committee is in line with the development of the microfinance sector and accordance with the National Strategy on Financial Inclusion 2019-2025. This committee created aimed to promote and improve access to formal and responsible financial services in Cambodia.

3. Committee Composition:

Chairman:

• Mr. KEA Borann, CMA Board Member and CEO of AMK Microfinance Institution Plc.

Vice-Chair:

• Mr. SOK Voeun, Vice-Chairman of the CMA's BoD and CEO of LOLC (Cambodia) Plc.

Member:

• Ms. KHUN Sonita, CMA Board Member and CEO of YCP Microfinance Institution Plc.
• Mr. KHOU Buntry, CMA Board Member and CEO of FUNAN Microfinance PLC.
• Mr. PA Ponnak Rithy, CMA Board Member and Board of Director of Maxima Microfinance Institution
• Oknha HOUT Ieng Tong, Advisory Board Member
• Mr. Yannick Nicolas MILEV, CMA Board Member and CEO of Chamroeun Microfinance Institution Plc.
• Mr. DY Sitha, CMA Board Member (representative of Rural Credit Institution) and CEO of DAIKOU Finance Plc.
• Mr. KHENG Tilen, CMA Board Member (representative of Leasing Institution) and CEO of BSP Finance (Cambodia) Plc.

Invitee:

• Mr. MUTH Pisey, Head of Credit Department of LOLOC Cambodia Plc.
• Mrs. NUB Socheat, Head of the Sustainability Management Department of LOLOC Cambodia Plc.

Committee Structure