FI and Self-regulation 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. SOK Voeun, Chairman of the CMA's BoD and CEO of LOLC (Cambodia) Plc.

Vice-Chair:

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

Member:

• H.E DITH Nita, Vice-Chairwoman of the CMA's BoD and Chairwoman of the Board of Directors of CAMMA MICROFINANCE LIMITED.
• Mr. SIM Senacheert, CMA Board Member and CEO of First Finance Microfinance Institution Plc.

Invitee:

• Mr. SOUN Pisey, Chairman of Operation Club and DCEO and Chief of Business Officer of AMK Bank Plc.
• Mr. KONG Kosal, Vice-Chairman of Operation Club and Head of Business Department of LOLC (Cambodia) Plc.

Secretariat:

• Mr. SOEUM Kiry, Head of Financial Inclusion Department of Cambodia Microfinance Association (CMA)

Committee Structure