Press Conference on “Cooperation on Financial Health Check Service Between Credit Bureau Cambodia (CBC) and AMK Microfinance Institution Plc.”

Published Date: Friday February 15th, 2019

Press Conference

Phnom Penh – On February 15, 2019, at 2:00 PM at the headquarter of AMK Microfinance Institution Plc. held the press conference on Cooperation on Financial Health Check between Credit Bureau Cambodia (CBC) and AMK Microfinance Institution Plc. The two parties have signed the Memorandum of Understanding to make this service available at AMK’s branches, effectively from January 2, 2019, onward.

The press conference honors with the presence of Mr. Oeur Sothearoath, Chief Executive Officer of CBC, Mr. Kea Borann, Chief Executive Officer of AMK, the management team from both parties, and the journalists.

Mr. Oeur Sothearoath, CBC’s CEO said that “within the 6 years of operation, CBC has started with its core service, credit report, which allows its members to understand their customers better and make a decision on loan approval faster, more effective, and more responsible. In addition, this system also helps the general public to understand their creditworthiness to be ready for the loan application. Besides, this credit reporting system also contributed to the financial and economic stability.”

“Due to the importance of credit report to the general public as well as to make it convenient for people living in the province and rural areas, CBC developed the financial health check service with the cooperation with the strategic partner, AMK Microfinance Institution Plc, which has 150 branch office to extend this service available at the branch level of the institution. For the first phase, it is available at 5 provincial branches and expects to roll out to all the branches by end of 2019.” He added.

Financial Health Check is one of CBC services, that allows all public consumers to check his/her own creditworthiness/credit report via strategic agents of CBC. To check their credit health, the general public is just required to bring their national identity card or passport and visit either branch among the 5 branches such as headquarter, Pou Senchey Sangkat Chaom Chau 3 Branch, Kampong Cham Branch, Kandal Branch, or Siem Reap Branch.

Mr. Kea Borann, CEO of AMK said that “AMK is delighted to cooperate with CBC in providing financial health check service to the Cambodian people through the personal credit report request at our Branch office. AMK is serving over 760,000 clients and covers all districts and communes in the kingdom. This financial health check service will help them to understand their financial health at their own wish and promote financial knowledge and responsible for the use of loan with financial institutions.”

Since 2012, CBC has been serving both its members and individuals with its core service, Credit Report. This system has largely contributed to all stakeholders such as general public, financial institutions, and financial sector.

About CBC

Credit Bureau Cambodia is the leading provider of credit information, analytical solutions, and credit reporting services to banks, microfinance institutions, leasing companies, rural credit institution, and consumers in the Kingdom of Cambodia.

CBC has been operated since March 2012, with a strong support from the National Bank of Cambodia (NBC), the Association of Banks of Cambodia (ABC), the Cambodian Microfinance Association (CMA) and the International Finance Corporation (IFC). CBC promotes greater financial stability by providing accurate real time data to consumers and industry that helps them control the financial aspects of their businesses. It allows businesses to manage credit risk, prevent fraud and automate decision-making. CBC also helps individuals to check their credit report to ensure they have access to loans and finance and to protect themselves against identity theft.

About AMK

AMK is a leading Microfinance Institution in terms of outreach and borrower numbers. As of December of 2018, AMK has a coverage of 89% of total villages across Cambodia with the number of staff around 3,000, total clients of over 760,000 with a loan portfolio of over USD 252 million, and deposits of more than US$ 160 million. The number of offices has reached 150, and over 4,000 agents nationwide. AMK provides a variety of financial services including Loan, Deposit, Money Transfer, Micro Insurance, Payment Service, Payroll Service, Agent Banking, ATMs and CDMs.