NBC Encourages Microfinance Institutions to Apply Client Protection Principles

National Bank of Cambodia (NBC) has encouraged all microfinance institutions across Cambodia to apply client protection principles so as to sustainably contribute to poverty reduction.

NBC Deputy Governor H.E. Ms. Neav Chanthana made the call during the recent dissemination workshop on Pathway to Certification under Client Protection Framework 2.0 taking place here in Phnom Penh.

The implementation of client protection policy yields best benefit both for the microfinance institutions themselves and the clients, said the national bank's deputy governor.

Ethical and transparent loan provision and other operations by microfinance institutions, she added, stabilise financing services and well align with poverty reduction plan of the Royal Government of Cambodia.

According to Mr. Bun Mony, advisor to the Cambodia Microfinance Association, there are eleven microfinance institutions applying the client protection principles and eight of them got certified in the past three years.

The certified microfinance institutions are LOLC, PRASAC, SPN, Vision Fund Cambodia (VFC), Hattha Kaksekar Limited (HKL), Amret, KREDIT and AMK; and the certification is well recognised and serves as role model beyond national boundary.

Source: Agency Kampuchea Press