AMK Recognized to be the Only MFI using the most Khmer Riels
Phnom Penh: AMK Microfinance Institution Plc. is recognized by the National Bank of Cambodia (NBC) as the only MFI using the most Khmer Riels in its business operations. This recognition was announced during the 36th Khmer Riel Day organized by the National Bank of Cambodia in cooperation with the Young Entrepreneurs Association of Cambodia (YEAC) held on March 20, 2016 at the Cambodia-Japan Cooperation Center (CJCC).
This Day is the 36th Anniversary of the Re-introduction of Khmer Riel to circulation after the collapse of the Khmer Rouge regime as well as for the support and encouragement of both the private sector and government agencies to voluntarily use Khmer Riels in their business operations. This Day is also a platform for stakeholders to learn about the importance of Khmer Riels towards the economy and society as well as to contribute to the implementation of the Policy to Promote the Use of Khmer Riels of the Royal Government of Cambodia.
Mr. Kea Borann, CEO of AMK Microfinance Institution Plc. said, “AMK is proud to be recognized as the only MFI in Cambodia using the most Khmer Riels in its business operations”. He added, “The use of Khmer Riels helps promote livelihoods and economy as a whole”. Mr. Kea Borann said that AMK will continue to use Khmer Riels in its operation as AMK’s customers are mainly rural populations who do not need foreign currencies. Besides using Khmer Riel to provide loan to our customers, we focus on saving in Khmer Riel as well. As a result, almost 80% of AMK loan and 65% of deposit balance in Khmer Riel currency as of 31 December 2015.
It is to be noted that besides being the only MFI using the most Khmer Riels, AMK is also an MFI with the highest number of customers in Cambodia.