About Cambodia Microfinance Association

In August 2002, an outcome of a meeting among different MFIs (AMRET - formerly EMT, HKL, Seilanithih, Vision Fund Cambodia , SATHAPANA, PRASAC formerly-PCA, and HI/ADC) was an agreement to set up a microfinance association. During the time period of August 2002-November 2003, a constitution for the association was drafted by a small sub-working group. In November 2003, the Cambodian Microfinance Association set up an organizational and governing structure including a General Assembly, Board of Directors, and elected a Secretary General and Board Chair. Cambodia Microfinance Association (CMA) was formally established in January 2004 by 7 MFIs SATHAPANA, AMRET, HKL, Maxima, Seilanithih, CREDO, and PRASAC. On October 18 th, 2004, CMA formally registered at the Ministry of Interior as a non governmental organization. The purpose of CMA is to ensure the prosperity and sustainability of microfinance sector in Cambodia . CMA plays a vital role such as creating local and international networks as well as seeking equity and loan funds, new technologies and conflict resolution between microfinance operators. All of these activities have led each member MFIs to become stronger and more successful and thereby attract support from the international market, smoothly growing expansion. According the Banking and Finance Law in Cambodia (Chapter 22, Article 72) there is only scope for one professional association related to banking services permitted in Cambodia . The National Bank of Cambodia (NBC) has approved that CMA operates as a sub-division of the Association of Banks in Cambodia (ABC) in accordance with the law. Currently, CMA becomes a sub-division of ABC and recognized by NBC on 19 January 2008. As a sub-division of ABC, CMA is an institutional member of ABC and can negotiate directly with NBC on relevant microfinance matters. At this inception in 2004, the CMA General Secretariat was comprised of a General Secretary and an Assistant Secretary. At the outset, he Secretary General was a part time volunteer and Assistant Secretary a full time staff position funded by members. The General Secretariat operated from rented office space in one of the member institutions. In mid 2006, CMA moved to its own premises in the Mekong Bank compound first floor and has two full time paid staff members: a General Secretary, and a Finance & Administration Officer. Both positions were funded by Agence Franaise de Dveloppement (AFD) in 2006 and membership dues. 2007, Agence pour le Dveloppement Autonome (ADA) Luxembourg for funding designing and delivering training to our members in early 2007, this project was deigned and defined in 2006, and also has two full time paid staff members: a General Secretary, and a Finance & Administration Officer. Both positions were funded by ADA. In early 2008, CMA has four full time paid staff members: a General Secretary, a Finance & Administration Officer, an IT and Project Assistant Officer, and an Admin Assistance and Driver. All the staff are funded by ADA and Flanet Finance. In 2009, CMA has six full time paid staff members: a General Secretary, a Finance and Administration Officer, an IT and Maketing Assistant Officer, a Training Manager, an Admin and Training Assistant Officer, and a Cleaner. Since its creation, CMA has grown from a membership association serving 7 members in 2004, to 11 members in 2005, 13 members in 2006, 14 members in 2007, 17 members in 2008, and 18 members in 2009. The current members are AMK, AMRET, CBIRD, CREDIT, EAP, FarmerFinance, FirstFinance, GCMF, FUDF, HKL, IPR, MAXIMA, PRASAC, SAMIC, SATHAPANA, SEILANITHIH, TFMF, TPC, VisionFund, and YCP. Vision

Cambodia citizens should receive financial services in a timely fashion through a sustainability financial system.

Mission :

To facilitate microfinance operators in their operations and to strengthen communication with authorities, national and International donors, creditors and investors.

Overall goal:

To create a sound communication system within microfinance sector and to ensure smooth operation. To create a forum to share experience and knowledge to build confident and improve the self-sufficiency, transparency and management in a sustainable manner. To create a channel of communication with national and international financial markets in order to exchange experiences. To improve the awareness of microfinance in the country by government agencies, policy makers and stakeholders. To promote transparent competition in the market by ensuring the sustainability of microfinance. To improve the representative voice and protect interests' microfinance sector when negotiates and lobby the government, national bank of Cambodia, and national and international stakeholders. To raise fund to support the association.  Source: http://cma-network.org/CMA/about.htm