On 21st August 2015, FUNAN Microfinance Plc. is a microfinance institution in Cambodia providing a quality, transparency and trust of leading financial services to contribute the economic development in communities, has organized its workshop at Tonle Basac II under the presiding of representative of board, chief executive officer, deputy chief executive officer and management team from head office and branches. There are three main purposes of this workshop:
1. To announce the achievement of previous year
2. To set five years strategic plan
3. To motivate management team of Funan
Mr. SENG Vannara, deputy chief executive officer said “New story since FUNAN obtained a full MFI license of 2015 we must pay much attention on enhancement of performance in order to convey our institution sustainable and profitable, and we still continues to move with its original mission of providing leading financial services and financial counseling to development of communities and bring around benefits to shareholders, employees and communities.
Mr. SOY Socheat, chief executive officer said “FUNAN also experienced with strong growth in both of geographic areas and outreach to more beneficiaries as well as gaining strong support in public when we were as Cambodian Association Development. So why not today we are MFI? Referring to rapid growth with new comer, so FUNAN need to have strong strategic goal and objective to compete with other MFI which is long operating in Cambodia that is why today workshop has been occurred to shows the appropriate strategies.
Finally, Mr. ENG Kosal, Representative of Board Chairman said “Since we started our association we just walked step by step without caring much on standardized performance because we are far away or restriction from microfinance and banking management regulation. In contrary, FUNAN has received full license and also is compliance with all the requirements of government and especially with National Bank of Cambodia” He continued that “Before we walked but now we run if we do not run we will be back to the end and FUNAN will disappear at anytime”
Currently, FUNAN Microfinance Plc. has a total of 50 operating offices with more than 900 fulltime employees and 30,000 customers at 25 capitals/cities with total loan outstanding reached more than USD 5 million.