Angkor Mikroheranhvatho (Kampuchea) Co. Ltd. (AMK) began as a part of Concern Worldwide; their initial work was with savings and credit in Cambodia. From the years of 1997 – 1998, this area of work was separated from their broad-spectrum focus in regards to community development programs.

The vision of this branch of the organization was long-term, a Cambodian society in which citizens would have “equal and sufficient economic and social opportunities to improve their standard of living, and where they could positively contribute to the overall development of the country.”

The section had grown significantly by the year 1999, having accumulated a value of about KHR 1,000 million (US $250,000). With this success in mind, Concern Worldwide began the process of making this division an independent legal entity.

In 2001, the name of the organization was set to Thaneakea Ponleu Thmey (TPT) and became an officially recognized Cambodian Microfinance Institution (MFI). As things progressed from 2002 to 2003, the organization finally gained its current title – AMK. It was now independent from Concern Worldwide.

Over the years, AMK has built itself up to be a highly successful organization with a large amount of growth and stability. AMK even weathered the global financial crisis of 2008. It is currently regarded as one of the leading financial institutions in Cambodia.

The staff of AMK keeps ethics high on the priority list. Their Code of Practice includes the following: inclusion of the poor, transparency and honesty in transactions, ethical and respectful behavior, avoidance of over-indebtedness, freedom of choice, reasonable and collaborative collection practices, accessible complaint and problem resolutions, and privacy of client data.

At this moment, AMK provides credit to over 250,000 Cambodian customers (over 2 percent of the entire population and 9 percent of the households in Cambodia). This large number gives AMK Cambodia the ability to exercise great influence over financial inclusion in the country.

Other information regarding the organization’s successes and current assets can be found at AMK Cambodia’s Highlights.

– Samantha Davis

Sources:  AMK Cambodia, Britannica
Photo: Oiko Credit