The Cambodia Microfinance Association (CMA) has announced that it will establish a staff development fund to stem the tide of cross-institutional recruitment in the competitive microfinance institution (MFI) sector.

Under the framework of the fund, which is slated to launch in September, MFIs deemed to have engaged in poaching staff will be required to contribute two months of an employee’s salary to the fund, which will be used to establish a CMA training centre.

Bun Mony, adviser to CMA, said the fund would not stop workers from moving freely from one institution to another, but would encourage members of CMA to invest in building up their staff’s capabilities.