Logo of Phnom Penh Post newspaper Phnom Penh Post - Microfinance sector requests four CSOs to alter reports



Microfinance sector requests four CSOs to alter reports

Content image - Phnom Penh Post
The reports claimed that some rural families had been driven into so much debt that they had to sell their land or work indefinitely with no hope of paying their loans in full. LICADHO

Microfinance sector requests four CSOs to alter reports

The Cambodia Microfinance Association (CMA) has requested that four civil society groups change their reports from May 2019 to March 2020 that accuse their members of predatory lending techniques.

The reports claimed that some rural families had been driven into so much debt that they had to sell their land or work indefinitely with no hope of paying their loans in full.

The CMA claimed the reports were not true, but the civil society groups disagree.

The four groups that issued reports were the Cambodian League for the Promotion and Defence of Human Rights (Licadho), Sahmakum Teang Tnaut (STT), the Cambodian Alliance of Trade Unions (Catu) and the Centre for Alliance of Labour and Human Rights (Central).

The Association of Banks in Cambodia (ABC) joined CMA in refuting the reports.

A joint-release said: “Some reports from civil society groups are not all accurate. It can give an opportunity to some bad people to incite and cause social disorder, which can affect the dignity of banks and financial institutions.

“They are the backbone of the national economy and security.”

On July 16, the four civil society groups released letters saying their reports were true and would not be changed.

CMA chairman Kea Borann told The Post on Tuesday that CMA does not have any additional response to the groups’ claims.

“We have already said that the news and interviews with customers are different from the report of those civil society groups. We told people about this. It is the responsibility of those civil society groups to answer for their reports,” he said.

ABC president In Channy told The Post on Tuesday that it still wants the reports changed.

“The letter clarified enough points. I do not want to give more comments about the meaning in the letter. I am sticking to the letter,” said Channy.

The civil society groups claimed that their reports cannot be changed.

In a joint statement, they said: “We will continue to protect the privacy of people who have chosen to share their stories with us on condition of anonymity. We encourage you, and all interested parties, to read the reports in full to better understand their purpose, methodology, and findings.”

The deputy director of monitoring at Licadho Am Sam Ath confirmed on Tuesday that the reports won’t be changed.

He encouraged the CMA, ABC and relevant institutions to read and review the reports.

“Carefully read to understand the real purpose of this report. Our reports do not serve the interests of any political party. Our report would like to highlight some of the impacts on the human rights sector arising from some parts of microfinance loans,” he said.

MOST VIEWED

  • Would you like fries with that? US burger chain makes Phnom Penh debut

    California-based The Habit Burger Grill restaurant chain is all set to serve up a delicious array of charbroiled burgers and sides at its newest international location in the centre of Phnom Penh. The Habit is “renowned for its award-winning Charburgers grilled over an open flame,

  • Angkor provides ‘valuable’ water storage

    The Apsara National Authority (ANA) has stored millions of cubic metres of water at reservoirs in the Angkor area after Cambodia experienced a series of rainstorms over the last few days. The storing of the water, besides serving temple conservation, will also be used to

  • Floods prompt evacuations in Kampong Speu

    Rain-induced floods and water flowing from Kampong Speu province have submerged the houses of 1,527 families living close to the Prek Thnot River in Spean Thma, Tien, Kong Noy and Roluos communes in Phnom Penh’s Dangkor district, according to data from local authorities. Spean Thma

  • Banteay Meanchey floods kill one more as death toll reaches 15

    As floodwaters start to recede in Pursat, Battambang and Pailin provinces and Phnom Penh, Banteay Meanchey continues to bear the brunt as one more person was killed on Monday, bringing the total number of flood-related deaths to 15 in the province this month. Banteay Meanchey provincial

  • Serving coffee with a side of robots

    The eye-catching glass building surrounded by greenery at the intersection of Streets 371 and 2002 in Phnom Penh’s Sen Sok district is more than just another coffee shop where you can while away a few hours. UrHobby House cafe is filled with robots and characters from

  • Cintri strike ends, workers’ contracts to be terminated

    CINTRI (Cambodia) Ltd rubbish collectors who have been on strike for the past 13 days agreed to return to work starting Wednesday evening after the company agreed to terminate their contracts at the end of January next year and provide seniority payments and other benefits to