SAMIC was formerly known as Cambodian Health Committee, an NGO established in March 1994 in response to the public health problems especially tuberculosis amongs the rural poor. In October 1994 the Company began implementing a rural credit program known as Cambodian Health Committee Credit Program.
The Company received a license to operate as a limited company on 8 July 2005, and in September of the same year the Company was granted a license to operate as a microfinance institution. Then on 18 September 2008 the Company obtained a permanent license from the National Bank of Cambodia (NBC) to continue operating micro-finance services and on 14 December 2012, with approval of both the Ministry of Commerce (MoC) and the NBC, SAMIC changed their status from a limited company to a public limited company retaining the same Vision and Mission statements and Core Values.
Currently, SAMIC is covering 1534 villages, 302 communes, and 50 districts of 1 city, and 8 provinces. 79% of active clients are women and 50% of overall clients are engaged in agriculture activities.
To contribute in poverty reduction, some social projects were implemented in order to help SAMIC’s clients improving their standard of living by implementing Credit with Education (CWE) program to provide trainings to clients and non-clients in rural area on agriculture and financial literacy by using SAMIC’s own resources and in coordination with Good Return, the Consumer Awareness and Financial Education program is being implemented too. With a strong will of increasing yield for a better harvest to most of clients who are farmers, agriculture training has been delivered to 467 participants on animal raising and rice farming in its operational areas.
To participate in reducing of spending on hygiene-related health issues, SAMIC has implemented Latrine Project in partnership with Rural Lives Development Organization (RLDO). The Project has extended to the operational areas of 7 branches with 152 beneficiaries so far and keep expanding gradually.
SAMIC is implementing also a 3-year project known as “WASH Loan Program” with the technical and fund supports by Water.org. The project aims at enhancing the accessibility to clean water and sanitation facilities to improve daily lives and welfare of people in rural and urban areas.
In partnership with MEADA Rabrong, the Micro-Insurance company, SAMIC is offering the insurance services to its clients that cover Loan Protection and Basic Life so as to ensure a sustainable growth of both SAMIC and its clients.
MEADA will cover repayment to SAMIC on behalf of client who is insured under Loan Protection Insurance in circumstance that repayment capacity is impaired or definitely default due to any occurrence of calamity onto the insured. Likewise, not only financial assistance will be granted to the immediate family members but the loan outstanding will be waved too, for circumstance of the death of the insured with whom the basic life insurance is covered.
