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Published in:
Introduction: Building the Future—Beyond Borders, Beyond Banking Read chapter Read first chapter

2020 | OriginalPaper | Chapter

7. Products and Performance

Author : Heather A. Clark

Published in: Beyond Borders, Beyond Banking

Publisher: Springer Singapore

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Abstract

The chapter starts with the investment ACLEDA Bank made in the financial system to enhance transparency with an innovative pilot project, promoted by the Ministry of Economy and Finance (MoEF) to “digitize corruption out of the market”. Other lessons about financial product development—both successes and failures—are presented. The chapter concludes with ACLEDA Bank Plc. performance and contributions to Cambodia's banking sector over more than a decade of operations.

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previous chapter Pioneers and Protégés
next chapter Building ACLEDA Bank Lao Ltd.
Footnotes
1
The decision to transform, the evolution of the ACLEDA MFI, the plan for transformation readiness, and the governance of the transition team are discussed in Chaps. 5 and 6.
 
2
For a description and definition of a specialized bank and the minimum capital requirements of microfinance deposit-taking institutions (MDIs), specialized banks, and commercial banks in Cambodia, refer to Chaps. 5 and 6.
 
3
See Chap. 3 for advances in the “flight to quality” within the Cambodian banking sector.
 
4
A payment system is any system enabling the transfer of funds between parties. For example, when a bank processes a check, it uses a payment system to collect funds from the bank on which the check was drawn and then transfers the funds to the payee’s account. In 2018, most payment systems are electronic, and most involve the Central Banks of a country in some way. Financial Dictionary at www.​thefreedictionar​y.​com
 
5
See Chap. 3 for a discussion of the market development approach to systemic change.
 
6
The number of registered vehicles in Cambodia grew by 14% in 2016, with more than 3.2 million vehicles registered, including 2.7 million motorbikes, according to the Ministry of Public Works and Transport. To put this staggering figure into perspective, for every five people you meet in Cambodia, at least one of them probably has a registered motorcycle.
 
7
Bancassurance is a business relationship between banks and insurance companies, generally using the bank’s consumer network and relationship to offer insurance products to a larger number of people.
 
8
For a more detailed discussion of community banks refer to WTWNM.
 
9
The year 2009 was a particularly difficult one for all banking transactions worldwide due the global financial crisis and its aftermath, which generally slowed economic activity in every country, including Cambodia.
 
10
Commercial bank and specialized bank employment figures for 2017 from the NBC Annual Supervision Report 2017.
 
11
The topic of education and training for the Cambodian banking sector as well as others is discussed later in Chap. 10 on the ACLEDA Institute of Business.
 
12
For more global information, a good reference is the MIX Market, www.​mixmarket.​org
 
13
For a review of the components of a financial market system refer to Chap. 3.
 
14
The following chapters discuss regional and national formal higher educational efforts through the ACLEDA Institute of Business and expansion of on-the-job training in Laos and Myanmar.
 
15
See Chap. 3 for Cambodia’s financial literacy campaign and intentions to integrate financial education into public school curricula.
 
Literature
Cengel, Dennis (2006) quoted in When There Was No Money. Springer, Berlin – Heidelberg
Clark, Heather (2006) When There Was No Money. Springer, Berlin – Heidelberg
Landy, Morgan (2006) quoted in When There Was No Money. Springer, Berlin – Heidelberg
Phong, Kimchhoy, Lihol Srou and Javier Sola. December 2016. Mobile Phones and Internet Use in Cambodia 2016. Research Report. The Open Institute, USAID’s Development Innovations and The Asia Foundation.
Sorn Sarath (2016). Tax authority sets window for road tax compliance. 23 June 2016. Phnom Penh Post, Phnom Penh
Metadata
Title
Products and Performance
Author
Heather A. Clark
Copyright Year
2020
Publisher
Springer Singapore
Book
Beyond Borders, Beyond Banking

Print ISBN: 978-981-15-1686-3

Electronic ISBN: 978-981-15-1687-0

Copyright Year: 2020

DOI
https://doi.org/10.1007/978-981-15-1687-0_7