AMK EMPOWERS WOMEN LEADERS AND WOMEN CUSTOMERS
Phnom Penh: A recent study by Women’s World Banking acknowldged that AMK microfinance institutions Plc. is not only providing fincial services to its clients but also is promoting gender in Cambodia by investing in women leaders and women customers to a great extent.
Women’s World Banking, an international organization designing and investing in the financial solutions, institutions, and policy environments in emerging markets to create greater economic stability and prosperity for women, found in its latest research that staff and leadership focusing on women is part of AMK’s DNA. Management-level staff and gender diversity are key elements of AMK’s identity as an organization that prioritizes women empowerment.
“Promoting gender-diverse leadership at AMK is not positioned as a “women issue;” rather, there is a broad focus on leadership development across the organization. This translates into personal and professional development for all staff with a focus on training and internal hiring; openness to feedback, new ideas, and diverse perspectives; and transparent communication within and across departments and among all employees from front-line staff to the CEO,” said the report.
The report shows that AMK, despite there have been increased in its loan size, and increase in its investment in new channels and technology for its banking system in recent years; yet, it continues to retain its strong committment to empower women leaders and its women clients. “We have witnessed AMK stay true to its commitment to women leaders and women customers for years, even as its average loan size has increased and its offerings have incorporated new channels and technology,” said Women’s World Banking, 2020 in its report.
AMK is known as an institution whose culture is composed of openness, transparency, innovation, and development. Within the organization, staff commit to opening up to new ideas, and the organization commits to being transparent with its staff at all levels; teams and individuals actively innovate; staff can count on the development of their skills and experiences.
The report stated that “Valuing staff at all levels, AMK has institutionalized a culture that prioritizes career development and progression. Even in an industry that experiences prevalent poaching, particularly of frontline staff, AMK believes it is still worthwhile to develop employees. Attrition, too, remains much lower than the industry’s average.”
AMK invests in and empowers women leaders, particularly recognizing women’s barriers to growth in their careers. This is a directive from the top level of the organization. Organizational culture and institutional norms serve as a foundation for women in leadership.
“Rather than seeing women leaders at AMK drive greater investment in women customers, we saw underlying cultural norms and institutional commitments that drove investment in both women leaders and women customers,” said the report.
AMK is one of the leading microfinance institutions in Cambodia in terms of outreach and borrower clients. As of December 2020, AMK has nearly 3,000 staff who serve around 96,000 customers with a loan portfolio of over 4 million and deposit of over 1 million. AMK’s number of offices has reached 149 with over 5,000 agents nationwide. AMK provides a variety of financial products and services including Loan, Deposit, Money Transfer, and Micro-Insurance on health and accident, Bills Payment Services, Payroll, ATMs and CDMs, and Mobile Banking App.
Further information on the report: https://www.womensworldbanking.org/insights-and-impact/investing-in-women-leaders-and-empowering-women-customers-go-hand-in-hand-at-amk-a-cambodian-financial-institution/