User:AclWebmaster/PRASAC Microfinance

PRASAC is a privately owned Microfinance Institution based in Phnom Penh, Cambodia with 143 offices nationwide, the most in Cambodia, and 1,474 staffs in Cambodia. PRASAC own more than $126 million in total assets and ranks number one Microfinance in terms of Total Assets and Branch Network with $102 million loan outstanding.

MILESTONE
1995 - 1999: PRASAC I, three EU funded rural development projects in six provinces, with three different credit components.

2000: First strategic decision to create a sustainable institution beyond the closure of PRASAC II project.

2001: HO and branch offices separated from PRASAC II, with separate management but still as a part of the project.

2002: Creation of PCA (PRASAC Credit Association), registered with the NBC in March 2002 as Rural Credit Operator.

2003: Two initial shareholders were created, a Trust Fund called CRDF created by PRASAC II and PRASAC Staff Company created by staff members.

2004: Registered as PRASAC MFI Ltd with Ministry of Commerce as a private limited liability company and received license from NBC.

2005: The credit fund was transferred from EC to the government and finally to PRASAC MFI Ltd as Subordinated Debt.

2006: The commercialization process was to seek for equity investment participation from commercial and social investors.

2007: PRASAC completed its transformation by replacing CRDF with new five shareholders, BIO, DGC, FMO, LOLC, and Oikocredit. And, PRASAC received a permanent license from NBC in December 2007.

2008: PRASAC increased its capital to 15 billion riels from six shareholders. PRASAC extended its financial services throughout the country.

2009: PRASAC selected Oracle FLEXCUBE Universal Banking to modernize and leverage its MIS in competition by offering a better diversified financial products and preparing for the next level.

2010: PRASAC has reached 100 million US dollar portfolio outstanding with full operations in 24 provinces and city with the rollout of  rollout it Core banking System. Particularly, PRASAC received MDIlicense from National Bank of Cambodia to mobilize savings from the Public.

Ownership
Shareholders The share capital of the Company is KHR 5.4 Billion (Five point four billion Riel) distributed among the six shareholders - BIO, DCG, MFO, LOLC, Oikocredit, and PSCo.

BIO is a member of EDFI, the Association of European Development Finance Institutions. BIO participates in European Financing Partners / EFP, a co-financing facility established by 10 of the EDFI-members. Its purpose is to facilitate the financing of private sector projects in the ACP states in collaboration with the European Investment Bank for more information please visit this link www.b-i-o.be

Dragon Capital Group (DCG) is a diversified investment banking institution offering traditional financial products and services with an exclusive focus on Vietnamese capital markets. The firm is known both within Vietnam and international financial circles as one of the premier Vietnam-focused financial institutions. Dragon Capital Group serves the investment banking needs of international and domestic businesses to enable them to realize their investment goals in Vietnam for more information please visit this link www.dragoncapital.com

The Netherlands Development Finance Company (FMO) supports the private sector in developing countries and emerging markets in Asia, Africa, Latin America and Central and Eastern Europe. We do this with loans, participations, guarantees and other investment promotion activities for more information please visit this link www.fmo.nl

Lanka Orix Leasing Company strives to deliver financial services to its customers with both corporate and rural grass roots level, in every region where it operates in Sri Lanka. Since its inception in 1980, it has been working with small and medium size entrepreneurs, which represents over 80% of its client portfolio. The Company innovates continuously in providing adapted financial solutions such as leasing products, factoring services, savings and deposits products, small loans and insurance broking services for more information please visit this link www.lankaorix.com

Oikocredit: Started as a pioneer in the field of development financing, Oikocredit is today one of the largest financiers of the microfinance sector worldwide. Oikocredit is one of the few ethical investment funds, which finances development projects in the South benefiting disadvantaged and marginalized people. Privately owned, Oikocredit is a unique cooperative society, which encourages investors to invest their funds in a socially responsible manner for more information please visit this link www.oikocredit.org

PRASAC Staff Company (PS Co.) was established under the law and general provisions of Kingdom of Cambodia and has the following objectives: To make equity investments in PRASAC MFI Ltd and to manage the investments in accordance to high moral and professional standards, with transparency and good governance. The company may be engaged in any other capital- and asset management, investment and trading and other financial or other activities and services which relates directly or indirectly to the above objectives or similar purposes, and is characteristic to the development of the company’s operations.