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SAMIC

Summary SAMIC is a licensed MFI that serves over 11,000 clients in urban and rural areas through both group and individual loan products, as well as being one of the few MFIs to offer microinsurance. Started as the credit programme of health NGO, SAMIC became a separate organization in 2005. With a committed staff of 142, strong shareholders, and an experienced management team, SAMIC is aiming to expand its reach to new clients and further its vision of improving the living conditions of the poor in Cambodia. Previously known as CHC (Cambodian Health Committee), SAMIC was established in 1994 as the credit programme of CHC NGO, funded by Oxfam America. CHC was a charity organization that worked in rural health, focused primarily on the prevention of the spread of tuberculosis and AIDS in the community. The rural finance program was established in an attempt to alleviate local poverty levels, which has a negative effect on healthcare standards - people who lack basic food and shelter are far less inclined to worry about their health. The credit programme was separated from the healthcare NGO in 2005.

Vision To contribute to poverty reduction and therefore improve the living conditions of the Cambodian poor and support them in their ongoing progression.

Mission To provide financial products/services to rural as well as urban poor people at the most affordable prices, while ensuring long-term sustainability. Core Values

Humility Creativity Responsibility Dependability Honesty Service to people History SAMIC, formerly known as Cambodian Health Committee (CHC) which created in March 1994 for responding to the public health problems in Cambodia, especially tuberculosis and AIDS among rural poor people in the Svay Reang province. In October 1994, CHC began implementing a rural credit program as part of an approach to reduce tuberculosis prevalence by reducing poverty. In 2005, CHC NGO was transformed into a private company, receiving its license as a limited company from Ministry of Commerce, and on the 14th of September the same year, was granted its MFI license from National Bank of Cambodia. 2006 to 2008 CHC Limited expanded its operation to the Presihanouk, Kandal, Siem Reap, and Kep provinces. During this period, CHC Limited strengthened its internal management structure, and established department heads and a board committee. CHC limited received its permanent MFI license from National Bank of Cambodia in 2008. 2009 to 2010 CHC Limited further expanded its operations within its existing provinces, and expanded into Kampong Speu province. It also officially changed its name to SAMIC Limited. Clients SAMIC was established with vision of contributing to poverty reduction and the mission of providing financial services to poor Cambodians living in rural and urban areas. The majority of targeted clients are poor people who live in rural or urban areas, particularly women. SAMIC serves almost 11 thousand clients, in turn benefits an estimated 55 thousand people within local communities, and has a gross loan portfolio more than 7 million USD. The majority of clients are women living in rural areas and working in the agriculture and trade sectors. SAMIC operates in the capital city, Phnom Penh, and 6 provinces, totaling 882 villages within Cambodia, and operating through a system of provincial branches and sub-branches. Four loan products have been introduced to meet the needs of the clients: Individual loans, Group Solidarity Loans, Village Bank Loans, and Emergency Loans. The Group Solidarity and Village Bank Loan are designed for poor people with daily, weekly, monthly, or seasonal income. Loan sizes are small and the clients form solidarity groups to reduce risk to the MFI. The Individual Loan aims to serve clients who require larger loan amounts and long terms. The special Emergency Loan is targeted at clients who suffer any difficulties in their business because of natural disasters or any unexpected accidents. SAMIC is also planning to launch SME loans to service the clients that have grown their business to a certain size.

Staff Currently SAMIC has a dedicated staff of 146, of which 57 are credit officers (COs). All staff of SAMIC follow closely the six core values of SAMIC: humanity, creativity, responsibility, dependability, honesty, and service to the people. Strong human resources is an important factor for creating competitive advantage. SAMIC carefully sets the human resource strategy, to motivate, and maintain the key staff competences. Every year, SAMIC presents a certificate and letter of appreciation to those who have excelled in their role, and offers clear and achievable promotion paths. In addition, regular training is provided to ensure the staff maintains its knowledge and skills.