In the vibrant landscape of Cambodia's business arena, a cadre of visionary leaders spearheads the nation's economic growth and development. These business leaders, drawn from diverse sectors including finance, agriculture, technology, and hospitality, play pivotal roles in shaping the country's trajectory. In the microfinance industry particularly, stalwarts with a profound understanding of the socio-economic landscape navigate the challenges and opportunities inherent in serving the unbanked and underprivileged populations.
They champion innovative approaches to financial inclusion, leveraging technology and strategic partnerships to expand access to essential financial services. Moreover, these leaders demonstrate unwavering commitment to corporate social responsibility, actively contributing to community development initiatives and fostering sustainable practices.
Dr. Bun Mony, a prominent figure in the Cambodian financial sector, boasts an illustrious career spanning over two decades in top management positions. Born in 1957, he ascended to the helm of Sathapana in 2001, serving as Chairman until 2011. With a wealth of experience, he transitioned seamlessly between roles, including Executive Director of CCB NGO and General Manager of Cambodian Entrepreneur Building (CEB), before assuming the role of Chief Executive Officer at Sathapana in 2008.
Dr. Bun Mony played a pivotal role in orchestrating the consolidation of Sathapana with Maruhan Japan Bank, leading to the establishment of Sathapana Bank. Under his leadership, the bank experienced remarkable growth, expanding its branch network to 160 offices and amassing total assets of $944 million U.S. by November 2016.
Beyond his corporate endeavors, Dr. Bun Mony's influence extends to the microfinance sector, where he founded various organizations such as CCB NGO, CEB, and Vithey Microfinance. As the inaugural Chairman of the Cambodia Microfinance Association (CMA), he played a pivotal role in shaping the industry's regulatory landscape. Armed with a Bachelor's degree in Business Administration, a Master's degree in Business Administration, and a Doctorate in Business Administration, Dr. Bun Mony remains a stalwart advocate for financial inclusion and sustainable development in Cambodia.
Journey Towards Sustainable Microfinance
Vithey Microfinance, formerly known as Cambodia Community Building (CCB), commenced its operations in 2013 as an NGO and obtained its microfinance license in 2017.
The firm stands as a formidable force in the realm of professional microfinance, fortified by a comprehensive framework that ensures its enduring sustainability. "Since the adoption of an integrated accounting system in 2016, the company has demonstrated exemplary performance, with Microbanker seamlessly orchestrating operations across all departments, including Operations, Finance, Administration, Human Resources, Information Technology, Internal Audit, and Marketing. Bolstered by a team of highly educated and experienced professionals, Vithey Microfinance cultivates a culture of collaboration and confidence, instilling trust among the public and attracting a myriad of reputable microfinance investors, including government-affiliated entities", shares Ky Roetha, Operations Manager & Deputy of Dr. Bun, Vithey Microfinance.
Moreover, Vithey leverages cutting-edge technology and human resources expertise to steer its management towards alignment with its vision and mission. The composition of its board of directors further showcases its commitment to excellence, drawing upon a diverse pool of skills encompassing banking, microfinance, and broader business acumen. “This strategic alignment ensures effective direction, guidance, and control, propelling us towards sustained success and solidifying our position as a frontrunner in the microfinance landscape. We remain poised to uphold our legacy of achievement while continuing to lead the industry towards greater heights of prosperity and impact,” asserts Dr. Bun.
Vithey stands as a beacon of opportunity, illuminating the path towards financial empowerment for all, one community at a time
Empowering Economic Growth
Vithey's strategic vision revolves around an unwavering dedication to uplifting the impoverished while ensuring financial sustainability and shareholder satisfaction. Central to this vision is the dual objective of expanding outreach to the underprivileged and reducing interest rates to levels conducive to their economic empowerment. The company's blueprint for achieving these goals hinges on streamlining administrative processes, enhancing management efficiency, and diligently managing costs of funds. Microfinance, as Vithey recognizes, stands as a linchpin in breaking the cycle of poverty in Cambodia and fostering economic development among its marginalized communities. Amidst a backdrop of burgeoning economic opportunities and political stability, the company is poised to play an increasingly critical role in catalyzing entrepreneurship and socio-economic advancement. Supported by the National Bank of Cambodia, donor agencies, and collaborative efforts within the microfinance sector, Vithey is optimistic about the industry's trajectory towards greater stakeholder satisfaction and enduring partnerships with Cambodian entrepreneurs.
The Robust Way Ahead
With unwavering confidence, Vithey's management and staff anticipate a successful year ahead in 2024, poised to meet and exceed the goals set by the Board of Directors. Their steadfast commitment to excellence is underscored by the determination to maintain their position as Cambodia's foremost regulated microfinance institution. “Gratitude extends to all stakeholders, including the Bank of Cambodia, Board of Directors, creditors, investors, and invaluable clients, whose support has been instrumental in our journey. Special recognition is reserved for Sathapana's managers and staff, including Soum Sakal - Deputy Operations Manager, Ky Roetha - Marketing Manager, whose dedication and hard work have fueled our growth in recent years. Looking ahead, we eagerly anticipate fostering and strengthening partnerships with all stakeholders, envisioning a future marked by unprecedented achievements and milestones in our collective history,” concludes Dr. Bun.
Dr. Bun Mony, CEO
Dr. Bun Mony, a Cambodian financial luminary, boasts over two decades of leadership in the microfinance sector. As former CEO of Sathapana and Chairman of Sathapana Bank, he orchestrated significant growth, overseeing the consolidation with Maruhan Japan Bank. A trailblazer in financial inclusion, he founded CCB NGO, CEB, and Vithey Microfinance, pioneering initiatives to empower the underprivileged. With a Doctorate in Business Administration, he remains committed to fostering sustainable development in Cambodia.
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