Heather A. Clark - Beyond Borders, Beyond Banking: The ACLEDA Bank Story, 2005-2019

Heather A. Clark

Beyond Borders, Beyond Banking

The ACLEDA Bank Story, 20052019

Socially responsible business models in the financial services sector are instrumental to the achievement of the Sustainable Development Goals, by ensuring financial agency and inclusion for populations typically left behind by less inclusive financial service pathways. The ACLEDA story is notable in the ACLEDA Groups steadfast determination to unlock barriers to both financial and human capital, at scale, in Cambodia, the Lao PDR, and Myanmar. In its quest to serve millions of low-income customers with financial services, ACLEDA showed its peers why value-driven, customer-centered policies, products, and practices are critical for the growth of an inclusive banking sector. ACLEDAs commitment to building human capital goes beyond banking to higher education, instilling these values in the next generation of bankers.

Judith Karl, Executive Secretary, United Nations Capital Development Fund (UNCDF)

As an innovative microfinance institution founded almost at the same time as those in China, ACLEDAs development experience and successful story have great reference value to the microfinance industry and financial inclusion in China. The ACLEDA Institute of Business has and will continue to play the role of an exchange platform between China and Cambodia in the field of financial inclusion.

Bai Chengyu, Secretary General, China Association of Microfinance (CAM)

Heather Clark shows how ACLEDA Banks ethical leaders, working with committed policy-makers in Cambodia and beyond, contributed to the rational exuberance that has brought growth with equity to the Southeast Asia region. Her highly readable account reveals the keys to development at its best: sound values, dedication to the people, purposeful experimentation, honest dialogue, and perseverance. This is a book to inform and inspire a new generation of finance and development professionals.

Dr. Elisabeth Rhyne, Founder, Center for Financial Inclusion at Accion

The book explores topics of good governance and why these are important from a Governing Board perspective. An effective Board should promote diversity and a culture of ethical behavior, integrity, and transparencyand Independent Directors bring an outsiders perspective, and specialists skillsthey act as a neutral referee in any disputes.

John Brinsden, Chairman of the Board ACLEDA Bank, Plc. (20142015)

The leadership of ACLEDA Bank has always recognized the importance of education. With the ACLEDA Institute of Business, ACLEDA Bank has taken an important step in creating an environment in which Cambodias future leaders are given every opportunity to grow and develop themselves, their fellow students, the businesses and institutions they work for, or those that they will create themselves.

Dr. Gerhardus J.A. Hummels, Social Entrepreneurship Chair in Ethics, Organisations, and Society, Utrecht University, and Professor, School of Economics, Maastricht University

With innovative methods of learning and leveraging on strategic industry partnerships, the ACLEDA Institute of Business seeks to broaden the talent pool, deepen the expertise, and develop a future workforce that will contribute to the growth of the country and the region in the years ahead.

Dr. Eric Teo Khee Hwee, Professor, Nanyang Business School, Singapore

I really enjoyed reading about how ACLEDAs use of digital payments in collaboration with Cambodias regulatory and tax authorities helped to weed out corruption in the financial sectora triumph for all proponents, as am I, of a market systems approach to financial sector development.

Mayada El-Zoghbi, Managing Director, Center for Financial Inclusion, Accion

An insightful book by Heather Clark argues that ACLEDA Banks original core valuesno tolerance for corruption, honesty and personal integrity, customer service, staff ownership, and governancehave been and continue to be key drivers of the banks growth. Long before it became fashionable, ACLEDA put customers at the center ensuring services matched customer needs and enabling customers more productive, useful, and profitable financial management practices. By listening to customers, ACLEDAs leadership acknowledges that their customers are the builders of the bank and that they grow together with the evolution of the bank.

Dr. Monique Cohen, Founder, Microfinance Opportunities

ACLEDA Bank Plc. and ACLEDA Securities Plc. leadership and staff welcome the Peoples IPO in keeping with our beliefs and aims to reach all segments of the population with appropriate financial services and to share ACLEDA Bank Plc.s financial growth with all people who want to participate as well as to make our contribution to the development of Cambodias securities sector.

Mrs. Mar Amara, Board Chairwoman of ACLEDA Securities Plc., andMr. Prom Visoth, President and CEO of ACLEDA Securities, Plc.

We are very excited and honored to be part of the milestone IPO project for ACLEDA as well as the Cambodian Capital market. Peoples IPO is going to open a new chapter for ACLEDA Bank as Cambodia peoples bank. ACLEDA has been the most trusted and loved bank by the Cambodian people, and now the Cambodian people will also own it. The IPO will bring a fundamental change to the Cambodian capital market by tripling the market size and reviving the trading activity.

KT Han, Managing Director, and the Team at Yuanta Securities (Cambodia)

The Norwegian Investment Fund for Developing Countries (NORFUND) invests to promote more access to finance. We value the positive impact that ACLEDA Bank Lao is making in the Lao PDR, providing competitive and first-class service to small and medium-sized enterprises in the country. We are proud to be part of ACLEDA Bank Laos journey and success.