No, not bankers. Small investors. Isn't it a bit unethical to support a lot of bad financial advisers and a culture that gets young men to put up their land for a loan to get married when they can't afford to make the repayments - resulting in the bank foreclosing on their family's land? Doesn't it stink of exploitation of the uneducated just a little bit?YaTingPom wrote:Ethical. In Cambodia...
Ethical bankers in Cambodia!
'MFIs are privately owned, not government' message
- Lucky Lucan
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It sure does, but the point was that the MFIs are privately owned, and although they should be better regulated they are not government bodies.Abou-Gor wrote: Doesn't it stink of exploitation of the uneducated just a little bit?
Romantic Cambodia is dead and gone. It's with McKinley in the grave.
I don't know why you have such a negative downer on KOW - you're always starting threads on negative aspects of this country. Are you even here?Abou-Gor wrote:No, not bankers. Small investors. Isn't it a bit unethical to support a lot of bad financial advisers and a culture that gets young men to put up their land for a loan to get married when they can't afford to make the repayments - resulting in the bank foreclosing on their family's land? Doesn't it stink of exploitation of the uneducated just a little bit?YaTingPom wrote:Ethical. In Cambodia...
Ethical bankers in Cambodia!
Anyhoo. The default rates are far, far less (maybe 2%?) than the "uneducated" people who've started their own business or invested the money and not defaulted. These are the ones who are Cambodia's future.
If they want to borrow more than they could possibly pay back then that's up to them but I don't think the practice of getting an MiFi loan to pay a dowry is widespread, seeing as the average loan is $1500, I thought they just robbed dumb barang!
pew, pew, pew, pew!
- newkidontheblock
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Are the banks encouraging this? I haven't seen any billboards or ads of any sort telling young men or their families to do this.Abou-Gor wrote:Isn't it a bit unethical to support a lot of bad financial advisers and a culture that gets young men to put up their land for a loan to get married when they can't afford to make the repayments - resulting in the bank foreclosing on their family's land? Doesn't it stink of exploitation of the uneducated just a little bit?
I think you're mixing up cultural traditions passed down through the generations. Khmer families have always supported young men to get married. It's not a new thing brought on by micro-financiers.
The new equation is the easy access to money. That and many Khmers don't have very good financial sense and can't see long term consequences of their actions vs. short term gain.
Don't worry, be happy.
- newkidontheblock
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No matter how bad it gets, iron man is a proven survivor. Ain't nobody gonna drive him off the throne. KR isn't coming to depose him. He was KR before. Last guy to try was Randarrith, and his troops didn't fare so well out in Battambang.
Don't worry, be happy.
Why? It's not just the KOW you know. Take a look at what's happening in the world why don't you, and you may see why rapid growth through cowboy capitalism is not such a good idea. Nor is protecting virtual dictators that want to suppress all rights and freedoms for investment returns./ What are you spending the money on anyway? Your wife? Your beer? Another BBK1 meal?YaTingPom wrote: I don't know why you have such a negative downer on KOW - you're always starting threads on negative aspects of this country. Are you even here?
Not sure if that is right as the microinsurance idea wouldn't be finacially viable. Look at the companies concerned in providing them.Anyhoo. The default rates are far, far less (maybe 2%?) than the "uneducated" people who've started their own business or invested the money and not defaulted. These are the ones who are Cambodia's future.
One of the greatest challenge for microinsurance is the actual delivery to clients. Methods and models for doing so vary depending on the organization, institution, and provider involved. As Dubby Mahalanobis states, one must be thorough and careful when making policies, otherwise microinsurance could do more harm than good.
Whatever, the NBC agrees with you, but they also stand to make some profit.If they want to borrow more than they could possibly pay back then that's up to them but I don't think the practice of getting an MiFi loan to pay a dowry is widespread, seeing as the average loan is $1500, I thought they just robbed dumb barang!
Small loans was another great idea that certain types of people have managed to bend into something quite nasty. They were to help the poor, not f'in give their land to the bank!
Just a few thoughts and ideas. Carry on...
http://www.phnompenhpost.com/business/f ... y-campaign
First day of school for financial literacy campaign
First day of school for financial literacy campaign
Good old NBC.Wed, 1 March 2017
Hor Kimsay
The central bank began distributing materials to schools yesterday as part of a program aimed at increasing the low financial literacy of Cambodians, which studies have shown makes them vulnerable to over-indebtedness and fraud.
The National Bank of Cambodia (NBC) sent out 100,000 comic books titled Let’s Talk Money! to primary schools nationwide. The books, developed in cooperation with Good Return, an Australian NGO that promotes financial inclusion and responsible lending, aim to educate children aged 8 to 12 on the basic concepts of savings, interest rates and managing daily expenses.
Chea Serey, director-general of the NBC, said after the launch ceremony that the initial print run of 100,000 booklets would see about 10 books delivered to each school, which was not enough, but it was hoped the private sector would lend support to the initiative and provide funding to print more copies.
Superb initiative, and Chea Serey is also pushing for financial literacy to be incorporated into the school curriculum.Abou-Gor wrote:http://www.phnompenhpost.com/business/f ... y-campaign
First day of school for financial literacy campaign
Good old NBC.Wed, 1 March 2017
Hor Kimsay
The central bank began distributing materials to schools yesterday as part of a program aimed at increasing the low financial literacy of Cambodians, which studies have shown makes them vulnerable to over-indebtedness and fraud.
The National Bank of Cambodia (NBC) sent out 100,000 comic books titled Let’s Talk Money! to primary schools nationwide. The books, developed in cooperation with Good Return, an Australian NGO that promotes financial inclusion and responsible lending, aim to educate children aged 8 to 12 on the basic concepts of savings, interest rates and managing daily expenses.
Chea Serey, director-general of the NBC, said after the launch ceremony that the initial print run of 100,000 booklets would see about 10 books delivered to each school, which was not enough, but it was hoped the private sector would lend support to the initiative and provide funding to print more copies.
“The whole secret lies in confusing the enemy, so that he cannot fathom our real intent.”
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