Four-year operating as a credit operator in Cambodia, Cambodian Association Development (CAD) has committed to transferring to Microfinance Institution in order to serve financial services conveniently to its customers. Through this ambition, CAD has met many obstacles and difficulties to apply for full license from National Bank of Cambodia (NBC).
After getting principal approval from NBC, FUNAN is required to fulfill the following requirements within 6 months such as transfer of capital, paid in capital guarantee, certificate of registration at the Ministry of Commerce, patent issued by the General Tax Department, approval from local authority for office address, staff recruitment, office premise and installation of IT infrastructure.
As the result on August 11, 2015, FUNAN Microfinance Plc. received the Microfinance Institution (MFI) License from National Bank of Cambodia.