Press releases, press kits and images
For all PR and press enquiries, or to join our media database, please contact the Good Return communications team:
Phone: 0411 398 433
8 August 2019
Statement from Good Return regarding recently released “Collateral Damages” report by Licadho and Sahmakum Teang Tnaut (STT)
A report written by human rights group Licadho and land rights group, Sahmakum Teang Tnaut (STT) titled “Collateral Damages” has been published. It identifies the presence of predatory practices by some Cambodian microfinance institutions (MFIs). We are deeply concerned by the cases and issues surfaced in this report.
Good Return actively works in Cambodia to train the sector on responsible lending practices and educate consumers in how to choose and use the right services for them. All of our efforts are designed to improve services and protect and empower low-income people. Over 50,000 people across the Asia-Pacific region have completed our financial education and consumer awareness training programs, and over 2,000 MFI staff have been trained in responsible banking practices.
We partner with MFIs in Cambodia in various areas to help improve the social outcomes of their work. This has included training in SMART accreditation (a global standard for responsible lending practices), social performance reporting, provision of interest-free loans, and establishment of a financial literacy training program to help clients manage their money and small businesses. Much progress has been made, but clearly, more work needs to be done.
The behaviours outlined in the report are not in accordance with responsible lending standards. They are the reason that we incorporate client protection and consumer empowerment principles into all of our programs, policies and values.