CARD Myanmar strengthens partnership with Savings Banks Foundation

From left to right: Josef Leron, CMCL Managing Director; Flordeliza Sarmiento, CARD MRI Managing Diretor; and Dr. Ilonka Ruhle-Stern, SBFIC Head Division Asia.

CARD Myanmar Company Limited (CMCL) renews its partnership with the Savings Banks Foundation for International Cooperation (SBFIC) to continue its mission in eradicating poverty in Myanmar.

“With our tireless efforts to achieve our goal, CARD Myanmar continues to expand its outreach in far-flung communities and urban poor areas in the country. With this strong partnership with SBFIC, we are expecting to reach more clients and provide them access to financial products and services,” said Josef Leron, Managing Director of CARD Myanmar.

Leron also stressed that the partnership will be a great help to empower the marginalized sector of the Republic of the Union of Myanmar. This is one of many ways of CMCL to provide financial connection for them to grow their businesses and to improve their quality of life.

“The overall goal of the partnership is to reduce poverty and promote economic development of communities by improving the financial services we provide,” Leron added.

He also emphasized that with the good performance of members, with 99.80% repayment rate, of CARD Myanmar, the goal of this partnership will continue to reach more unserved and underserved Myanmar people.

CARD Myanmar COMPANY LIMITED is solely owned by the Center for Agriculture and Rural Development (CARD), Inc., a microfinance NGO and a member of CARD Mutually Reinforcing Institutions. “CARD MRI widens its presence outside the Philippines to reach the poverty-stricken communities,” said Flordeliza Sarmiento, CARD MRI Managing Director.

CMCL was established in December 2013 and has been helping communities to have a good way of living.  As of July, CARD Myanmar has a total loan disbursement of $ 1,145,973 (PhP 60,023,773) and is serving a total 19,000 active clients.

CARD Myanmar Company Limited has a total of 16 branches in Bago and Yangon divisions.