When There Was No Money: Building ACLEDA Bank in Cambodia's Evolving Financial Sector [Hardcover]

Heather A. Clark (Author)

Book Description

Publication Date: April 27, 2006

The largest retail branch bank network is built in one of the most formidable environments in the world. This book takes the journey from Year Zero to the present, tracing the trials and triumphs of a group of people as they built an employment generation project for demobilized soldiers in 1992 into the largest commercial retail bank branch network in Cambodia by 2003. Along the way they influenced the nation’s financial system and stimulated a banking industry that serves poor and low-income people. The book offers a tantalizing analysis of events, organizational dynamics and a business model that incorporates profit and purpose. It examines the transition from the microfinance field that is jealously guarded by donors to a breakthrough response of commercial banking for the people.

Editorial Reviews

From the Back Cover

The largest retail branch bank network is built in one of the most formidable environments in the world. This book takes the journey from Year Zero to the present, tracing the trials and triumphs of a group of people as they built an employment generation project for demobilized soldiers in 1992 into the largest commercial retail bank branch network in Cambodia by 2003. Along the way they influenced the nation’s financial system and stimulated a banking industry that serves poor and low-income people. The book offers a tantalizing analysis of events, organizational dynamics and a business model that incorporates profit and purpose. It examines the transition from the microfinance field that is jealously guarded by donors to a breakthrough response of commercial banking for the people.

Product Details

• Hardcover: 277 pages
• Publisher: Springer; 1 edition (April 27, 2006)
• Language: English
• ISBN-10: 3540288767
• ISBN-13: 978-3540288763
• Product Dimensions: 9.4 x 6.4 x 0.8 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #2,618,378 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

5.0 out of 5 stars excellent reading, March 10, 2006

By 

Mark Vanderbildt (Michigan) - See all my reviews

This review is from: When There Was No Money: Building ACLEDA Bank in Cambodia's Evolving Financial Sector (Hardcover)

Clark has written a remarkable story of modern microfinance. The evolution of ACLEDA is a lucid demonstration of the past, present and future thinking on microfinance worldwide from a more charitable exercise stigmatising microentrepreneurs as "the poor" to a businesslike venture that is focused on delivering competative financial services to the same customer base. Clearly a victory for the micro-entrepreneurs in Cambodia.

5.0 out of 5 stars A Brilliant Read & Excellent Case Study in Poverty Reduction, December 7, 2005

By 

Ann Norman (New York, New York) - See all my reviews
(REAL NAME)   

This review is from: When There Was No Money: Building ACLEDA Bank in Cambodia's Evolving Financial Sector (Hardcover)

"When There Was No Money" is a superb story, delightful reading AND a valuable education in microfinance and poverty reduction strategies.
I would encourage all types of people to read this book, from the general reader looking for an interesting story to curl up with, to the economist charged with improving a national economy. The lessons to be learned from this book and history are remarkable.
The history walks you through the literal time in Cambodian history (not that long ago) when there was no money, no national currency because it had been eradicated as something evil under a terrible regime. Acleda Bank has grown to be a highly successful commercial financial institution, and this book walks you vividly through that dangerous and exhilarating journey.
Kudos to Acleda Bank, and kudos to Heather Clark for providing us with this story.