Customer Reviews

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

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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.

"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.