CARD Myanmar COMPANY LIMITED
In 2006, the Center for Agriculture and Rural Development (CARD), Inc. (A Microfinance NGO) a member of CARD MRI (Center for Agriculture and Rural Development Mutually Reinforcing Institutions) in the Philippines started its first international office in Cambodia. Three years after, in 2009, the CARD MRI International Group (CARD MRI-IG) was set-up and started working with partners in other Asian Countries.
In December 2013, in response to the needs for microfinance services in the Republic of the Union of Myanmar, CARD Myanmar COMPANY LIMITED, [CARD Myanmar for brevity], was officially registered and incorporated under the Myanmar Companies Act through the Directorate of Investment Company Administration (DICA). It was granted to provide three (3) major services: Microfinance, Capacity Building and Technical Assistance.
Its microfinance operations were registered in the Ministry of Planning & Finance - Finance Regulatory Department of which initially a temporary license was issued dated August 8, 2014, and after 1 year and 3 months a permanent license was issued last November 5, 2015, as a deposit taking microfinance institution.
CARD Myanmar COMPANY LIMITED is solely owned by the Center for Agriculture and Rural Development (CARD), Inc.(A Microfinance NGO) member of CARD MRI (Center for Agriculture and Rural Development Mutually Reinforcing Institutions) in the Philippines. Part of its operations are funded by grants from its partner the German Savings Banks Foundation (SBFIC) and loan fund from the Catholic Organization for Relief and Development Aid (CORDAID).