Working together on
microfinance and microinsurance
microfinance and microinsurance
“I believe in AMC. And I believe in El Salvador. We can work and live in this country.”
BRS has been working with the Salvadorian microfinancing institution AMC for several years. Director-General Juan Luis Moreno is very satisfied with the coaching and advice provided by BRS, which among other things played a crucial role in the major transformation his organisation has undergone in recent years.
Juan Luis: “My parents had a small grocery shop, a ‘pulperia’. When we were children, we helped out, and that’s how I learned how a micro-enterprise works. In this sense, my background has prepared me well for a job in the microfinancing sector. Building a relationship with customers, understanding their needs, motivating them, and so on. That was my cup of tea right from the start. When I got to know AMC, it clicked immediately.”
“AMC originated under the auspices of Adel Morazan, a foundation set up after the end of the civil war in 1992. The foundation provides training for small-scale entrepreneurs in rural areas in the east of the country. While Adel Morazan focuses on social activities, AMC provides financial services. Devoting attention to social aspects. We carefully analyse our customers’ situation so that we can offer the most suitable product, with a feasible repayment period and the lowest possible debt. Moreover, in cooperation with Adel Morazan, we offer them training and guidance too.”
“2016 was a year of major challenges for AMC. We are very happy that we did them all well with a great result. In the past year, we have not only grown, but also become more profitable. This is important for the health and sustainability of our institution. And it allows us to free up resources for Adel Morazan so that the foundation can fulfil its social mission even more effectively.”
“We have also succeeded in improving the efficiency of our operations, including in the areas of internal control and audit, risk management and market analysis. And in cooperation with Trias and Adel Morazan, we launched new products: a solidarity group loan for women and a loan product for young entrepreneurs. More than 2,000 of the former have already been sold, while the latter will soon be introduced to the market.”
“The launch of a number of service points was very important in 2016. They complement our network of agencies. These are terminals, placed in shops in remote areas. These terminals allow customers to deposit and withdraw money closer to home. These service points already account for 12% of all our transactions.”
“BRS employees and volunteers made an important contribution to these developments. They provided us with concepts, tools and working methods. Now it is up to us to turn that support into concrete achievements. And that’s happening: AMC is thriving.”
“We will also be counting on the know-how and experience of BRS and KBC in the coming years. And over time, we hope that our relationship with them translates into a financial investment. Because we want to continue our work and improve it even more. I believe in AMC. And I believe in El Salvador. We can work and live in this country.”
