PHNOM PENH: A new social welfare program for persons with disabilities (PWDs) was officially launched to help vulnerable populations achieve financial literacy through entrepreneurship training. On November 24, Maybank Executive Director Izlyn Ramli signed a Memorandum of Understanding with Sec. of State Em Chan Makara, who was representing Minister of Social Affairs Chea Somethy. The memorandum officially launched a pilot version of Maybank’s RISE (Reach Independence and Sustainable Entrepreneurship) Program in Cambodia to help people achieve financial independence and sustainability.

Deputy Governor of the National Bank of Cambodia, Ouk Mali, said that the memorandum promised additional assistance to Cambodia on projects that the bank has already established in the country. "The signing of the MoU is another new social program to help increase income for vulnerable communities, focusing on individuals with disabilities through entrepreneurship training," she said. “On behalf of the National Bank of Cambodia and myself, I would like to thank and encourage the shareholders and the management of the bank to continue to help the community.”

Maybank’s RISE Programme (Reach Independence and Sustainable Entrepreneurship) is designed to provide real and tangible support for disadvantaged communities, with a special focus on persons with disabilities (PWDs). It guides people towards financial independence through education, training and a self-discovery process that enables participants to identify their skills, talents, and passions and prepare them for their future business endeavors so that they can become role models and leaders within their own communities.

So far, the program has provided entrepreneurship training to 30,457 participants, of which 25,041 were people with disabilities. On average, participants received an increase of 280.79% in revenue after completing the program. Cambodia is the fifth country to host the program following Laos, Malaysia, Indonesia and the Philippines. The pilot program launches this month to 160 participants in Meanchey and Russey Keo, two of Phnom Penh’s most impoverished districts. If successful, Maybank hopes to expand the program to other parts of the country.

Maybank plans to partner with relevant institutions and ministries towards a shared goal of strengthening the program to be most effective for Cambodia. The Ministry of Social Affairs has declared helping PWDs rise out of poverty and attain equal rights as a priority and is eager to work with Maybank.