08 June 2021
Singapore - Singapore Management University (SMU) recently completed a case study on Hayman Microfinance’s (Hayman) Corporate Social Responsibility (CSR) activities in Myanmar. A group of teachers led by Professor Heli Wang and Sheetal Mittal have studied Hayman's entrepreneurial journey and social impact since its inception in 2015. The case focuses on examining the CSR program to help determine if microfinance institutions need to conduct CSR activities, while the nature of such institutions is already largely socially oriented and the impact that MFIs have is to help low-income families develop their small businesses, which ultimately improves their lives. In addition, the study aims to determine how CSR activities can be quantified and qualitatively evaluated from a financial point of view. And the final key point is to challenge CSR policy as a key element of Hayman's strategy, which might help strengthen the company's value proposition for potential investors.
Commenting on the case study, Sultan Marenov, Chairman and MD of Hayman Microfinance said “Its an honor that Singapore Management University has written a case study for its students based on Hayman Microfinance's CSR activities in Myanmar. I hope that the efforts of our team will be studied in detail from different angles and in the future this would help to improve approaches to CSR and the development of microfinance business in general.
Despite all the challenges since last year, Hayman Microfinance and its shareholders are fully committed to continuing to support the people of Myanmar, especially those living in rural and remote areas, to improve their income and quality of life, both through the provision of financial services and its CSR activities."
In 2020, Hayman Microfinance donated Food and Medical Supplies to the Quarantine Centers across Myanmar. Along with CSR efforts aimed at the country's health issues, Hayman had also kept its continuous course of donations toward the country’s Education system with infrastructure donations to under-privileged public schools. Hayman Microfinance’s CSR portfolio which amounted to over 30 million MMK helped provide Educational Facilities to more than 300 rural students in Myanmar during the last 6 years. Hayman’s Vocational Training Programme has also enabled more than 100 people from the rural population with minimal access to vocational education to start their own small businesses.
The SMU’s case study helped Hayman's team to focus on identifying the qualitative impact of corporate social responsibility performance, improving it and to align with the strategic perspective of Hayman's shareholders.
Hayman Microfinance is a 100%-owned subsidiary of a Singapore-based international investment company – Hayman Capital Pte. Ltd. Hayman Microfinance’s vision is to become a leading financial institution in Myanmar serving millions of customers through a wide network of branches and its mission is to play a key role in improving living standards and wellbeing of our customers by building long-term partnership and providing mutually beneficial and affordable financial services. Hayman’s core values include respect and trust, honesty, responsibility, innovation and creativity, teamwork and cooperation.
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Nyan Lin Tun