Logo of Phnom Penh Post newspaper Phnom Penh Post - Credit bureau launches after delays

Credit bureau launches after delays

Credit bureau launches after delays

The Credit Bureau of Cambodia officially commenced operations at its Phnom Penh headquarters on Monday, according to CBC spokesman Steve Vaile, almost four years from when the idea for the bureau was first conceived.

The CBC, a joint venture between Australia and New Zealand-based Vida Advantage, the Cambodia Microfinance Association and Association of Banks in Cambodia, aims to centralise loan information from the Kingdom’s banks and microfinance institutions in order to allow for better lending facilitation in the country.

Lenders will have easier access to the loan records of potential debtors, which causes a “reduction in finance sector loan rates because they have more information”, Vaile said.

“Foreign direct investment increases as there is more transparency in the sector,” he added.

MOST VIEWED

  • Government hits back at threats to pull EBA, suspend UN seat

    The spokesman for the ruling Cambodian People’s Party (CPP) has said the government is in no way concerned after the European Parliament gave it three months to reverse what it called the “systematic repression of the political opposition”. Ignoring the ultimatum could mean facing

  • Chinese influx pushing locals, Westerners out of Preah Sihanouk

    Some within the Kingdom’s tourism industry have speculated that the recent influx of Chinese visitors may hinder domestic tourism as the price of accommodations in the coastal city of Sihanoukville continues to rise. Preah Sihanouk province, which has become a hotbed for Chinese investment

  • Sar Kheng: Sokha requested security

    Interior Minister Sar Kheng on Sunday revealed the story behind the transfer of former opposition party leader Kem Sokha from Trapaing Phlong prison in Tbong Khmum province to his house in the capital. Speaking at the ruling Cambodian People’s Party (CPP) headquarters in Prey

  • ‘Dire consequences’ from sanctions, warns AmCham

    American businesspeople in Cambodia have warned that any sanction against the Kingdom would have “dire consequences” that could push Cambodia even further into the arms of China. In a letter to US senators and representatives dated Monday, the American Chamber of Commerce Cambodia (AmCham) said