Login Register

Logo of Phnom Penh Post newspaper Phnom Penh Post - Rural lenders lose licences from NBC

Rural lenders lose licences from NBC

| Publication date 22 June 2018 | 10:12 ICT

Rural lenders lose licences from NBC

The National Bank of Cambodia (NBC) has rejected the registration requests of 12 rural private lenders and revoked the licences of 11 others, according to a statement on Wednesday.

Claiming the message was meant to keep the public in the loop, the NBC said the rejections were due to lenders not meeting institutional requirements.

Kea Borann, CEO of AMK Microfinance Institution Plc, and a director at Cambodia Microfinance Association, said on Thursday his organisation supported the NBC’s move as it would help strengthen the country’s finance sector.

“The NBC is doing the right thing based on rules and regulations. I believe these institutions cannot meet the requirements set by the National Bank and this measure will make the financial sector in Cambodia even more robust,” he said.

Contact author: Hin Pisei

MOST VIEWED

  • Joy as Koh Ker Temple registered by UNESCO

    Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • Cambodian diaspora laud Manet’s UN Assembly visit

    Members of the Cambodian diaspora are rallying in support of Prime Minister Hun Manet’s forthcoming visit to the 78th UN General Assembly (UNGA 78) in the US’ New York City this week. Their move is an apparent response to a recent call by self-exiled former

  • After three deferrals, Capital Gains Tax to take effect Jan 1, 2024

    The General Department of Taxation (GDT) will implement the Capital Gains Tax starting January 1, 2024 to after being deferred three times as industrial players warn that the implementation might have some negative impact on the property market growth, which is down due to the economic downturn.

Related articles