Logo of Phnom Penh Post newspaper Phnom Penh Post - Banking error

Banking error

Banking error

Dear Sir,
I was recently interviewed by one of your reporters and misquoted. I did not say that I had seen people coming into the bank with gold. I fact, to the best of my knowledge this has never happened.

What did I say is that, in the absence of security arrangements available in other countries such as mortgages, liens, etc we have discussed internally the possibility of lending against gold physically deposited in our vault. We have not done this type of business to date, nor have we even decided to do so as a policy matter.

I would appreciate your publishing this letter for the record.

- Michael C. Stephen, Cambodia Mekong Bank, Phnom Penh

MOST VIEWED

  • Prince injured, wife dies after accident

    THE wife of former First Prime Minister Prince Norodom Ranariddh, Ouk Phalla, 39, died while the prince was “severely” injured following a road accident in Preah Sihanouk province’s Prey Nub district on Sunday morning, officials said. Rananriddh, who is also the president of the Funcinpec

  • Bun Heang mocks US, threatens its citizens in scathing open letter

    After being hit with sanctions from the US Department of Treasury, Cambodian General Hing Bun Heang said he would retaliate against any US national who does not respect his country’s sovereignty, has ambitions to invade Cambodia or incites “traitors” in the Kingdom to do

  • Police warn boycott FB group involved in the “Clean Fingers Campaign”

    Police said on Tuesday that they will pick up members of a Facebook group involved in the “Clean Fingers Campaign” that promotes a boycott of next month’s national elections. However, police merely planned to “educate” the group for now, but warned that if the

  • Ranariddh 'seriously injured', his wife dies in accident in Preah Sihanouk

    THE wife of former first prime minister Prince Norodom Ranariddh has died. Ouk Phalla succumbed to injuries sustained in a traffic accident on National Road 4 in Preah Sihanouk’s Prey Nub district this morning. She and the prince were immediately rushed to the Preah Sihanouk