NBC Strictly Reinforcing Prakas on Loan Provision Transparency

National Bank of Cambodia (NBC) has been reinforcing strictly the Prakas on Transparency in Granting Credit Facilities of Banks and Financial Institutions.

The stand was highlighted in a recent press release from the bank, adding that any financial institutions found violating the Prakas will be penalised.

The penalty can be as much as 400 million Riel or roughly US$100,000, it underlined.

The reinforcement of this Prakas intends to bring about fairness and transparency in the operation of existing financial institutions so as to effectively contribute to the development of Cambodia.

NBC has also created four hotlines to receive information from clients who have problems with banks and financial institutions, added the press release.

Source: Agency Kampuchea Press