Press release on the prohibition of taking identity card, family record, and residence record as guarantee for provision of credit
On 17 July 2018, the National Bank of Cambodia issued a press release on the prohibition of taking identity card, family record, and residence record as guarantee for provision of credit, following the directive No. B7-016-210 Sor. Chor. Nor, dated 11th March 2016. However, the National Bank of Cambodia has observed that some banks, financial institutions and rural credit operators still fail to fully comply with the above notice. The National Bank of Cambodia would take action against lenders who continue accepting the documents by putting sanctions on them or revoking their licenses to Articles 52 and 56 of the Law on Banking and Financial Institutions.
National Bank of Cambodia
