Central bank takes breather as it reins in rural lenders
Cambodia’s central bank will temporarily suspend its eight-month campaign to bring informal moneylenders into its fold as it lacks the resources to review the mountain of registration applications it has received and needs time to tweak the licensing requirements, a National Bank of Cambodia (NBC) official said yesterday.
Khieu Bophaphuong, director of the NBC’s licensing department, said the NBC received 285 applications from NGOs and rural credit operators since announcing a registration drive in February aimed at expanding its oversight of unofficial lenders. Of these, 185 applications have been reviewed and the NBC has issued operating licences to 44 rural credit operators. …
Sor Chandara and Cheng Sokhorng
http://www.phnompenhpost.com/business/central-bank-takes-breather-it-reins-rural-lenders
