A Conference on Modernization of Bank and Microfinance Industry of Cambodia

A two-day (Jan. 26-27) Conference on Modernization of Bank and Microfinance Industry of Cambodia was opened here yesterday by the National Bank of Cambodia.

In her opening remarks, H.E. Madame Tal Nay Im, Director General of the National Bank of Cambodia said Cambodia’s is in a good shape, comprising of the National Bank of Cambodia that act as a central bank of the country, 27 commercial banks, 2 foreign banks representative offices, 6 specialized banks, 20 licensed microfinance institutions and 26 registered microfinance operators which are under the regulatory and supervisory authority of the National Bank of Cambodia.

Most of the recent performance indicators suggest that the banking system is reasonably profitable, efficient, has adequate liquidity, and is well capitalized. On average bank have to maintain overall solvency at above 25% (33.5% in Nov. 2009) compared to the minimum prudential requirement of 15%.

She added that to enhance and build an affective and progressive banking and finance business environment, modernization banking service by using Information and Communication Technology (ICT) are necessary.