The National Bank of Cambodia (NBC) recently received a USD 10 million loan from the Asian Development Bank (ADB) in order to stregthen the legal and regulatory environment surrounding the country’s financial sector. Samiuela Tukuafu, a Senior Financial Sector Specialist with the ADB, states that the funds will be used to “improve the legal and regulatory environment, to boost sector capacity, to improve disclosure standards and financial transparency, and to build up infrastructure.” In part, the reforms target the development of the microfinance sector by permitting microfinance institutions to take deposits from the public and receive credit from domestic commercial banks. However, the reforms go beyond the microfinance sector with additional reforms targeting the development of bank supervision capacity and the establishment a commercial dispute resolution mechanism.
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