Kingdom of Cambodia
Nation Religion King
|National Bank of Cambodia||Unofficial Translated|
TRANSPARENCY ON LOAN GRANTING OF
FINANCE AND BANKING INSTITUTIONS
The Governor of the National Bank of Cambodia
- With reference to the Constitution of the Kingdom of Cambodia;
- With reference to the Royal Kram NS/RKM/0196/27 dated January 26, 1996, promulgating the Law on the Organization and Functioning of the National Bank of Cambodia;
- With reference to the Royal Kram NS/RKM/1206/036 dated December 29,2006, promulgating the Law on the amendment Articles 14 and 57 of the Law on the Organization and Functioning of the National Bank of Cambodia;
- With reference to the Royal Kram NS/RKM/1199/13 dated November 18, 1999, promulgating the Law on Banking and Financial Institutions;
- With reference to the Royal Decree NS/RKT/0508/526 dated May 13, 2008 on the reappointment of His Excellency Chea Chanto as Governor General of the National Bank of Cambodia, equivalent to Seniqr Minister;
- Pursuant to the request from General Banking Supervision Department
- Pursuant to the recommendation made by National Bank of Cambodia Management Meeting on December 26, 2011.
- The purpose of this Prakas is to improve on loan granting of banking and finance institutions with transparency, fairness, reasonable and accountability.
- All banking and finance institutions shall ensure that media broadcasting and language in publication is fairness, apparent, understanding, and make sure that customers shall get clear information about products and services.
- Customers shall obtain clear information about products and services before, during or after loan granted include: loan application, terms and conditions, interest rate, and fee charged which is under customers' obligation as attached herewith the appendix of this Prakas.
- Customers shall get informed in advance about amendment on interest rate, fee and other conditions.
- Customer information shall be kept confidential and all banking and finance institutions shall provide customer with confident and reliable core-banking system and payment system. Confidential customer information keeping shall not apply for customer information providing to credit information system.
- The General Secretariat, the General Technician, the General Inspection, the General Cashier, all departments and units of the National Bank of Cambodia, and banking and finance institutions under the National Bank of Cambodia's supervisory authority shall strictly implement this Prakas.
- This Prakas shall have effect from the signing date.
Phnom Penh, December 27, 2011