Stay up to date with legal developments in Cambodia.
Recently, the National Bank of Cambodia (“NBC”) noticed that there are many active loan providers that are operating without the license and hence, unlawful, and have been advertising themselves as lawful loan providers through different forms of media such as social media, leaflet and text messages. As a result, many have become victims of these unlawful loan providers.
On 29 June 2018, NBC issued Announcement No. B17-018-007 P.A to spread awareness to the public about unlawful loans, by pointing out the disadvantages of seeking financial support from unregulated loan providers.
On 21 February 2018, the Ministry of Labour and Vocational Training issued Prakas No. 084/18 to set the 20th of May every year as a new Public Holiday, called the National Day of Remembrance.
On 19 February 2018, the Ministry of Interior and the Ministry of Labour and Vocational Training issued Inter-Ministerial Prakas No. 719 on Strengthening of Labour Inspection on the Use of Foreign Labour in Cambodia.