Stay up to date with legal developments in Cambodia.
On 20 August 2018, the Ministry of Labour and Vocational Training (“MLVT”) issued Notification No. 028/18 (“Notification”) informing enterprises which are employing foreign employees in 2019 to apply for foreign employees usage quota approval from 1 September 2018 to 30 November 2018. The Notification also requires enterprises that currently employ foreign employees to apply for the renewal of the latter’s respective work permits. The application period is from 1 January 2019 to 31 March 2019.
The National Bank of Cambodia has noticed there are banks, financial institutions and rural credit operators that are still accepting ID cards, family books and/or residential books as collaterals for granting loans. Notification No. B7-018-008 N.I on Prohibition of Accepting Identification Card or Family Book and Residential Book as Securities for Granting Loan dated 17 July 2018 was issued to serve as a reminder to these institutions of the sanctions of such unlawful practice.
On 25 April 2018, the Ministry of Labour and Vocational Training issued a Prakas to amend certain articles of a Prakas issued in 2016 regarding health benefits.