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Banks in Cambodia Receive Critical Compliance Training from National Bank

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The National Bank of Cambodia recently organized a two-day training session for deposit-taking institutions to ensure compliance with new regulations. The training focused on two key Prakas: i/-Prakas on Regulatory Capital in Deposit-taking Banks and Financial Institutions and ii/-Prakas on Credit Risk for Capital Adequacy Ratios in Deposit-taking Banks and Financial Institutions.

Strengthening the Financial Sector

The Prakas aim to strengthen the financial sector by ensuring that banks have sufficient capital to withstand risks. The training session was presided over by Mr. Em Kamnan, Deputy Director General of Banking Supervision at the National Bank of Cambodia.

Participants and Future Plans

The training was attended by 70 participants from eight deposit-taking institutions, marking the first group of institutions to receive this critical training. The National Bank of Cambodia has announced plans to continue organizing such sessions for other institutions in the coming months.

Preparing for New Regulations

With implementation of the Prakas set to begin in January 2024, the training session aimed to provide detailed explanations and guidance to participating institutions on how to prepare for the new regulations. The move is seen as a crucial step towards strengthening financial stability in Cambodia and ensuring that banks are equipped to navigate the increasingly complex regulatory landscape.

Key Takeaways

• The Prakas aim to strengthen the financial sector by ensuring that banks have sufficient capital to withstand risks
• 70 participants from eight deposit-taking institutions attended the training session
• Future sessions will be organized for other institutions in the coming months
• Implementation of the Prakas is set to begin in January 2024