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Financial Institution Risk Management in Cambodia: A Regulatory Overview

Cambodia’s financial institutions face a complex web of regulations when it comes to risk management. To ensure compliance, they must navigate a range of legal and regulatory requirements issued by the National Bank of Cambodia (NBC). In this environment, Amazon Web Services (AWS) is committed to providing its customers with a strong compliance framework and advanced tools and security measures.

Who Regulates Financial Institutions in Cambodia?

The NBC is responsible for supervising local and foreign banks as well as other financial institutions such as micro-finance institutions and leasing companies. The regulatory body plays a crucial role in ensuring the stability and integrity of Cambodia’s financial system.

Key Regulations Apply to Financial Institutions Using Cloud Services

Financial institutions in Cambodia that use cloud services, including those provided by AWS, are subject to a range of regulations. Key legislation and guidelines include:

• Technology Risk Management Guidelines (2019)
  • Covers contractual and operational areas such as due diligence, risk management, and monitoring and oversight

Key Considerations for Financial Institutions Using AWS

Financial institutions using AWS should consider applicable privacy requirements and ensure compliance with local data protection laws. The company’s whitepaper on “Using AWS in the Context of Common Privacy and Data Protection Considerations” provides useful information to customers storing or processing personal data.

To better understand their compliance needs, financial institutions can take several steps:

• Identify the purpose of their workload(s) and relevant categories of data.
• Assess the criticality of their workloads in light of local requirements and procure necessary approvals or issue appropriate notice.
• Review AWS’ Shared Responsibility Model and map responsibilities for each service used.

Additional Resources Available

For further information, financial institutions can access additional resources through AWS Artifact, including:

• AWS Regulatory Approval Resource for Financial Services in Cambodia
• User Guide for Financial Institutions in Cambodia
• AWS Compliance Quick Reference Guide
• Navigating GDPR Compliance on AWS
• Using AWS in the Context of Common Privacy and Data Protection Considerations

Disclaimer

This document is provided for informational purposes only and does not create any warranties, representations, contractual commitments, conditions or assurances from AWS. The responsibilities and liabilities of AWS to its customers are controlled by AWS agreements, and this document is not part of, nor does it modify, any agreement between AWS and its customers.