Home > Laws, Money & Banking, Videos > Cambodia National Banking Laws

Cambodia National Banking Laws


(last updated May 13th, 2010)

Law on Anti-Money Laundering and Combating Financing of Terrorism
Banking Code
Law on Amendment Article 14 and Article 57 of the Law on the Organization and Function of the National Bank of Cambodia
Law on the Organization & Conduct of National Bank of Cambodia
Law on Banking and Financial Institution
Law on Negotiable Instrument & Payment Trasaction
Law on Foreign Exchange
Prakas

According to the Law on the Organization and Conduct of the National Bank of Cambodia made on January 26, 1996, the National Bank of Cambodia (NBC) is the “Central Bank” which is an autonomous public entity of a commercial and industrial nature.  The Central Bank’s Head Office is situated in Phnom Penh Capital of the Kingdom of Cambodia. The Central Bank may establish branches and agencies throughout the country and also set up representative offices in other countries after obtaining the approval of its Board of Directors.

Under the article 7 of the Bank Law, the Central Bank shall have the following functions and duties:

  1. To determine monetary policy objectives, in consultation with the Royal Government and consideration of the framework of the economic and financial policy of the Kingdom
  2. To formulate, implement and monitor monetary and exchange policies aimed at the determined objectives
  3. To conduct regular economic and monetary analysis, make public the results, and submit proposals and measures to the Royal Government
  4. To license, delicence, regulate and supervise banks and financial institutions and other relevant establishments such as auditors and liquidators
  5. To oversee payments systems in the Kingdom, and to enhance interbank payments
  6. To act as the sole issuer of national currency of the Kingdom
  7. To undertake and perform, in the name of the Kingdom, transactions resulting from the participation of the Kingdom in public international institutions in the banking, credit, and monetary spheres
  8. To establish the balance of payments
  9. To participate in the management of external debt and claims
  10. To participate in the formation and supervision of the money and financial markets
  11. To licence, delicence, regulate and supervise all those operating in the securities and foreign exchange markets, the market for precious stones and precious metals
  12. To set interest rates.

At the present time, Cambodia’s banking sector is playing an important role in contributing to the economic development. As a result, in recent years the banking and financial sector have developed rapidly. It shows that there is the increase in the public confidence in Cambodia’s banking and financial sectors.

News Facts (http://www.oracle.com/us/corporate/press/071959)

The National Bank of Cambodia, the central bank in charge of implementing the Kingdom of Cambodia’s monetary policies, has gone live with Oracle® FLEXCUBE Universal Banking as its core banking platform. The Central Bank had signed an agreement to implement Oracle FLEXCUBE in February 2009.
National Bank of Cambodia’s implementation of a new, integrated core banking system is a critical component of the development program and has the ongoing support of the Asian Development Bank.
Oracle FLEXCUBE will help automate the National Bank of Cambodia’s business processes, including deposits, loans, foreign exchange, money markets, securities, funds transfer and asset management.
National Bank of Cambodia will also take advantage of Oracle FLEXCUBE’s proven transaction-processing capabilities and process framework to help standardize operations and incorporate industry best practices across its operations.

Related posts:

Sources:

National Bank of Cambodia http://www.nbc.org.kh/legislations.asp
Khmerian. The Central Bank’s general functions and duties Cambodia’s Banking Sector

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Schedule a Visit: The Bank provides presentations to teachers and students (at all stages of learning) on a variety of subjects, including: the role of the Bank, general economic conditions, and Australian banknote production and security features.

Using and Understanding Statistical Information: Resources that might be useful in understanding key economic data and using statistics.

RBA Economics Competition: The Reserve Bank of Australia sponsors an essay competition each year for undergraduates studying economics at any accredited university in Australia. The competition is run by the Bank in conjunction with the UNSW Economics Society.

Resources: Multimedia resources and external links to Internet sites of interest to teachers and students of economics and finance.

Sources:

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The RBA and you.

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