Cambodia central bank to tighten disclosure rules
The National Bank of Cambodia (NBC) will carry out more reforms to strengthen the disclosure rules for banks for the sake of financial safety, Chinese news agency Xinhua quoted local media as reporting Monday.
"The next areas of reform will encompass enhancing corporate governance and disclosure rules for banks," said NBC governor Chea Chanto in an interview published by English-language daily newspaper the Phnom Penh Post.
Concrete steps will include improvement of credit information sharing system and establishment of national payment and settlement system, he said.
"We are making a constant effort to ensure the regulatory process does not get too far behind the market," he added.
NBC was established in 1980 as the central bank of the country to serve as monetary authority and supervisory organization over commercial banks.
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