Phnom Penh (FN), August 18 - The National Bank of Cambodia has warned Microfinancers that they could face a penalty of up to $100,000 if found to be operating outside the law and regulations regarding transparency of the delivery of banking and credit services.

The warning is aimed to provide protection for customers.

The National Bank of Cambodia has also established four complaint hotlines for customers who encounter problems with banking and financial institutions and to ensure that banking and financial institutions are cooperating with the law.

The National Bank of Cambodia has reiterated that all banks, microfinancial institutions, financial leasing companies, and all rural credit operators are private companies, not state-owned.
=FRESH NEWS