After a lengthy planning process that began in 2008, the Cambodian Credit Bureau (CCB) was officially launched in Phnom Penh on March 19, 2012. The joint venture between Veda Advantage, a private company providing data analytics and risk management tools from offices in Australia and New Zealand the Cambodian Microfinance Association and the Association of Banks in Cambodia, aims to centralize loan information from Cambodia’s banks and microfinance institutions (MFIs). The bureau expects to benefit borrowers with faster processing times, lower interest rates for those with positive credit histories and protection from over-indebtedness.
By Amira Berrada, Research Associate
About Association of Banks in Cambodia (ABC): The Association of Banks in Cambodia (ABC) was formed in 1994 to represent Cambodia’s private banking sector. According to its website, as of May 26, 2011, ABC’s membership includes 29 commercial banks, 7 specialized banks and the 16 members of the Cambodia Microfinance Association (CMA).
About Cambodian Microfinance Association (CMA): Cambodia Microfinance Association (CMA) was established in 2004 by seven Cambodian microfinance institutions: Amret Company Private Limited (formerly EMT), Hattha Kaksekar Limited (HKL), Seilanithih, VisionFund Credo Foundation, Sathapana Limited, Prasac (formerly PCA), and Maxima. CMA’s mission is “to facilitate microfinance operators in their operations and to strengthen their communications with authorities, national and international donors, creditors and investors. As of March 2012, there are 28 active members.
About Veda Advantage: Veda Advantage is a private company that provides business solutions, data analytics and risk management tools for individuals and companies. Veda Advantage was established in New Zealand in 1967 and today specializes in credit-related services, focusing specifically on the development of credit bureaus. Through its international division, Veda Advantage has supported the establishment of credit bureaus in Cambodia, Saudi Arabia, Singapore, Malaysia and New Zealand. Financial information on Veda Advantage is not currently available on their website.
Sources and Resources:
[1] http://www.phnompenhpost.com/index.php/2012032155150/Business/much-delay…
MicroCapital.org article, February 2, 2012, “MICROCAPITAL BRIEF: Credit Bureau Cambodia Launched to Facilitate Information Sharing among Banks, Microfinance Institutions” https://www.microcapital.org/microcapital-brief-credit-bureau-cambodia-la…
MicroCapital.org story, May 10, 2011, “MICROCAPITAL BRIEF: National Bank of Cambodia (NBC), Supported by International Finance Corporation (IFC), Targets Multiple Borrowing by Microfinance Clients, Expects to Launch National Credit Bureau in 2011,” https://www.microcapital.org/microcapital-brief-national-bank-of-cambodia…
MicroCapital.org story, October 27, 2008, “MICROCAPITAL BRIEF: Cambodian Credit Bureau to Be Launched for Regulating Banking and Microfinance,” https://www.microcapital.org/microcapital-storycambodian-credit-bureau-to…
MicroCapital Universe Profile for Cambodia Microfinance Association: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Cam…
MicroCapital Universe Profile for Association of Banks in Cambodia: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ass…
MicroCapital Universe Profile for Veda Advantage: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Veda+Advantage
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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