PHNOM PENH, March 16 (Xinhua) -- Cambodia's financial sector remained resilient and liquid, despite a few bank closures and service disruptions, the Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) said in a joint statement on Monday.
The kingdom's financial sector is subject to close supervision by the National Bank of Cambodia (NBC), known as the central bank, with key prudential indicators remaining above minimum regulatory requirements, the statement said.
"Recent speculation and misinformation regarding the condition of certain banks do not reflect the overall strength of the sector," the statement said, adding that the ABC and the CMA emphasize that a temporary operational disruption at an individual institution should not be interpreted as a reflection of the condition of the wider financial system.
The statement said Cambodia's financial sector continues to be supported by strong prudential regulation, ongoing supervision, and liquidity safeguards.
The statement came after two commercial banks had been closed since the start of the year and recent service disruptions at the Asia-Pacific Development (APD) Bank, prompting scores of customers to gather at its head office in Phnom Penh to withdraw money.
APD Bank's chairman Vong Pech said in a statement on Monday evening that APD Bank continued to operate in full compliance with the NBC's regulations and supervision.
"Our management team and staff are working closely together to ensure the stability, security, and continuity of our banking services," he said. "Recent service disruptions were related to scheduled system maintenance, and our teams are diligently working to gradually restore all services to normal operation." Enditem
京公网安备 11010802027341号