ABC and CMA Pledge to Strengthen Responsible Lending and Consumer Protection

The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) issued a joint statement on October 21, reaffirming their strong commitment to promoting responsible lending and raising financial literacy. The strategy aims to strengthen consumer protection and complaints-handling mechanisms across Cambodia’s banking and financial sector, particularly in response to public concerns about household debt and borrower protection amid current economic conditions.

To achieve this goal, the two associations have worked closely with the National Bank of Cambodia, member institutions and development partners, introducing a range of key measures. These include implementing a Code of Conduct for the banking and financial sector, establishing lending guidelines, setting standards for transparent loan agreements, and prohibiting the seizure of official identity documents, such as identity cards or family books, as collateral. In addition, the sector has actively promoted training: approximately 48,000 credit officers have received training on responsible lending, while thousands of executives and branch managers have also received training in governance and consumer protection.

At the same time, the two associations established the Financial Consumer Protection Center, an independent organization that provides advice, promotes financial literacy and helps facilitate the resolution of customer complaints. The center operates under a sector-funded framework, with the participation and joint oversight of 30 banking and financial institutions. Looking ahead, the two associations will continue to support loan restructuring for customers facing genuine financial difficulties, helping ease their burden and protect them from the risk of falling into excessive debt.

If customers encounter problems or financial difficulties, the associations encourage them to contact the bank or microfinance institution they use directly, or report the matter to the Financial Consumer Protection Center by calling 015 365 222. Customers may also seek resolution through the National Bank of Cambodia, the National Consumer Protection Committee, or the National Authority for Alternative Dispute Resolution.