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Cambodia’s Ministry of Inside has issued a warning towards using nationwide identification playing cards as collateral for loans because it violates the rules of the Nationwide Financial institution of Cambodia (NBC).
Monetary establishments or mortgage operators violating the rule might be punished in accordance with the regulation, a press launch by the Ministry of Info, stated just lately.
In accordance with the announcement on Friday, Sar Kheng, Deputy Prime Minister and Minister of Inside, signed the order banning using identification playing cards for availing loans after it was discovered that a number of mortgage operators each within the formal and casual sectors, pawnshops or shopper items shops did not adjust to the rules of NBC.
Sar Kheng defined that the nationwide identification card is an official doc confirming the identification of Cambodian citizenship, and supplied to folks to guard their rights and in addition to assist them undertake their obligations as residents.
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