Phnom Penh: on December 27, 2018, Credit Bureau Cambodia (CBC) held the Luncheon Networking with the media in Cambodia at Rosewood Phnom Penh Hotel to share the information about the operations and contribution of Credit Reporting system in financial sector in Cambodia.
CBC’s CEO, Mr. Oeur Sothearoath, CBC’s management team, and more than 25 people including senior editors and journalists from the media house in Cambodia.
During this special event, Ms. Sisowath Reaksmey, Head of Business Development, presented the background and legal framework of the credit bureau system in Cambodia and its contribution to the financial sector of the kingdom.
In addition, she also informed the participants about the solutions of CBC which helps its members to manage their risks and expand their business. Especially, from 2019 onwards, CBC will do the soft launch of Commercial Credit Reporting system, allowing its members to check the credit report of the companies who applying for commercial loan.
“CBC has been operating more than 6 years in Cambodia, which allows our 157 members to check the consumer credit reports through our reporting system. This system contributes to the risk monitoring and provides rich information to financial institutions to make faster decision, help consumers to be able to access to credit, and contribute to the financial stability of the sector and economy. Seeing such big impact, CBC, its members, and related stakeholders worked very hard in 2018 to develop the commercial credit bureau system.” Said Mr. Oeur Sothearoath, CBC’s CEO.
He continued, “as a result, we proud to announced about the soft launch of Commercial Credit Reporting system effectively from January, 2019, which allows our members to check the company’s credit report.”
Besides service to its members, CBC also allows the public to check their credit report, but it is currently required the public to come to CBC’s office, located at Level 9, Vattanac Capital. With the effort and commitment to serve reliable and transparent service to both members and pubic, CBC sets to launch the “Financial Health Check” through the collaboration with Acleda Bank Plc and AMK Microfinance enable the public to check their personal credit reports at the selected branches of both entities from January 2019. This service is planned to expand the coverage nationwide next year.
(For more information about CBC, please go to https://www.creditbureau.com.kh)
Credit Bureau Cambodia is the leading provider of credit information, analytical solutions, and credit reporting services to banks, microfinance institutions, leasing companies, credit operators and consumers in the Kingdom of Cambodia.
CBC has been operated since March 2012, with a strong support from the National Bank of Cambodia (NBC), the Association of Banks of Cambodia (ABC), the Cambodian Microfinance Association (CMA) and the International Finance Corporation (IFC). CBC promotes greater financial stability by providing accurate real time data to consumers and industry that helps them control the financial aspects of their businesses. It allows businesses to manage credit risk, prevent fraud and automate decision-making. CBC also helps individuals to check their credit report to ensure they have access to loans and finance and to protect themselves against identity theft.
CBC is a joint venture between Credit Bureau Holding Cambodia (represented by the ABC and CMA) and Equifax Cambodia Holding Pte. Limited (ECH) who has significant global footprint operating leading credit bureaus. ECH is a Singapore incorporated company established as a joint venture between Asia Credit Bureau Holdings Pte Ltd (ACB), a Singapore-based company and Equifax company (United States).