The Ministry of Economy and Finance (MEF) recently listed a government bond equivalent worth about $10.2 million on Cambodia Securities Exchange (CSX) without the requirement for getting approval from the Securities and Exchange Regulator of Cambodia (SERC) as per applicable laws and regulations, according to senior officials in the industry. MEF listed the 41,800 certificates of the government bond issued out of 1 million units through the first auction proceeded early this month and participated in by eight banking and financial institutions who all got success in the auction at 2.2% yield to maturity, according to an announcement released by the stock exchange. The National Bank of Cambodia had announced that MEF had planned to borrow $24.57 million from investors through the first auction. Sou Socheat, General Director of SERC, said yesterday that the law on government bonds stipulates that MEF, not SERC, has a role to issue and list government bonds on the stock exchange, but SERC could intervene in the secondary market where the government bonds can be traded after they were issued or sold in the prime market. (Source: Khmer Times)