MOC pushes for standardization of leasing sector regulations

The Ministry of Commerce (MOC) is pushing for leasing sector regulations to be internationally standardized to boost business activities domestically and internationally. It is asking an inter-ministries group—including the Ministry of Justice, National Bank of Cambodia, and MOC—and relevant parties, to standardize the regulations as soon as possible in order to drive efficiency to grow the sector, according to ministry spokesperson Soeun Sophary. She said the regulations would cover the diversified business activities in Cambodia, adding that they will be used to solve conflicts or hand out punishments in the sector. According to the NBC, by the end of 2016 there were 12 financial leasing companies in Cambodia with total assets of about $156mn. (Source: Khmer Times)