Cambodia Microfinance Association, NBC Launch Project to Increase Financial Literacy, Consumer Protection
The National Bank of Cambodia (NBC), the country’s central bank, and the Cambodia Microfinance Association (CMA) recently launched a project called Strengthening Safe Finance in Community. The goal is to boost "financial literacy, consumer empowerment, and protection" to "enhance safe and secure use of formal financial services and increase access to these services." The initiative is scheduled to start in the provinces of Kampong Thom, Kampong Speu and Battambang before expanding across the country.
NBC Assistant Governor Rath Sovannorak said, "Public confidence on the formal financial sector is crucial [so] NBC and stakeholders have been putting great efforts in strengthening financial literacy and consumer protection to maintain the stability of the whole banking system and increase financial inclusion in Cambodia."