The Credit Bureau Cambodia (CBC) was officially launched in Phnom Penh on March 19, 2012.  It is a joint venture between Veda Advantage, Australia, the Cambodian Microfinance Association and the Association of Banks in Cambodia.  The aim is to centralize loan information from Cambodia’s banks and microfinance institutions (MFIs).  The bureau expects to benefit borrowers with faster processing times, lower interest rates for those with positive credit histories and protection from over-indebtedness.  The credit bureau processes positive and negative data on individuals and businesses.

The shareholder structure is as follows:  Association of Banks 30%, Cambodian Micro Finance Association 10%, ACLEDA Bank 5%, Union Commercial Bank 5%, First Commercial Bank 1%; Veda Advantage 49%.

Apart from serving the financial services sector the CBC has announced that credit information is to be used in Cambodia’s Telecommunications Sector.