Cambodian banks told to seize assets of delinquent borrowers

As Cambodia suffers from the Covid-19 economic fallout, Prime Minister Hun Sen has asked financial institutions to confiscate the property of borrowers who refuse to pay loans.

Hun Sen’s remarks came at a time when Cambodians faced unemployment amid what was called a “crisis” in the country’s US$10 billion microcredit sector.

While the government had moved to help lenders, human rights activists and political opponents said the government had done little to protect borrowers.

In full: https://www.nst.com.my/world/region/2020/07/604987/cambodian-banks-told-seize-assets-delinquent-borrowers

Related Stories

Latest News

The Weekly DispatchA weekly newsletter from The Cambodia Daily delivering news, analysis and opinion to your inbox. Published every Friday at 11:30am. Sign up today.