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

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