Best Banking & Finance Lawyers in Cambodia

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CACC LAW OFFICE

CACC LAW OFFICE

Phnom Penh, Cambodia

Founded in 2019
8 people in their team
About UsCACC Law Firm: Built on Passion and ExperienceOver 12 years ago, one lawyer with a big heart and a love for property and business law started...
English
Tip & Partners Law Firm

Tip & Partners Law Firm

Phnom Penh, Cambodia

Free Consultation: 30 mins


Founded in 1995
10 people in their team
Tip & Partners is one of Cambodia’s leading independent law firm. The firm provides a comprehensive range of legal services to serve the...
English
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BNG Legal

BNG Legal

Phnom Penh, Cambodia

Founded in 2002
20 people in their team
We differentiate ourselves by coupling a deep understanding of the local business environment with international professionalism and integrity.We...
English
Chinese
IAO Asia

IAO Asia

Phnom Penh, Cambodia

Free Consultation: 15 mins


Founded in 2021
10 people in their team
IAO is an international legal and investment firm supporting international investment to the Kingdom of Cambodia.  Our services include...
English
Khmer
Chinese
Davies SM Attorneys-at-Law

Davies SM Attorneys-at-Law

Phnom Penh, Cambodia

Founded in 2022
10 people in their team
ABOUT OUR FIRMAt Davies SM Attorneys-at-Law, we are committed to delivering high-quality, affordable legal services.Registered with the Bar...
English
Chinese
Khmer
MPL LAW OFFICE

MPL LAW OFFICE

Phnom Penh, Cambodia

Founded in 2020
9 people in their team
MPL Law Office ("MPL Law") is the licensed legal office respectively in Kingdom of Cambodia providing legal services to the client. We have provided...
English
Khmer
Husky and Partners Law Firm

Husky and Partners Law Firm

Phnom Penh, Cambodia

Founded in 2018
9 people in their team
Husky & Partners Law Firm is a full service professional advisory firm established by experienced lawyers who know well Cambodian emerging...
English
Chinese
Khmer

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About Banking & Finance Law in Cambodia

In Cambodia, the Banking and Finance sector is governed by a system of laws set out and regulated by the National Bank of Cambodia (NBC) and Securities and Exchange Commission of Cambodia (SECC). These laws and regulations help in structuring and controlling all forms of financial activities such as banking, insurance, microfinance, leasing, and securities. The legal framework in place is being continuously updated to provide a conducive environment for businesses and investors while protecting the rights of consumers.

Why You May Need a Lawyer

Navigating the complexities of the Banking and Finance law can be daunting especially in a dynamic regulatory environment like Cambodia. Reasons you may need a lawyer include drafting and negotiating contracts, resolving disputes with banks or financial institutions, compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, setting up a new banking or financial institution, and dealing with bankruptcy or insolvency matters. Also, businesses and individuals may need legal help to understand the tax implications, property rights and laws applicable in case of investment or cross-border transactions.

Local Laws Overview

The primary laws governing Banking & Finance in Cambodia are the Law on Banking and Financial Institutions (1999), the Law on Commercial Enterprises (2005), the Law on Insolvency (2007), and the Law on Anti-Money Laundering and Combating the Financing of Terrorism (2007). Other relevant laws include the Law on Microfinance Institutions (2007), the Law on Foreign Exchange (2007), and the recent Law on Payment Services (2019). All these laws ensure the transparency, competitiveness, and overall stability of Cambodia's financial sectors.

Frequently Asked Questions

1. What is the role of the National Bank of Cambodia?

The National Bank of Cambodia is the central bank in the country, providing monetary policy and regulation, managing the country's foreign reserves, and licensing, regulating, and supervising all banks and financial institutions in Cambodia.

2. Is foreign investment in the banking sector allowed?

Yes, foreign financiers and investors are welcomed and even encouraged under Cambodian law, subject to meeting licensing requirements and approval from the National Bank of Cambodia.

3. What laws regulate Anti-Money Laundering and Terrorism Financing?

The Law on Anti-Money Laundering and Combating the Financing of Terrorism (2007) is the primary law that deals with these issues.

4. Are there banking confidentiality laws in Cambodia?

Yes, Article 58 of the Law on Banking and Financial Institutions provides strict confidentiality provisions for customer information held by banks or financial institutions.

5. What laws protect customers against fraudulent practices?

The NBC has issued various prakas (regulations) that provide measures and penalties against fraudulent practices such as the Prakas on Banking Services Fees (2009).

6. Is there a law that controls interest rates?

The NBC directs the ceiling and floor interest rates, as per the prevailing regulatory and economic conditions.

7. What is the regulatory procedure for setting up a new banking or financial institution?

Setting up a banking or financial institution requires approval and licensing from the NBC, with a stringent review of the business plan, financial soundness, management qualifications, and other aspects.

8. What are the insolvency laws in Cambodia?

The Law on Insolvency and other supplementary regulations govern insolvency and rehabilitation procedures for businesses facing financial difficulties.

9. What laws control the issuance and trading of securities?

The Law on the Issuance and Trading of Non-Government Securities (2007) and its accompanying regulations govern securities trading in Cambodia and is under the supervision of the Securities and Exchange Commission of Cambodia.

10. Can foreigners own land as part of their investments in Cambodia?

While the Cambodian constitution limits land ownership to Cambodian nationals, foreign investors can obtain control of land through long-term leases, economic land concessions, or via Cambodian registered companies subject to statutory restrictions on share capital.

Additional Resources

The National Bank of Cambodia (NBC) and the Securities and Exchange Commission of Cambodia (SECC) are the primary government regulatory bodies for the banking and finance sector. Other resources include local and international law firms specializing in Cambodian Banking & Finance law, industry associations like the Association of Banks in Cambodia, and the Cambodia Investment Board for information on investment laws.

Next Steps

If you require legal assistance in the sector of Banking & Finance in Cambodia, it is advisable to consult a lawyer or a law firm specializing in Cambodian financial law for advice and representation. They will guide you on the necessary compliance and regulatory requirements, help you deal with contracts or disputes, and advise you on issues of investment, banking, or finance.

Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.