Insights
New Regulatory Framework for Wastewater Treatment Facilities in Cambodia
Cambodia’s liquid waste management, especially in Phnom Penh, has been overlooked and neglected for decades. Such mismanagement resulted in serious negative impacts on the country. The most pressing challenge is related to the country’s drainage systems, wastewater...
Provisional Attachment under the Cambodian Code of Civil Procedure 2006
Provisional attachment is one of the three preventive measures of the preservative disposition systems[1] provided for by the Cambodian Code of Civil Procedure (2006, the “CCP”) and allows creditors who have monetary claims against debtors to secure against the risk...
Secured Transactions: Exercising the Rights of Parties
Secured transaction framework is mainly regulated by the Law on Secured Transactions promulgated in 2017 (“LST”). The Ministry of Commerce (“MoC”) is the competent institution to administer the implementation of the LST. On 23 October 2023, the MoC released Prakas No....
Islamic Finance in Cambodia
IntroductionCurrently, there are approximately 400,000 to 800,000 Muslims living in Cambodia and many of them are living in either poverty or low income families. As such, they form a group that are most in need of financial assistance to support basic living...
Consumer Protection Law in Cambodia and Interest Rate Hikes
1. Introduction On 24 March 2023, the Ministry of Commerce (the “MOC”) and the National Bank of Cambodia (the “NBC”) issued a joint press release on the implementation of the Law on Consumer Protection and Prakas on Unfair Contract Clauses in the Banking and Financial...
LIBOR–The Death of a Dear Friend
On 30 June 2023, participants in the banking and financial services sector and the lawyers that advise them will lose a dear friend, the London Inter-Bank Offered Rate (LIBOR). LIBOR is essentially a benchmark interest rate set by a panel of banks in London on a...