Cambodia central bank closes 11 commercial banks

The National Bank of Cambodia has closed 11 commercial banks that failed to comply with the minimum capital requirement set by the new banking law, according to the Cambodia Daily on Monday. The decision was made after evaluating the financial situation of banks, shareholders of the banks, legality of management and business planning, the paper reported.

Only four commercial banks out of the 30 operating in the country have received a new banking license, the local newspaper quoted a senior of