PHNOM PENH: On December 12, 2024, the Ministry of Land Management, Urban Planning, and Construction (MLUPC) and Credit Bureau (Cambodia) Co., Ltd. inaugurated a new “Data Access Collaboration” at the Center for Banking Studies. This initiative aims to enhance the analysis and assessment processes for individual and corporate loan applications.
Presiding over the inauguration ceremony were Deputy Prime Minister Say Samal, Minister of Land Management, Urban Planning, and Construction, and Serey Chea, Governor of the National Bank of Cambodia (NBC).
The NBC explained that this property verification system will enable banks and financial institutions (BFIs) to access property reports directly. These reports will provide essential information, such as ownership details, rental history, and mortgage status, to inform loan decisions. BFIs can now receive these reports instantly through a digital process.
The NBC further clarified that this collaboration between the MLUPC, NBC, Credit Bureau Cambodia Co., Ltd., and FunGi Co., Ltd. will facilitate the provision of property verification services on the Credit Bureau (Cambodia) Co., Ltd. website.
During the ceremony, Deputy Prime Minister Say Sam Al emphasized the importance of digitization in modern society. He stated that by digitizing daily operations and services, the government can increase productivity, streamline processes, reduce costs, and enhance efficiency and safety. These advancements, he added, contribute to a more secure political and economic environment.