The Cambodian Ministry of Commerce recently organized a workshop aimed at improving the financial sector's familiarity with the nation's secured transactions framework. Held at the Angkor Miracle Resort & Spa, the event drew representatives from 50 organizations, including law firms, notary offices, pawnshops, banks, and microfinance institutions.
Led by Secretary of State Buon Saramony, the session was a collaborative effort between the Ministry of Commerce and the Techo Startup Centre, which operates under the Ministry of Economy and Finance. The curriculum centered on the 2007 Law on Secured Transactions and the technical operation of the Secured Transactions Filing Office (SETFO) 2.0 online registry.
Participants received instruction on the legal requirements for secured lending, the classification of movable collateral, and the specific rights and responsibilities of creditors. Furthermore, the training covered enforcement protocols and the practical application of the electronic filing system. By refining these processes, the government intends to bolster legal certainty, simplify the registration of collateral, and ultimately facilitate greater credit access for businesses across the country.
Source: Khmer Times
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