Responding to concern among some customers over recent market rumors, the National Bank of Cambodia (NBC) issued a notice on the evening of October 18, saying it was taking measures to ensure Prince Bank accounts operated normally and protect customers’ funds.
The notice said some bank customers, particularly those of Prince Bank, had withdrawn deposits during the previous two days because of concerning information. NBC stressed that all banks and financial institutions in Cambodia were subject to strict prudential supervision and had sufficient cash flow to meet withdrawal needs.
Cambodian authorities were closely monitoring and investigating information concerning Prince Bank to ensure its business complied with Cambodian law. NBC was also taking the necessary measures to maintain normal account operations and the security of customers’ funds.
The notice sought to reassure the public, saying customers need not panic and that the banking system was sound and reliable, with their funds protected.
Compiled by this station
