National Bank of Cambodia
|
|
| Headquarters | Phnom Penh, Cambodia |
|---|---|
| Established | 23 December 1954 |
| Governor | Chea Chanto |
| Central bank of | Cambodia |
| Currency | Riel |
The National Bank of Cambodia (NBC) (Khmer: ធនាគារជាតិនៃកម្ពុជា), located in Phnom Penh, is the central bank of Cambodia. The bank's duties include, inter alia, the management of monetary and exchange policies, the regulation of banks and financial institutions, and the control of the national currency, the riel. The bank was established in 1954 after the Indochina Printing Institution closed when Cambodia obtained its independence from France. The National Bank of Cambodia is also known as the "Red Bank" or "Banque Rouge".
It is an autonomous central bank with a 7-member board of directors responsible for establishing operational policies and issuing decisions, regulations, circulars and other directives. The National Bank of Cambodia supervises the banking system and is the chief banker for the government of Cambodia. The bank has four organizational areas, namely: the General Cashier, the General Directorate, the General Secretariat, and the General Inspection. As of 2013[update]Chea Chanto is the chairman of the board of directors and the Governor of the Bank.
The National Bank of Cambodia was established in December 23, 1954 after the Indochina Printing Institution (French: Indochine impression Institution) was shut down when the country gained independence from the French.
The National Bank of Cambodia printed its own national currency of Riel in order to completely terminate the monetary alliance with the Vietnamese and Laos currency. Meanwhile, there was the establishing of local banking system in which the state banks and private banks operated together in the territory of Cambodia.
In 1964, in order to follow the national building policy of the Sangkum Reastre Niyum, the banking system had been gradually reformed to meet the national economy's requirement by transforming the National Bank of Cambodia from the semi-autonomous institution to the state-owned bank under the form of the public entity with characteristics of industry and commerce, while the national and foreign private banks were closed, and the state established some state-owned banks such as Bank of Inadanajati, Development Bank, and the Rural Agricultural Bank.
...
Wikipedia