Introduction

In Cambodia, there is a growing concern on the increase in the level of non-performing loans in the banking and finance sector.

On 19 February 2026, the financial regulator of Cambodia, the National Bank of Cambodia (the “NBC”), promulgated Prakas No. B37-026-113 on Conditions for Asset Management Institution (“Prakas on AMI”) to create a regulatory framework for the licensing of asset management institutions in Cambodia.  A licensed asset management institutions can acquire and manage non-performing loans and associated collaterals from banks and other financial institutions in Cambodia, allowing such banks and financial institutions to manage their loan portfolios, improve asset quality and strengthen their balance sheets.  

This article sets forth an overview of the basic requirements for obtaining the asset management institution license from the NBC under the Prakas on AMI.

1. Company incorporation 

Asset management institution needs to be incorporated in the form of a public limited company in Cambodia.  Incorporation of a public limited company requires registration with the Ministry of Commerce of Cambodia.  After such registration, it needs to obtain patent certificate (annual business registration certificate) from the General Department of Taxation of Cambodia. 

2. Minimum registered capital

Asset management institution is required to have registered capital of no less than KHR 200,000,000,000 (equivalent to USD 50,000,000), and 100% of registered capital amount needs to be injected into its account at the NBC. 

3. License application and eligibility review by the NBC

Asset management institution license is issued by the NBC.  In order to apply for the asset management institution license, the applicant needs to submit the following materials to the NBC:
 

  • Details of the directors and senior management with documents showing their qualification and experience in the NPL sector
  • Details of the shareholders with supporting documents showing their capabilities and experience in business management
  • Business plan for the first three (3) years
  • Plan for the acquisition and management of non-performing loans
  • Description of the IT system
  • Policy on resolution of consumer complaints
  • Internal audit procedure


Under the Prakas on AMI, the NBC is required to complete its review process within six (6) months from the application date.

4. License fee

Fee for the asset management institution license is KHR 50,000,000 (USD 12,500) per annum.

5. License duration

AMI license issued by the NBC is valid for five (5) years and can be renewed. 

6. Scope of business activities

After obtaining the license from the NBC, the asset management institution can engage in the following business activities:
 

  • Acquire and manage non-performing loans
  • Acquire and manage immovable properties of the relevant debtors through court auction or provisional administration or liquidation process
  • Provide debt collection services to banks and financial institutions
  • Facilitate the sale of associated collaterals with the debtor’s consent
  • Sell loans to banks, financial institution and other asset management institutions