Khmer Intelligence News
The ruling CPP is spending an increasing amount of money to prevent Canadia Bank and its subsidiary Foreign Trade Bank from collapsing under a mountain of bad debts resulting from the property market crisis.
Hun Sen’s wife and children are major shareholders of the two banks. Accounting tricks (window-dressing) have so far helped hide the banks’ real situation.
Earlier this month, the International Monetary Fund said Cambodia must undertake "critical actions" to strengthen its battered banking system, including better supervision by the central bank and faster implementation of measures to boost banks' minimum capital requirements.
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