Cambodia’s banking supervisory authority, the National Bank of Cambodia ("NBC"), has progressively been developing banking and financial laws and regulations. On 13 September 2012, the NBC issued the Prakas No. B 7.012.140 dated 13 September 2012 on Maintenance of Reserve Requirement Against Commercial Banks’ Deposits and Borrowings requiring commercial banks to maintain reserve requirements against deposits and borrowings at a daily average balance equal to 8% in Riels and 12.5% in foreign currencies with the NBC. Three months later, under the Prakas No. B 7.012.185 dated 31 December 2012 on Prudential Rules and Risk Management Requirements applicable for Banks and Financial Institutions Acting as Cash settlement Agent Related to Securities (Agent Bank), the NBC set out prudential rules and risk management requirements applicable for banking and financial institutions acting as cash settlement agents related to securities permitted by the Cambodia Securities Exchange.

Separately, the Ministry of Economy and Finance ("MEF") has also participated in strengthening and facilitating banking transactions by issuing the Prakas No. 292 MEF dated 18 March 2013 on Credit Guarantee Fee of Credit Guarantee Fund which allows the Credit Guarantee Fund ("CGF") to collect a fee from banks and financial institutions for providing such guarantee. The CGF was established by the MEF in late 2011 in order to guarantee loans provided by banks and financial institutions.