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Riel Loans Gain Traction in Cambodian Economy

Riel Loans Gain Traction in Cambodian Economy

The Credit Bureau Cambodia (CBC) reports a significant uptick in the use of the Cambodian currency, the Riel (KHR), in consumer loans. As of December 2023, Riel consumer loans accounted for 12% of the total outstanding consumer loan balance, totaling KHR 25.12 trillion. The increase reflects a growing confidence in the national currency, with 37% of all consumer credit inquiries being for Riel loans. The CBC plays a pivotal role in promoting Riel usage by providing comprehensive credit reporting, offering data insights for strategic analysis, and conducting policy impact research. These efforts help financial institutions develop new Riel-based loan products and inform policy on the currency's contribution to the economy. Additionally, CBC provides consumers with credit report access and assessments, contributing to financial transparency and literacy.

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