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Land management ministry partner with credit bureau, launch property verification service


 

The Ministry of Land Management, Urban Planning, and Construction has partnered with Credit Bureau (Cambodia) Co., Ltd. (CBC) to launch a new Property Verification Service aimed at improving financial processes for Cambodian banks and financial institutions. Officially launched on December 18, the service allows CBC’s 198 member institutions to verify property ownership details, geo-coordinates, and any active or closed pledges tied to a property.

This collaboration, supported by Fungi Co., Ltd., integrates data sharing between the ministry and CBC, enhancing transparency, fraud prevention, financial inclusion, and credit risk management. The digital platform enables member institutions to efficiently assess property risks and streamline loan application processes by generating customized Property Verification Reports.

The initiative aligns with Cambodia’s broader push for digital transformation, improving service efficiency, security, and reducing operational costs. It also facilitates faster, more reliable financial assessments while supporting economic growth and stability. Financial institutions can access the service via the CBC Property Verification platform with the property owner’s consent.

Key stakeholders, including the National Bank of Cambodia, emphasized the service's role in advancing digital innovation, economic security, and a sustainable financial system in the country. 

(Summarized by ChatGpt)

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