In an effort to enhance financial journalism in Cambodia, Credit Bureau (Cambodia) Co., Ltd. (CBC), in collaboration with the Club of Cambodian Journalists (CSJ), hosted a specialised training session titled “Understanding Credit Reporting Operations and Impact in Cambodia”.

The event took place on May 6 at the CBC headquarters on the 9th floor of the Vattanac Capital building in Phnom Penh. It was attended by 27 journalists representing 25 different media institutions.

The training session featured key presentations from CBC executives, including Oeur Sothearoath, CEO of CBC, Khom Chandara, head of operations, Phay Sophal, head of consumer service, and Srey Bopharoth, head of research and partnerships.

These experts provided insights into the intricacies of credit reporting operations and the significant role these operations play in the financial landscape of Cambodia.

A key focus of the training was to clarify the responsibilities and rights of clients within the credit reporting system, emphasising the protection of individual customers from credit risks and the correct management of credit history irregularities.

When the workshop was over the journalists were equipped with the knowledge they need to better inform the public about obtaining credit under fair conditions that safeguard both financial institutions and consumers.

An important discussion point during the session was the clarification of the term "Spoil CBC”, a phrase often misused in retail finance.

When an individual applies for finance to purchase something, whether a motorbike or a house for example, the finance company will check their credit history with the CBC. 

If they have a history of late repayments or have failed to pay previous instalments completely, they are described as “Spoil CBC". This means they have failed to comply with the terms and conditions of a microfinance institution.

During a break between classes, Reach Sarath, director -general of the Reaksmey Kork Thlok media outlet, shared that he had already learned a great deal about the field of credit, particularly the use of terminology in economic and financial reports. He was looking forward to discovering more.

“At first, I was confused about using the term 'Spoil CBC,' wondering what 'CBC' stands for, as the public commonly refers to it," he said.

CBC head of operations Chandara explained that "Spoil CBC" inaccurately refers to the CBC, as the bureau does not directly offer credit, but rather manages credit data.

“We aim to promote the correct use of language when discussing credit in Cambodia, especially the use of the term ‘spoil CBC’ by businesses that offer finance,” he told The Post.

The term generally arises in the context of late payments. He noted that the CBC focuses on documenting both positive and negative credit behaviours, with close attention given to cases where repayments are delayed by 90 days or more.

“This training is part of our ongoing commitment to ensure that financial journalism in Cambodia is well-informed and accurate, especially regarding the use of specific terms like 'Spoil CBC',” said Chandara.

He added that the training initiative aims to reach approximately 100 journalists from nearly 100 institutions by the end of May.

The CSJ praised the training as a crucial part of the development of business journalism in the Kingdom. It provides reporters with essential knowledge about the banking sector, financial vocabulary and the overall credit market process.