The Association of Banks in Cambodia opened the doors to its new office yesterday, although commencement festivities were disrupted by a heavy afternoon downpour.

The more than 1,000-square-metre building on Oknha Pich Road in Chaktoumuk district will house the ABC’s Cambodia Institute of Banking, as well as the Credit Bureau of Cambodia, which is expected to open next year, ABC Chairman Phan Yingtong said yesterday.

The Kingdom’s banking law requires banks to join the association, which formed in 1994. The ABC is officially recognised by the government as the representative organisation of the private banking sector, according to the association’s website.