NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2000
1. GENERAL
Foreign Trade Bank ("FTB") was created following Sub-decree No. 1213 dated 10 October 1979 under the former regime of the State of Cambodia.
In 2000, the Bank was separated from the former direct management of National Bank of Cambodia ("NBC") in order to transform its permanent identity into a State-owned commercial bank with the features of a Public Economic Enterprise and an aim to conduct autonomous business operations. Once its management and technical operations have been strengthened and improved by the Reform Commission, it should have equal status to other commercial banks. The improvements will be based on:
The Organizational Restructuring Program of the FTB within the framework of the policies of the Royal Government of Cambodia and the International Monetary Fund (IMF). This should facilitate NBC in fulfilling its entire role as the monetary authority;
The Law on the Organization and Conduct of NBC promulgated by the Royal Code No. ns/rkm/01.96/27 dated 26 January 1996;
The Law in Banking and Financial Institutions issued by the Royal Code No. ns/rkm/0695/13 dated 18 November 1999;
The Law on Commercial Rule and Registration issued by the Royal Code No. ns/krm/0695/04 dated 26 June 1995; and
The Bank's Memorandum and Articles of Association ("MAA") dated 31 July 2000.
The Bank's MAA describes the Bank's mission and legal structure as follows:
"The main mission of the Bank is to conduct extensive operations of the banking and financial intermediation with highly professional and qualified services, aimed at filling the needs of clients and contributing to the economic development of the Kingdom of Cambodia. Therefore, the objectives of the Bank are to conduct and provide commercial banking operations and services in part or in whole, both locally and internationally, with pure commercial nature in line with the Law on Banking and Financial Institutions.
The legal existence of the Bank is fixed for a period of 99 years, starting from the date when the Bank has the legal personality as full entity which is from the date when it obtains the first license for commercial banking operations from NBC (see note 23), the supervisory authority of the bank system, and the commercial company registration in accordance with the laws in force.
In its legal form as the Public Economic Enterprise, the Bank shall operate under the direct guardianship of NBC in the technical areas due to the reason that this institution is the provider of the endowment for the first capital (see note 12) through different means to conduct the autonomous business."
Presently, all operations of the Bank are performed in the Head Office situated at No. 3 R. V. Kramuon Sar, Phnom Penh.
At 31 December 2000, the Bank has 85 employees (1999: 88).

 
ADDRESS
Telephone
Fax
Swift
Email		 : No.3 ● R.V Kramoun Sar (Former Street114)● Phnom Penh ● CAMBODIA
: (855) 23 724-466, 723-866, 723-466
: (855) 23 426-108, 426-410
: FTCCKHPP
: ftb@camnet.com.kh

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