Thursday, February 23, 2017

Cambodian government logo disputes

Image result for cambodia ministry of finance logo

Cambodia’s government is wading into trademark disputes. Two finance institutions Acleda Bank and Prasac Microfinance have been asked to change their logos to differentiate them from state institutions. Prime Minister Hun Sen himself has threatened Prasec, the largest microfinance institution in the country. He indicated the central bank required it and threatened to withdraw their trade licences if they failed to comply.
Image result for Acleda Bank logoThe logic is that the logos are too similar the Ministry of Economy and Finance’s logos and “If people start believing that these institutions belong to the government, then they think they don’t need to pay back their debts, which is very detrimental to the industry,” has said Chea Serey, the director-general of the National Bank of Cambodia. Some have questioned why this is such a big issue, suggesting it is a way to emphasize borrower obligations obliquely. Both institutions face a multimillion USD bill for the change which impacts signage at hundreds of branches and replacing bank cards and documents, apart from the advertising and marketing costs of the rebrands.  

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