ZNCB Family Corporation

ZNCB took a training course for Gold & Diamond Appraisals to ensure a company to get better returns of their investment.. Through our extensive training programs, we at MIMPSS strive to develop the very best in quality of service and value for our clients.

Each of our participants receives from us the following:
– Sense of Responsibility
– Precision and Accuracy
– Trust and Confidence

Our training programs are extremely detailed and hands on. We train extensively on how to properly utilize the equipment, how to determine properly values through Application of proper procedural tests and theories during pur active hands on workshops. And after completing our programs our grad students can comfortably move forward adn properly evaluate a wide range of goods that could be presented in any operation anywhere in the world today.

Growth in the pawnshop industry seems a sure thing

A recent article in the International Business Times suggests that the pawnshop business is poised for large growth in Latin America and points to Mexico in particular as a hotspot.

Pawn lenders are seeing growth opportunities in Latin America as these markets offer a broad customer base that still rely on the age-old mode of borrowing.

“What is so compelling about these countries is the high number of “underbanked” and “unbanked” customers,” Roth Capital analyst Elizabeth Pierce said.

“These are customers that don’t have a traditional banking relationship. It’s a cash-driven economy.”

Pawnshops, by their very nature, serve segments of populations that do not have access to the traditional banking system. Therefore, the mention of “underbanked” and “unbanked” customers above would apply, in my opinion, to all of Latin America, the Philippines and most of Asia as well. As MIM reported earlier this apparent by the legalization of pawnshops in Cambodia

One might even ask if there are “underbanked” and “unbanked” populations in the nations where the banking system has a greater presence. In the United States and Europe, banks and their branches are common in nearly every community. But what can not go unnoticed in the Western countries is that there has also been a breakdown in banking system. The very definition of the economic plague spreading throughout the United States and Europe is that it is a credit crisis.

Starting in 2008, the western banking system found itself so overloaded with debt that had no reasonable chance to be re-paid back that it had to turn to government financial help just to stay afloat. Of course, the most common criticism in the United States is that even though the government has pumped hundreds of billions of dollars into the banking system, the banks still are not lending. Will pawnshops fill the void in lending in western countries just as it is doing in regions like Latin America and Asia? Time will tell.

As for Asia and Latin America where the banking system never had the presence that it had in the western countries, I think it is easy to assume that the pawnshop industry has more growth to come as it fills a void in the lending systems left by banking institutions.

Pawnshops are now legal in Cambodia

The MirrorNo. 650, Vol. 14,

“Phnom Penh: Recently, the Ministry of Economy and Finance announced through newspapers to inform vendors who want to run pawn shop operations to apply for a license very soon, because such operations can now be legalized. This information shows that pawn shop operations become legal.

“An official of the Ministry of Economy and Finance said on 12 January 2010 that the ministry had issued an announcement about the provision of licenses for the operation of pawn shops to accept, buy, and sell pawn property, and for the operations to accept collateral via transfer. Based on this notification, those who intend to run or are already running pawn shop operations can apply for licenses so as to make their operations legal.

“According to the law, quoted for the announcement about the operation of pawn shops that Rasmei Kampuchea received on 1 February 2010, a license for such operations to accept, buy, and sell pawn property costs Riel 2,000,000 [approx. US$470] per year, and a license to open a branch costs Riel 1,000,000 [approx.US$235]. And a license for the operation to accept collateral via transfer costs Riel 1,000,000 per year and only Riel 500,000 [approx. US$120] to open a branch. The operation to accept collateral via transfer, according to the official’s explanation, is also a kind of pawn shop operation, but documents for the sales and for the buying are issued.

“Based on this notification, to run an operation to accept, buy, and sell pawn property, an owner needs to have a minimum capital of Riel 80,000,000 [approx. US$19,000], and needs to deposit 10% into an account of the ministry. As for the operation to accept collateral via transfer, a minimum capital is Riel 40,000,000 [US$9,500] is needed, and a deposit of 10% into the account of the ministry. That deposit can be taken out only when the ministry permits it.

“But the announcement does not define interest rates. They will be based on mutual agreement, but should not be against the law [but it is not said here what the law says].

“It is questioned how a license can protect the sound operation. An official of the Ministry of Economy and Finance said, ‘If you have a license, your operation is legal. When the authorities go to check the operation, it is already legal. But if you operate illegally, to only then apply for a license cannot help.’

“It should be noted that previously, there was no need to have a licenses to run a pawn shop. Last year, immediately after the head of the government had issued an order, police strongly suppressed pawn shops, seizing pawn property at pawnshop unreasonably though there was no law, making some people to fear also when running such a shop now. Now, there is a law – but will there be major trouble again?” Rasmei Kampuchea, Vol.18, #5116, 3.2.2010