Loans in Kingdom soaring
Credit Bureau Cambodia (CBC) has reported that the total outstanding loans in the first quarter of the year reached about $28.4 billion, up to 26 percent compared with the same period last year. ...
Sok Chan
https://www.khmertimeskh.com/50722002/loans-in-kingdom-soaring/
NBC makes argument for more use of riels
National Bank of Cambodia Governor Chea Chanto said Cambodia needs a strong national currency to strengthen its economic and financial resilience to underlying crises, as well as to support sustainable and inclusive socio-economic growth and development. ...
Sok Chan
https://www.khmertimeskh.com/50767469/nbc-makes-argument-for-more-use-of-riels/
Public ‘OK’ with removal of small-dollar banknotes
As the deadline draws close for commercial banks and microfinance institutions to send back smaller dollar banknotes to the National bank of Cambodia without a service charge, businesses are seeing an increase in the use of the riel transactions with no real complaints from shoppers. ...
Jason Boken
https://www.khmertimeskh.com/50757036/public-ok-with-removal-of-small-dollar-banknotes/
Cambodia gets $127.8 million ADB loan to help expand power grid
The Asian Development Bank has approved a $127.8 million loan to support the construction of transmission lines and substations to help provide Phnom Penh and three other Cambodian provinces with stable and reliable electricity supply. ...
Khmer Times Staff
https://www.khmertimeskh.com/50763156/cambodia-gets-127-8-million-adb-loan-to-help-expand-power-grid/
ADB provides $127.8 million loan for reliable electricity infrastructure
The Asian Development Bank (ADB)approved a $127.8 million loan on Friday to expand the construction of transmission lines and substations, aiming to help provide Phnom Penh and three other provinces with a stable and reliable electricity supply. ...
Cambodian, Vietnamese Central Banks satisfied with bilateral cooperation
The Central Banks of Cambodia and Vietnam have lauded the progress of their bilateral cooperation which has contributed significantly to the development of the Banking and economic sectors of the two countries. ...
Phal Sophanith/AKP
https://www.khmertimeskh.com/50792134/cambodian-vietnamese-central-banks-satisfied-with-bilateral-cooperation/
Cambodia-Lao Central Banks committed to strengthening financial and economic cooperation
The Central Banks of Cambodia and Laos have vowed to strengthen bilateral cooperation and relation on the development of the financial and economic sectors and to build friendship and cooperation between the two nations. ...
An outlook into 2021 economy
Cambodia’s economy will contract two per cent in 2020 before swiftly recovering to four per cent growth this year, the World Bank projects, citing effective government measures that respond to the specific needs of the most affected sectors – including tourism, garments and textiles, and ...
May Kunmakara
https://www.phnompenhpost.com/business/outlook-2021-economy
NBC conference discusses growth models for economic development
The seventh annual NBC Macroeconomic Conference 2020 commenced yesterday under the theme of “Discussion of Cambodia’s Economic Development Models”. It is being held virtually and will conclude on the morning of Dec 29. ...
CBC wins consumer credit reporting award
Independent financial information provider Credit Bureau (Cambodia) Co Ltd (CBC) scooped an award for “Excellence in Consumer Credit Reporting”, CBC said in a January 5 press release. UK-based “reputed international business magazine” Global Business Outlook (GBO) honoured the locally-owned CBC for its “exceptional performance” in Cambodia’s ...
May Kunmakara
https://www.phnompenhpost.com/business/cbc-wins-consumer-credit-reporting-award
The National Bank of Cambodia discourages usage of bank notes to curb COVID-19 spread
The National Bank of Cambodia today issued an announcement encouraging all members of the public to use electronic payment services to participate in the prevention and control of the spread of COVID- 19. ...
Khmer Times Staff
https://www.khmertimeskh.com/50842182/the-national-bank-of-cambodia-discourages-usage-of-bank-notes-to-curb-covid-19-spread/
Fintech points the way to full financial inclusion for Cambodians
With more cellphones existing in the Kingdom than citizens and one of the youngest populations in the world, Cambodia’s mobile financial industry may be poised to bring the Kingdom’s deficit in financial inclusion to an end. ...
Husain Haider
https://www.khmertimeskh.com/50809969/fintech-points-the-way-to-full-financial-inclusion-for-cambodians/
Consumer credit performance improving
Consumer credit performance is showing consistent improvement as both loan balances and the number of loan accounts issued are undergoing sustained positive growth, according to a report from the Credit Bureau Cambodia (CBC). ...
Sok Chan
https://www.khmertimeskh.com/50809008/consumer-credit-performance-improving/
ACLEDA expanding its digitalisation strategy in 2021
ACLEDA Bank Plc, one of the largest commercial Banks in Cambodia, announced that it is boosting and expanding its self-automation post Banking services as part of its focus on digitalisation in the Kingdom. ...
Sok Chan
https://www.khmertimeskh.com/50809406/acleda-expanding-its-digitalisation-strategy-in-2021/
Buy Now, Pay Later model could supplant credit cards
According to technology business site Tech In Asia, the once-obscure Buy Now Pay Later (BNPL) trend is getting new legs, which could see the option spreading in an increasingly digital Asia-Pacific. ...
Tom Starkey
https://www.khmertimeskh.com/50810014/buy-now-pay-later-model-could-supplant-credit-cards/
Visa: Cambodia’s 2021 transaction trends
A desire for increased security and an acute awareness of current health guidelines has generated an uptick in the use of non-cash payments, according to US multinational financial services corp Visa, as measured in its latest Consumer Payments Attitudes survey. ...
Jason Boken
https://www.khmertimeskh.com/50810543/visa-cambodias-2021-transaction-trends/
Cashless Cambodia boosted by pandemic
The COVID pandemic is intensifying the Kingdom’s push towards becoming a cashless society as consumers increasingly opt to conduct digital payments instead of physical transactions. ...
Husain Haider
https://www.khmertimeskh.com/50817836/cashless-cambodia-boosted-by-pandemic/
Bakong top in digital currency index
Cambodia’s digital retail ecosystem was ranked first in Asia and second globally in the PricewaterhouseCooper (PwC) inaugural Central Bank Digital Currency (CBDC) Global Index. ...
Husain Haider
https://www.khmertimeskh.com/50842250/bakong-top-in-digital-currency-index/
COVID won’t hold us back, ASEAN meeting agrees
Speaking at the virtually held ASEAN Finance and Central Bank Deputies’ Meeting (AFCDM), Neav Chanthana, deputy governor of the National Bank of Cambodia (NBC), said that members are committed to pushing economic growth in the region despite the Coronavirus pandemic. ...
Sok Chan
https://www.khmertimeskh.com/50832326/covid-wont-hold-us-back-asean-meeting-agrees/
Annual reports show three pictures of financial sector’s 2020
Three prominent financial houses – Hattha Bank Plc, PRASAC Microfinance Institution (MFI) Plc and PPCBank Plc – released their annual financial reports and, in so doing, delivered a comprehensive look at how the sector in general fared over the course of pandemic-struck 2020. ...
Husain Haider and William Nygren
https://www.khmertimeskh.com/50834597/annual-reports-show-three-pictures-of-financial-sectors-2020/