H2 inflation to fall below 5%: NBC boss
Average year-on-year inflation for the second half (H2) of 2022 will fall below five per cent, on the back of improvements in economic activity, as gross domestic product (GDP) grows around five per cent over the period, National Bank of Cambodia (NBC) governor Chea Chanto ...
May Kunmakara
https://www.phnompenhpost.com/business/h2-inflation-fall-below-5-nbc-boss
MoU signed to push financial literacy
Associations of Banks and Microfinance Institutions signed a Memorandum of Understanding on Monday with a FinTech federation to promote financial literacy and inclusion as part of a move towards greater digital adoption. ...
Prak Chan Thul
https://kiripost.com/stories/mou-signed-to-push-financial-literacy
ADB, EDC sign mandate for two GW solar and battery storage power programme in Cambodia
The Asian Development Bank (ADB) signed a transaction advisory services mandate with Cambodia’s national utility company Électricité du Cambodge (EDC) to support the development of two gigawatts (GW) of solar power in Cambodia. ...
Khmer Times Staff
https://www.khmertimeskh.com/501179163/adb-edc-sign-mandate-for-two-gw-solar-and-battery-storage-power-programme-in-cambodia/
Clampdown on illegal online lending
The National Bank of Cambodia (NBC) said on Thursday they have joined forces with police to take legal action against those involved in fraudulent online lending saying it is a crime, and urged the public to contact official financial institutions when borrowing money. ...
Seng Mengheng
https://kiripost.com/stories/clampdown-on-illegal-online-lending
Inflation predicted to fall below five percent
Inflation remains under control and is predicted to drop below five percent as banking and financial institutes continue to aid post-pandemic economic recovery, says the National bank of Cambodia. ...
Prak Chan Thul
https://kiripost.com/stories/inflation-predicted-to-fall-below-five-percent
Banks, MFIs raise interest rates following Fed move
Many banks and microfinance institutions (MFIs) in Cambodia have increased interest rates for deposits in dollar and riel currency by approximately 0.5 percent and 1 percent per annum respectively but not decreased rates for loans in the last three months, according to senior officials in ...
Kang Sothear
https://www.khmertimeskh.com/501128445/banks-mfis-raise-interest-rates-following-fed-move/
Cambodia received $18.4M from ADB trust funds in 2021
Cambodia received a total of $18.4 million for 23 projects as part of the Asian Development Bank’s trust fund, global fund, and special fund financing for projects and technical assistance, according to an ADB report. ...
Adur Pradeep
https://www.khmertimeskh.com/501145513/cambodia-received-18-4m-from-adb-trust-funds-in-2021/
IMF, ADB peg 2022 GDP growth at 5%
Two major multilateral lenders have forecast Cambodia’s economic growth for 2022 at around five per cent, buoyed by bumper export performance earlier in the year, coupled with ongoing policy support and continued tourism recovery, but held back by external pressures associated with Covid-19 and the ...
May Kunmakara
https://www.phnompenhpost.com/business/imf-adb-peg-2022-gdp-growth-5
Kingdom looks to join China’s CIPS payment system
The National Bank of Cambodia (NBC) is looking into joining the RMB Cross-border InterBank Payment System (CIPS) to provide additional international payment options; facilitate and boost trade, investment, tourism between the two countries through yuan-denominated transactions; and to make management of the Chinese currency in ...
May Kunmakara
https://www.phnompenhpost.com/business/kingdom-looks-join-chinas-cips-payment-system
Loan accounts reach 1.54M at end-2022: CBC
The total number of loan accounts reached 1.54 million nationwide in December, rising by 3.45 per cent “from the previous quarter”, according to the latest report from Credit Bureau (Cambodia) Co Ltd (CBC). ...
May Kunmakara
https://www.phnompenhpost.com/business/loan-accounts-reach-154m-end-2022-cbc
Cambodia records sharp rise in digital payment in 2022: report
Cambodia has seen a significant rise in mobile payments as more people transition from cash-based to digital transaction options, according to a recent report by the National Bank of Cambodia (NBC). ...
Khmer Times Staff
https://www.khmertimeskh.com/501297426/cambodia-records-sharp-rise-in-digital-payment-in-2022-report/
Access to finance, rise of the riel and inflation, with CBC
Since its establishment in 2012, Credit Bureau Cambodia (CBC) has helped drive the nation’s economic growth while providing a transparent and responsible lending landscape. This in turn has helped increase investment and access to finance nationwide. ...
Marissa Carruthers
https://kiripost.com/stories/credit-bureau-cambodia-ceo-on-access-to-finance-rise-of-riel-inflation
Banking and Financial Institutions' Code of Conduct, Lending Guidelines go into 'full implementation'
Prominent market players have affirmed that they are on board with the Banking and Financial Institutions’ Code of Conduct (BFI CoC) and associated Lending Guidelines, as well as their underlying objective to drive trust and professionalism in the field, as these sets of rules go ...
May Kunmakara
https://www.phnompenhpost.com/business/banking-and-financial-institutions-code-conduct-lending-guidelines-go-full-implementation
Riel day reiterates significance of national currency
The National Bank of Cambodia (NBC) organized on Monday a Seminar on Riel, Financial Literacy and Bakong system, as part of the celebration of the 43rd anniversary of reintroduction of Riel, the national currency. ...
Khmer Times Staff
https://www.khmertimeskh.com/501258963/riel-day-reiterates-significance-of-national-currency/
42% of loans taken in capital; women outnumber men in provinces
As much as 42 percent of the loans disbursed by banks and commercial banks in Cambodia has been taken by residents living in its capital Phnom Penh while women borrowers outnumber men in most of the provinces. ...
Manoj Mathew
https://www.khmertimeskh.com/501266501/42-of-loans-taken-in-capital-women-outnumber-men-in-provinces/
ADB pegs economic growth for ‘23 at 5.5%
The Asian Development Bank (ADB) on April 4 pegged the Kingdom’s economic growth at 5.5 per cent for this year “on a more robust tourism recovery and higher growth in the services sector”. ...
Rann Reuy
https://www.phnompenhpost.com/business/adb-pegs-economic-growth-23-55
NBC’s Chanto: Kingdom’s growth will hit 6% in 2023
The central bank governor has set a six per cent target for Cambodia’s economic growth in 2023 – higher than the 5.2-5.8 per cent forecast by major international institutions such as the Asian Development bank (ADB), World bank (WB) and International Monetary Fund (IMF). ...
Rann Reuy
https://www.phnompenhpost.com/national/nbcs-chanto-kingdoms-growth-will-hit-6-2023
Payment in riel grew faster than US dollar through Bakong
The amount of cash paid in riel by account holders through Bakong system has increased 4.1 times in 2022 compared to the previous year, while that paid in US dollar through the same system has risen 3.2 times, and the transactions made through this system ...
Kang Sothear
https://www.khmertimeskh.com/501276160/payment-in-riel-grew-faster-than-us-dollar-through-bakong-2/
Economy to grow 5.5% in 2023, says NBC
Cambodia’s GDP is expected to grow by 5.5 percent with a low inflation rate of two percent in 2023, due to external factors and the re-opening of the economy. ...
Mao Sreypich
https://kiripost.com/stories/national-bank-cambodia-economy-to-grow-5-point-5-2023
Chinese yuan not to be legalized in Cambodia, NBC confirms
The agreement between the National Bank of Cambodia (NBC) and UnionPay International is not to legalize the Chinese currency in the nation but rather to raise the prestige of the Khmer riel through cross-border QR payments, NBC’s deputy governor-general confirmed after concerns were raised over ...
Mao Sreypich
https://kiripost.com/stories/nbc-chea-serey-chinese-yuan-not-to-be-legalized-in-cambodia