Cambodia and Indonesia outlined five priorities for ASEAN (Association of Southeast Asian Nations) for the revival and development of tourism, during the bilateral talks in Bali on September 27. ...

The Bank of Thailand (BOT) on August 25 signed a memorandum of understanding (MoU) on Exchange of Banking Supervision Information with the National Bank of Cambodia (NBC), the regulator of financial institutions in Cambodia. The MoU provides a formal basis for Banking supervisory cooperation between the ...

Hong Leong Bank Bhd (HLB) has received approval from Cambodia’s Ministry of Commerce to open a wholly-owned, locally incorporated commercial Bank in Cambodia. HLB said with a capital of US$37.5 million (RM116.2 million), Hong Leong Bank (Cambodia) Plc will commence operations in Cambodia within ...

The first time Leang Horng, a resident of Kandal province’s Saang district, made use of a micro-finance institution, a loan was the only service he needed. At that time, Horng had no idea about deposits or money transfers. But things have changed in the past few ...

Prime Minister Hun Sen yesterday lashed out at the opposition party’s concerns over the interest rates charged by commercial banks to farmers. SRP lawmaker Yim Sovann said commercial banks in Cambodia charge customers very high interest rates, and said it is much higher than in other ...

The Republic of Korea (ROK) has joined the Mekong River Commission (MRC) as its newest development partner. In a significant boost to regional cooperation and sustainable development, Korea has committed a grant of $1,000,000 to the MRC for the year 2024, and the possibility of ...

Cambodia’s tertiary system is not producing enough of the right type of graduates to meet the economy’s demands, says a report launched by the World Bank last week. The 222-page report, titled “Putting Higher Education to Work”, states that “quantity gaps are particularly strong in ...

Acleda Bank has signed a $US10 million loan agreement   with Proparco, a development finance institution held in part by the Agence Francaise de Développement (AFD), according to a statement released on Wednesday. With the Kingdom’s financial sector expanding rapidly and a growing demand for Banking and ...

PRASAC, Cambodia’s largest microfinance institution by outstanding loans, planned to become a licensed commercial bank in the Kingdom, company officials said yesterday. The news comes despite calls from insiders and experts – most recently the International Monetary Fund and World bank – for the National ...

Cambodia’s central bank yesterday launched a weekly issuance of Negotiable Certificate of Deposits (NCD) with selling scheduled for every Wednesday – a move aimed at developing the interbank lending market by promoting a secondary market for the short-term interest-bearing certificates. ...

The Cambodia Rice Bank (CRB) will intervene to prevent the price of fragrant rice from falling further by offering to buy the staple grain directly from farmers at the market price of 840 riel (21 cents) a kilogram. The CRB also called on farmers to ...

The General Department of Taxation notified patent owners that they have three months to pay taxes owed on their patents, but they can do so at banks this year for the first time,  its director general said yesterday. ...

When Cambodia began accumulating foreign reserves in 1997 – after it switched from a centrally planned market to an open economy – the central bank deposited the $276 million it had saved at the Federal Reserve bank of New York and allowed it to manage ...

Military police in Siem Reap province arrested a 33-year-old woman this week on accusations of fraudulent activity involving writing a cheque at a local bank. Cheque account usage, an infrequently used service only a few years ago, is gaining traction in the Kingdom. bank officials said fraudulent cheques ...

ANZ Royal Bank has transacted a landmark commodities hedging deal with a local oil importer, officials at the Bank said yesterday. The deal allows the company, whose name ANZ Royal would not disclose, citing confidentiality agreements, to lock in an agreed price for the future sale ...

Lending by Cambodia’s commercial banks rose by 6 percent while deposits grew by 10 percent in the first quarter of this year, a National bank of Cambodia (NBC)’s report said Tuesday. The report said the country’s 34 commercial banks had lent a total of 7.87 billion ...

Cambodia’s banking sector has reported a 9.3-percent increase in lending in the first six months of the year, according to the figures from the National bank of Cambodia (NBC) on Sunday. The figures showed that the kingdom’s 35 commercial banks had lent a total of 8.09 ...

CIMB Bank, Malaysia’s second-largest, has entered the insurance market via a partnership agreement signed yesterday with Cambodia Life Insurance Company (CLIC). In Meatra, director general of CLIC, said that under the partnership, CIMB had received full access to offer their insurance products to customers. ...

With the deadline for property owners to pay their dues passing today, Acleda Bank – one of two agencies collecting tax for the government – has received over $1 million in property tax payments this financial year. So Phonnary, executive vice president of Acleda Bank, told ...

Bangkok Bank’s international business this quarter is expected to witness a slowdown due to global market uncertainty, while Vietnam, which is an important market for BBL, has been sidelined by currency woes. Cambodia has some 40 Banks, 10 of which are foreign. Given the size ...