IMF lauds Kingdom’s early-Covid moves
International Monetary Fund (IMF) resident representative for Cambodia Yasuhisa Ojima is optimistic that Cambodia’s economy will see a quick recovery that reflects the “proactive measures” taken by the government to blunt the socio-economic impacts of Covid-19. ...
May Kunmakara
https://www.phnompenhpost.com/business/imf-lauds-kingdoms-early-covid-moves
Banking and financial institutions disbursed $44.9 billion in loans, an increase of 23 percent
The National Bank of Cambodia (NBC) said that at the end of the third quarter of 2021, Banking and financial institutions provided loans totaling 185.1 trillion riels or about $44.9 billion to agriculture, construction, manufacturing, services, wholesale and retail trade and household units. This accounted ...
Khmer Times Staff
https://www.khmertimeskh.com/50992206/banking-and-financial-institutions-disbursed-44-9-billion-in-loans-an-increase-of-23-percent/
IRC chief drums up support for more bancassurance deals
Insurance Regulator of Cambodia (IRC) director-general Bou Chanphirou on January 12 urged banks, other financial institutions and insurance companies to cooperate in bancassurance to drive further growth in the insurance sector, and raise penetration and density. ...
May Kunmakara
https://www.phnompenhpost.com/business/irc-chief-drums-support-more-bancassurance-deals
World Bank forecasts Cambodia’s economic growth to reach 4.5 percent in 2022 and 5.5 percent in 2023.
A World Bank released on January 12, 2022, said that Cambodia’s economic growth this year is expected to reach 4.5 percent this year and is projected to grow further to 5.5 percent in 2023. ...
Khmer Times Staff
https://www.khmertimeskh.com/501006196/world-bank-forecasts-cambodias-economic-growth-to-reach-4-5-percent-in-2022-and-5-5-percent-in-2023/
Cambodia’s banking industry sees three percent GDP growth last year despite pandemic, $38.5 billion in deposits
Cambodia’s banking industry had seen robust growth in loans and deposits in 2021 despite the impact of the COVID-19 pandemic, according to a report of the National bank of Cambodia (NBC) on Saturday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501008197/cambodias-banking-industry-sees-three-percent-gdp-growth-last-year-despite-pandemic-38-5-billion-in-deposits/
‘Best New Banknote’ award for 15,000 riel bill delivered to NBC chief
The National Bank of Cambodia (NBC) has finally been delivered the 2019 “Best New Banknote” award received for its 15,000 riel Banknote by representatives from the printing company Landqart AG after a long wait due to pandemic-induced border restrictions. ...
Ry Sochan
https://www.phnompenhpost.com/national/best-new-banknote-award-15000-riel-bill-delivered-nbc-chief
Cambodia’s electrical exports rise to $1.4 billion in 1H
Cambodia exported $1.4 billion worth of electrical equipment and electronic components in the first half of 2023, a 1.3-fold increase year-on-year, according to the National Bank of Cambodia’s report. ...
Chea Vanyuth
https://www.khmertimeskh.com/501335905/cambodias-electrical-exports-rise-to-1-4-billion-in-1h/
ADB retains Cambodia’s growth forecast at 5.3 percent in 2022 and 6.2 percent in 2023, down by 0.3 percent
The Asian Development Bank (ADB) maintained its economic growth forecast for Cambodia at 5.3 percent in 2022, but lowered the 2023 forecast to 6.2 percent from the earlier prediction of 6.5 percent due to weaker global growth, according to its updated outlook report released on ...
Khmer Times Staff
https://www.khmertimeskh.com/501155788/adb-retains-cambodias-growth-forecast-at-5-3-percent-in-2022-and-6-2-percent-in-2023-down-by-0-3-percent/
Growth pegged at 5.5% for ‘23 recovery stage by World Bank
The World Bank has upheld its economic growth forecast for Cambodia this year at 5.5 percent, supported by the resurgence of the services sector, particularly tourism, following the post-pandemic recovery. This projection is in contrast with the Asian Development Bank (ADB), which revised its growth ...
May Kunmakara
https://phnompenhpost.com/business/growth-pegged-55-23-recovery-stage-world-bank
NBC to intervene in foreign exchange market
The National Bank of Cambodia (NBC) will intervene in the currencies market in response to slower demand for riel and appreciation of the US dollar in the international foreign exchange market, an NBC release said. ...
Kang Sothear
https://www.khmertimeskh.com/501351238/nbc-to-intervene-in-foreign-exchange-market/
ADB urged to help upgrade R&D ‘skills for future economy’ in Cambodia
The Asian Development Bank is engaged in developing a new project called ‘Skills for Future Economy’ with the purpose of improving the industry in Cambodia, according to a senior officer of the Royal Government of Cambodia. ...
Sok Sithika
https://www.khmertimeskh.com/501147792/adb-urged-to-help-upgrade-rd-skills-for-future-economy-in-cambodia/
Inflation nears 8 percent, riel depreciates, trade deficit narrows in June
Cambodia’s inflation has risen to 7.85 percent in June 2022 compared on a year-on-year basis to 7.17 percent the previous month, which was the highest in the last decade, while the value of Riel has fallen 0.07 percent to 4,091 riel per US dollar and ...
Kang Sothear
https://www.khmertimeskh.com/501166675/inflation-nears-8-percent-riel-depreciates-trade-deficit-narrows-in-june/
NBC sees Cambodia’s GDP growth at 5.3% in 2022
Global growth recovery and rapid resumption in economic activity will give impetus to Cambodia’s economic growth this year, according to the National Bank of Cambodia (NBC). ...
Chea Vanyuth
https://www.khmertimeskh.com/501123527/nbc-sees-cambodias-gdp-growth-at-5-3-in-2022/
SME Bank announces loans for tourism sector
SME Bank of Cambodia Plc and several financial partner institutions have announced that applications for credit under the Tourism Restoration Cooperative Project are being accepted from July 1. ...
Sok Sithika
https://www.khmertimeskh.com/501105841/sme-bank-announces-loans-for-tourism-sector/
NBC asks financial institutions to be flexible with flood affected borrowers
The National Bank of Cambodia has asked financial institutions to implement flexible measures for borrowers who have been affected by flood, in a bid to ease the burden on financial flow and contribute to restoring families’ economic standards. ...
Chea Vanyuth
https://www.khmertimeskh.com/501170557/nbc-asks-financial-institutions-to-be-flexible-with-flood-affected-borrowers/
Conference throws spotlight on key role of banks
The 9th NBC Annual Macroeconomic Conference 2022 kicked-off today, highlighting how financial institutions, particularly banks, continue to be crucial participants in funding the real economy and supporting recovery. ...
Seng Mengheng
https://kiripost.com/stories/conference-throws-spotlight-on-key-role-of-banks
NBC to take legal action against illegal lenders
The National Bank of Cambodia (NBC) along with other competent authorities are considering taking legal action against firms or individuals operating businesses that go against the Banking laws and financial institutions of the Kingdom, NBC announced yesterday. ...
Kang Sothear
https://www.khmertimeskh.com/501140412/nbc-to-take-legal-action-against-illegal-lenders/
NBC pushes for de-dollarisation on 43rd Riel Day
National Bank of Cambodia (NBC) deputy governor Chea Serey on March 20 made a general call to keep using the local currency in day-to-day transactions, as part of de-dollarisation and other monetary policy initiatives, as a means to promote economic development. ...
May Kunmakara
https://www.phnompenhpost.com/business/nbc-pushes-de-dollarisation-43rd-riel-day
MEF, ABA Bank partner to develop digital economy and fintech
The Ministry of Economy and Finance (MEF) and Canada-headquartered ABA Bank signed a Memorandum of Understanding (MoU) today to collaborate within the framework of digital economy and financial technology development in Cambodia. ...
Sangeetha Amarthalingam
https://kiripost.com/stories/cambodia-mef-aba-bank-partner-to-develop-digital-economy-and-fintech
