The central bank hopes to launch its central shared switch mechanism next month after a trial run that has already connected the account records of three of the Kingdom’s leading financial institutions, allowing them to operate ATM and point-of-sale (POS) terminals in tandem, according to ...

Speed Pay Plc, a newly licensed electronic payments service provider (PSP), is gearing up to join the ranks of mobile platforms tapping into Cambodia’s nascent digital payment sector. ...

The central bank announced on Friday that it has fined an unnamed microfinance institution (MFI) $100,000 for engaging in non-transparent lending practices. ...

Commercial lenders have said the central bank’s requirement that banks and microfinance institutions (MFIs) increase the share of local currency in their loan portfolio to at least 10 percent by the end of 2019 could prove challenging to implement as their biggest clients exhibit a ...

National Bank of Cambodia (NBC) governor Chea Chanto said on Monday that the Kingdom’s economy has maintained robust growth with low and manageable inflation which paves a favourable path for the Banking sector’s continuous development. Meanwhile, fintech is playing an important role in the financial ...

Political stability, growth in all economic sectors and a strong banking system were major drivers that reinforced public confidence in the Kingdom’s banking system last year, said the National bank of Cambodia (NBC). According to its “Macroeconomic and banking Progress 2019 Report and 2020 Outlook”, ...

The National Bank of Cambodia (NBC) will launch a Blockchain-based, peer-to-peer payment and money transfer platform in the next few months, its director-general Chea Serey told The Post on Monday. Dubbed ‘Project Bakong’, the scheme already has the support of 11 Banks, with many more ...

Cambodian’s will soon be able to make near-instant payments via a new blockchain payment platform being launched under a system called Distributed Ledger Technology (DLT) that will “ultimately undermine the popularity of the US dollar”, according to the Kingdom’s central bank director. ...

The Central Bank has reported that the total value in the leasing industry was recorded at  1,169 billion KHR ($287million), an increase of about  63 percent in 2019 compared with the year before. ...

Six months since the central bank launched its FAST payment system, a new scheme to provide instant riel-denominated fund transfers between financial institutions and their clients, the bank recorded a total fund transfer of 10 billion riel ($2.5 million) as of end-2016. ...

The National Bank of Cambodia (NBC) has announced a $50 million auction this week to stabilise the local currency exchange rate in the market. The NBC has informed Banks, microfinance institutions (MFIs) and licensed money exchangers that the minimum rate for auction will be announced ...

Payment systems in Cambodia have seen remarkable strides in line with the evolution of financial technology (fintech) and significantly contribute to the development of the national economy, as digital transactions witness a Covid-19 boom, the National Bank of Cambodia (NBC) said in the 2020 annual ...

The National Bank of Cambodia (NBC) has scheduled four foreign exchange auctions this September to infuse a total of $50 million into the market. The move comes at a critical time, with experts viewing it as a significant step towards stabilising the Cambodian riel against ...

Opening a bank account from the comfort of your home is possible today thanks to e-KYC services in Cambodia. ...

Adoption of digital payments has helped in reducing remittance costs, said Chea Serey, Governor, National Bank of Cambodia at a panel discussion on ‘Sustainable Capital: Environmentally Consolidated Finance’ on Monday at the Dubai Fintech Summit in UAE. ...

For more than a year, mystery has shrouded a museum in Siem Reap. The facts have been few and the details sparse. What’s known is that a North Korean company invested about $10 million for construction, and that artists from the hermit kingdom flew in ...

South Korea’s state-run deposit insurer opened its first overseas branch in Phnom Penh yesterday in a move to sell off the bank and property assets of Korean banks that went belly up in 2011. ...

The South Korean government is looking to procure farmland aboard, approximately 380,000 hectares by the year 2018. The government is providing assistance to companies that lease arable land or buy stakes in overseas operations and are looking for such potential in Cambodia as well as ...

Prime Minister Hun Sen on Friday urged the economic leaders of the Asean bloc to go through with a plan to double a bailout pool, funded largely by China, Japan and South Korea, to prevent future financial crises in the region. Opening the Asean Finance ...

Cambodia has greeted some 3.2 million foreigners in the first eleven months of 2012, up 24 percent compared with 2.58 million visitors in the same period a year earlier, showed the latest statistics of Tourism Ministry on Thursday. From January to November last year, Vietnam topped ...