New warning against digital coins issued
The Securities and Exchange Commission of Cambodia (SECC) yesterday warned the public against investing in cryptocurrencies such as Bitcoin, arguing that there is no regulation in place to manage the use of digital coins. ...
May Kunmakara
http://www.khmertimeskh.com/50102471/new-warning-against-digital-coins-issued/
NBC officials optimistic about growing riel usage
The Cambodian riel accounted for about 17 percent of total currency circulation last year, a number similar to previous years, but central bank officials said they remained optimistic that use of the local currency will grow in the future. ...
Hor Kimsay
http://www.phnompenhpost.com/business/nbc-officials-optimistic-about-growing-riel-usage
Accounting and finance top job listings
Cambodia’s accounting and finance industries have seen the healthiest growth over the past three months, followed by jobs in sales, hospitality, management and marketing, according to the latest report by jobs website Everjob. More than 2,500 positions in the accounting and finance sectors were listed on ...
Sum Manet
http://www.khmertimeskh.com/news/30601/accounting-and-finance-top-job-listings/
Software for cleaner money
Tess International, a Malaysia-based provider of software solutions for the financial sector, signed a distributor agreement yesterday with Cambodian management consulting and business technology firm IdeaLink Consulting to provide software to Cambodian banks and microfinance institutions that helps them combat financial crimes. ...
Hor Kimsay
http://www.phnompenhpost.com/business/software-cleaner-money
Maybank offers share trading platform
Maybank Cambodia recently purchased an online stock and share trading platform to allow its premier wealth customers access regional and global markets. Cythia Liaw, Maybank Cambodia CEO, said Friday that the trading platform – KE Trade – was developed by Singapore-based Maybank Kim Eng, the fully ...
Sum Manet
http://www.khmertimeskh.com/news/31414/maybank-offers-share-trading-platform/
Workers get salaries winged
More than 900,000 garment and footwear workers can now get their salaries through Wing (Cambodia) Limited Specialized Bank after a memorandum of understanding (MoU) was signed yesterday between the Garment Manufacturers Association in Cambodia (GMAC) and the Kingdom’s leading mobile Banking services provider. ...
Sok Chan
http://www.khmertimeskh.com/news/33163/workers-get-salaries-winged/
Prasac gets $65M to expand lending
Four foreign banks, under the umbrella of the International Finance Cooperation, a member of World bank Group, provided $65 million in syndicated loans to Cambodian microfinance institution Prasac to expand its lending portfolio. ...
May Kunmakara
http://www.phnompenhpost.com/business/prasac-gets-65m-expand-lending
IFC loans $10 million to HKL for rural SMEs
The International Finance Corporation (IFC) has given Cambodian microfinance institute Hattha Kaksekar Ltd (HKL) a loan of up $10 million, aiming to boost access to finance to small- and medium-sized enterprises in Cambodia’s rural areas. ...
Ayanna Runcie
http://www.phnompenhpost.com/business/ifc-loans-10-million-hkl-rural-smes
Banks, MDIs urged to provide loans
The National Bank of Cambodia (NBC) has encouraged Banks and money-deposit taking institution (MDIs) to continue disbursing loans and possibly suspend interest for businesses impacted by the Covid-19 outbreak, especially in the tourism industry. ...
May Kunmakara
https://www.phnompenhpost.com/business/banks-mdis-urged-provide-loans
Banks support NBC proposal
The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) have expressed support for suggestions the National Bank of Cambodia (NBC) has given to financial institutions to reduce the impact of Covid-19 on the local economy. ...
May Kunmakara
https://www.phnompenhpost.com/business/banks-support-nbc-proposal
Nation’s banks adopt NBC’s COVID-19 crisis measures
As COVID-19 continues to carve out a path of economic destruction in the Kingdom, several financial institutions are considering re-classifying their loan-repayment structures to help relieve customers in fiscal trouble, in line with recent guidelines released by the National Bank of Cambodia. ...
Sok Chan
https://www.khmertimeskh.com/50712853/nations-banks-adopt-nbcs-covid-19-crisis-measures/
Financial institutions give their support to NBC’s liquidity plan
The National Bank of Cambodia (NBC) on Wednesday announced the release of two more policies to increase liquidity in the local economy. ...
May Kunmakara
https://www.phnompenhpost.com/business/financial-institutions-give-their-support-nbcs-liquidity-plan
Electronic settlements encouraged
The National Bank of Cambodia (NBC) is encouraging the use of electronic methods for settlements rather than using cash to prevent the possible spread of the COVID-19 pandemic. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50704646/electronic-settlements-encouraged/
New GDP prediction is not optimistic
The Asian Development Bank (ADB) has predicted that the real economic growth of Cambodia will reach 2.3 percent this year and will be around 5.7 percent in 2021, according to the newly released report on ADB’s flagship annual economic publication titled, Asian Development Outlook 2020. ...
Sok Chan
https://www.khmertimeskh.com/50709859/new-gdp-prediction-is-not-optimistic/
Riel effort to help local currency
The governor of the National Bank of Cambodia, the nation’s central Bank, Chea Chanto, has opened his heart about the future of the domestic currency and the dollar. ...
Khmer Times Staff
https://www.khmertimeskh.com/50709853/riel-effort-to-help-local-currency/
A serious concern: Cambodians’ $8 billion microfinance debt
Impending COVID-19 health measures and high levels of micro debt pose a serious concern for the approximately 2.4 million Cambodians with a combined outstanding debt of $8 billion, according to a World Bank report released this week. ...
Harrison White
https://www.khmertimeskh.com/50708402/a-serious-concern-cambodians-8-billion-microfinance-debt/
MFIs predict lower earnings
With the interest rate cap of 18 percent in full force for all new and restructured microfinance loans after the National Bank of Cambodia (NBC) issued a populist measure to curb high interest rates, microfinance institutions (MFIs) are starting to give predictions for lower profits ...
Hor Kimsay and Kali Kotoski
http://www.phnompenhpost.com/business/mfis-predict-lower-earnings
Banks and FI loan restructuring extended until mid-2021
The National Bank of Cambodia (NBC) will allow Banks and financial institutions to continue loan restructuring until mid-2021, according to a letter sent to the Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) last week. ...
Sok Chan
https://www.khmertimeskh.com/50785076/banks-and-fi-loan-restructuring-extended-until-mid-2021/
$100 million credit for rural roads
The World Bank has approved a $100 million credit from the International Development Association (IDA) to improve access to basic services and economic opportunities in Cambodia. ...
Sok Chan
https://www.khmertimeskh.com/50746299/100-million-credit-for-rural-roads/
Statement on Cambodia's foreign exchange reserves
On 23 July 2020, the National Bank of Cambodia has posted a statement on Cambodia’s foreign exchange reserves. According to the statement, Cambodia’s foreign exchange reserves value at 19,5 billion US$. Also, the National Bank of Cambodia acquire 36.5 tons of gold, of which: 12.4 ...
National Bank of Cambodia
