The Industrial and Commercial Bank of China (ICBC) launched its first branch in Cambodia yesterday, bringing the total number of commercial Banks in the country to 30. Speaking at the inauguration of the branch in Phnom Penh, Finance Minister Keat Chhon made an appeal to ICBC ...

New policies in agriculture, real estate and finance led the Asian Development Bank (ADB) yesterday to keep its outlook on Cambodia’s economic growth this year at an estimated 6.8 percent. The announcement comes even as the World Bank and the government have reduced their expectations, projecting ...

The government has asked China to make good on its pledge to buy 200,000 tons of rice annually from the Kingdom and also to speed up the approval of a $300 million loan to the country’s beleaguered rice sector. This request was made yesterday during a ...

The Foreign Trade Bank of Cambodia (FTB) and Tong Yang Securities (Cambodia) yesterday signed a memorandum of understanding on financial consultation services and trade co-operation that is hoped to expand Banking and securities business in the country. The MoU should bring the Bank and the securities firm into ...

Global Witness, a United Kingdom-based NGO, has alleged that Deutsche Bank has dropped the majority of its holdings in a Vietnamese company that operates rubber plantations in Cambodia, amid accusations the firm is involved in land grabbing and illegal logging. In a statement released today, Global ...

Taiwan’s E. Sun Commercial Bank has purchased a 70 per cent stake in Cambodia’s Union Commercial Bank. The deal, planned for months but announced yesterday at a press conference at the Sofitel hotel in Phnom Penh, will bring technology upgrades and more loan capital to the ...

Taxpayers are now able to pay their dues at Acleda Bank as the government seeks to outsource its tax revenue collection to the private sector, the head of Cambodia’s largest Bank said yesterday. In Channy, president and CEO of Acleda Bank, told the Post that the ...

Cambodia’s credit sector is expanding rapidly with the central bank saying now is the time to start infusing the market with riel and begin a process of de-dollarization in the country’s economy. But as the growth of dollarized loans outstrips those in riel, disbursing credit ...

Tong Yang Securities (Cambodia) and ACLEDA Securities yesterday signed a memorandum of understanding to partner the services they offer to the Kingdom’s budding financial markets. To expand their footprint in the market,  the companies aimed to provide a combination of advisory and underwriting services for companies ...

Mahuran Japan Bank and the Seilanithih Microfinance Institution have signed an agreement to work together, according to a statement yesterday. Maruhan general manager Onishi Shizuo said  the agreement would benefit both parties. “By joining forces with us, Seilanithih will be able to expand the size of ...

An increase in agricultural trading has caused the value of the US dollar to dip below 4,000 riel in the past three consecutive days, as there is now a higher demand for the Cambodian riel, money exchangers and an official from the National Bank of ...

With the rice harvest season beginning soon, state-owned Rural Development Bank (RDB) has started disbursing loans to local rice millers under its emergency fund, according to a high-ranking official.​ ...

The Asian Infrastructure Investment Bank (AIIB), which is a Chinese initiative, has provided its first loan of $75 million to Cambodia Fiber Optic Communication Network Co Ltd (CFOCN) to improve the Kingdom’s internet speed and quality, an AIIB statement said. ...

In the latest effort to mitigate the impact of plummeting rice prices, Prime Minister Hun Sen said on Monday that the government was seeking $300 million from China to boost the capacity of rice millers and provide funds to them for purchasing paddy from farmers. ...

The president of the Cambodia Rice Federation (CRF) has asked the government for an emergency loan of $20 million to $30 million, saying it is necessary to prevent the collapse of the rice sector. ...

The Asian Development Bank has approved a $45 million loan for Cambodia to overhaul its upper secondary education in order to address the increased demand for skilled workers. ...

The Ministry of Economy and Finance (MEF) is planning to form a joint committee chaired by government officials and microfinance institutions (MFIs) to promote small loan disbursements as the new 18 percent loan interest rate cap takes effect, according to an announcement released by the ...

Despite global uncertainty related to political shifts in the West and a continued Chinese economic slowdown, Cambodia showed strong growth prospects for the next several years, according to the World Bank’s latest report. ...

Cambodia is handicapped by the dollarization of its economy in three ways, according to Kith Sovannarith, Deputy Director General of Banking Supervision at the National Bank of Cambodia. ...

The World Bank has predicted that Cambodia’s GDP will grow at a more modest 6.9 percent this year and next, and slow slightly to 6.7 percent in 2019.   ...