Cambodia’s PM calls financial institutions to restructure loans for tour operators in Siem Reap
Cambodian Prime Minister Dr Hun Manet called on here this morning to the financial institutions to restructure loans for tour operators in Siem Reap province at reasonable interest rates to help revive the tourism sector after being severely affected by COVID-19. ...
Khmer Times Staff
https://www.khmertimeskh.com/501391907/cambodias-pm-calls-financial-institutions-to-restructure-loans-for-tour-operators-in-siem-reap/
World Bank sees Cambodia and Philippines as fastest growing developing ASEAN economies this year
The World Bank forecast Monday that GDP in Cambodia and the Philippines would expand by 5.8 percent this year, making the two countries the fastest growing developing economies in Southeast Asia. ...
Khmer Times Staff
https://www.khmertimeskh.com/501466304/world-bank-sees-cambodia-and-philippines-as-fastest-growing-developing-asean-economies-this-year/
World Bank extends $79.5M to improve education quality and access in Cambodia
The World Bank approved an additional $79.5 million to enhance education quality and access in Cambodia. ...
Ly Rosslan
https://cambojanews.com/world-bank-extends-79-5m-to-improve-education-quality-and-access-in-cambodia/
Agricultural loans fall to 31% from 36% in 5 years
As Cambodia diversifies, share of agricultural loans in rural credit falls from 35.8 percent to 31 percent in five years, as per data with the National Bank of Cambodia (NBC). ...
Rachel David
https://www.khmertimeskh.com/501490959/agricultural-loans-fall-to-31-from-36-in-5-years/
NBC to launch Bakong for foreign tourists
Tourists visiting Cambodia will soon be able to conduct transactions using the Bakong payment system, according to Chea Serey, Governor of the National Bank of Cambodia (NBC), recently. ...
Chea Vanyuth
https://www.khmertimeskh.com/501526826/nbc-to-launch-bakong-for-foreign-tourists/
Cambodia Says No Strings Attached in Recent Chinese Aid
China has done a lot to support Cambodia over the years with millions of dollars in aid, loans and investment. But after reports this week that China has pledged another $500 million in soft loans and grants—and publicly thanked Cambodia for its support in Southeast ...
http://blogs.wsj.com/searealtime/2012/09/06/cambodia-says-no-strings-attached-in-recent-chinese-aid/
Rise of housing loans
Although costs can be high for borrowing and it can be difficult to pay regularly every month, the trend of borrowing from banks by Cambodian people to buy property is still steadily increasing, according to experts. Keuk Narin, vice president of Asia Real Estate Cambodia, said ...
http://www.phnompenhpost.com/index.php/Real-Estate/rise-of-housing-loans.html
Global Fund’s probe saw little cooperation
Financial records the Global Fund requested for its investigation into widespread corruption in health grants to Cambodia were withheld and censored by grant recipients, the probe found, suggesting a systematic attempt to cover up wrongdoing. Out of a total of $220.3 million worth of expenses the ...
Daniel Pye
http://www.phnompenhpost.com/national/global-fund%E2%80%99s-probe-saw-little-cooperation
OSK Indochina Bank acquired by RHB Capital
One of Malaysia’s biggest investment banks, RHB Capital, announced it will acquire OSK Indochina bank, via the transfer of 100 per cent of OSK Investment bank shares from parent OSK Holdings, giving OSK Holdings a 10 per cent stake in the larger Malaysian RHB Capital ...
IFC provides $50m to Amret micro-lender
The International Finance Corporation (IFC) will provide a $50 million financing package to Amret Co to help the Cambodian microfinance institution increase lending to smaller businesses, particularly those in the agriculture sector and rural areas, it said in a press release. ...
Post Staff
http://www.phnompenhpost.com/business/ifc-provides-50m-amret-micro-lender
True money to extend services to Niron MFI
Mobile payment provider True Money Cambodia signed a memorandum of understanding with local microfinance institution Niron Mikroheranhvatho Plc on Friday to facilitate bill payments for the microlender’s 60,000 customers. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/true-money-extend-services-niron-mfi
Gov’t calls for microfinance NGOs to register with NBC
A government official lambasted the slow application rate for non-governmental organizations (NGOs) that operate as microfinance lenders, urging them to register with the National Bank of Cambodia (NBC). ...
Kali Kotoski and Cheng Sokhorng
http://www.phnompenhpost.com/business/govt-calls-microfinance-ngos-register-nbc
Memorandum to fight money laundering
The General Department of Taxation (GDT) signed a memorandum of understanding with the Financial Intelligence Unit of the National Bank of Cambodia (FIUNBC) to exchange information on money laundering and the financing of terrorist activities. ...
Sum Manet
http://www.khmertimeskh.com/news/26678/memorandum-to-fight-money-laundering/
National Bank to launch financial literacy campaign
A campaign will be launched country-wide to educate the public about how to properly use financial services, a forum on microfinance in Phnom Penh was told yesterday. ...
Sok Chan
http://www.khmertimeskh.com/news/22735/national-bank-to-launch-financial-literacy-campaign/
Interest cap poses body blow for Cambodian microfinance
Just months ahead of local elections, the Cambodian government has ordered the microfinance industry to cap interest rates on new and refinanced loans at 18 percent a year starting April 1. ...
Robert Carmichael
http://www.voacambodia.com/a/interest-cap-poses-body-blow-for-cambodian-microfinance/3783292.html
Cambodians face mounting pain from microfinance debt
KEAN SVAY, KANDAL PROVINCE, CAMBODIA — Five years ago, Lun Sam Ath took out a $12,000 loan to build a new wooden house and repay a previous loan that she had used to buy a motorbike. ...
Sun Narin
https://www.voanews.com/a/cambodians-face-mounting-pain-from-microfinance-debt-/7559968.html
Booming growth pushes Cambodia to lower-middle income status
Despite some appearances to the contrary, things in Cambodia are looking pretty rosy at least according to the World Bank. In its latest revision of world economies the Bank raised Cambodia’s status from a low-income economy to a lower-middle income country. ...
Vat Vin
http://aecnewstoday.com/2016/booming-growth-pushes-cambodia-to-lower-middle-income-status/
New Mortgage Program Helps Cambodia's Poor Find Better Homes
If you’ve applied for a mortgage recently, you know how hard it can be. The bank demands all kinds of obscure documents and wants proof of almost every asset you own. But an innovative mortgage program halfway around the world will evaluate your application without ...
http://www.wbur.org/npr/176121367/new-mortgage-program-helps-cambodias-poor-find-better-homes
Plans to Reform Economy for Asean Integration
Cambodia’s newly appointed minister of commerce said Thursday that he plans to reform the country’s economy ahead of Cambodia’s entrance into the Asean Economic Community (AEC) 2015, though he and other officials did not say how they plan to accomplish that goal. Speaking to reporters on ...
Hul Reaksmey and Joshua Wilwohl
http://www.cambodiadaily.com/business/plans-to-reform-economy-for-asean-integration-46469/
Cambodia vulnerable to money laundering
Cambodia is the third most at-risk country to money laundering and terrorist financing in the world, according to a global index released last month, trailing only Iran and Afghanistan. The Anti-Money Laundering Index, first published by the Swiss-based Basel Institute on Governance in 2012, assigns the ...
Zsombor Peter
http://www.cambodiadaily.com/news/cambodia-vulnerable-to-money-laundering-67363/