Losing 104 rural credit agencies ‘may allow growth’ in finance sector
The central bank’s recent revocation of the operating licences of 104 rural credit institutions (RCI) – nearly half – should not have significant ramifications on the Kingdom’s wider financial system, industry insiders and observers have assured. ...
MFIs seek boosting financial literacy at communal level
A project to strengthen financial literacy at the local level has been launched to promote knowledge related to finance, rights, and client protection as well as to increase clients’ access to formal financial services within communities. ...
Ou Sokmean
https://cambodianess.com/article/mfis-seek-boosting-financial-literacy-at-communal-level
Education Ministry to push STEM in senior high school
The Ministry of Education, Youth and Sport (MoEYS) will promote the development of education in science and technology and focus on science, technology, engineering, and mathematics (STEM) skills in secondary schools. ...
Hang Punreay
https://www.khmertimeskh.com/501332506/education-ministry-to-push-stem-in-senior-high-school/
Cambodian PM meets leaders of Vietnamese companies
Cambodian Prime Minister Hun Manet received yesterday in Hanoi Mr. PhanDucTu, Board Chairman of the Bank for Investment and Development of Vietnam (BIDV), during his stay in Vietnam for a two-day official visit. ...
Khmer Times Staff
https://www.khmertimeskh.com/501406158/cambodian-pm-meets-leaders-of-vietnamese-companies/
Businesses urged to prioritise riel for salary payments
The Governor of the National Bank of Cambodia (NBC), Chea Serey, is encouraging companies and enterprise owners to offer salaries in riel, as the majority of Cambodian workers are paid in dollars. ...
Mao Sreypich
https://kiripost.com/stories/businesses-urged-to-prioritise-riel-for-salary-payments
ARDB, APRACA sign MoU to create CoE on green financing
Agricultural and Rural Development Bank (ARDB) and Asia-Pacific Rural and Agricultural Credit Association (APRACA) Thursday signed a Memorandum of Understanding (MoU) to create the Center of Excellence (CoE) to conduct research on green financing in agriculture in Cambodia. ...
Mom Kunthea
https://www.khmertimeskh.com/501539675/ardb-apraca-sign-mou-to-create-coe-on-green-financing/
National Bank of Cambodia slams NGOs’ lending report
The National Bank of Cambodia (NBC) on Thursday slammed a report on predatory lending in the Kingdom by local human rights NGOs Licadho and Sahmakum Teang Tnaut (STT), which was released on Wednesday, as “flawed”. The report, entitled Collateral Damage, claimed that increasing levels of ...
Thou Vireak
https://www.phnompenhpost.com/business/national-bank-cambodia-slams-ngos-lending-report
NBC revokes licenses of 11 rural credit institutions
The National Bank of Cambodia on Wednesday announced it is revoking the licenses of 11 rural credit institutions and rejecting license applications from 12 other credit organisations. ...
May Kunmakara
https://www.khmertimeskh.com/50503744/nbc-revokes-licenses-of-11-rural-credit-institutions/
ADB approves $60 million loan for skills training
Asian Development Bank yesterday approved a $60 million loan to Cambodia to boost labor skills and competitiveness and help the government’s efforts to transit the economy into a skills-driven one. Cambodia is ranked 110th out of 140 economies in the 2018 Global Competitiveness Report, based on ...
May Kunmakara
https://www.khmertimeskh.com/50617576/adb-approves-60-million-loan-for-skills-training/
Mekong summit sees $66B worth of projects agreed to
Six countries pledged to enact $66 billion worth of projects over the next five years at the Greater Mekong Subregion (GMS) Summit in Hanoi on Saturday, with Cambodia-specific projects scheduled to receive the least amount of funding of any participant. ...
Robin Spiess
https://www.phnompenhpost.com/business/mekong-summit-sees-66b-worth-projects-agreed
MFI loans, deposits grow in first nine months of this year
Outstanding loans and deposits in Cambodia’s crowded microfinance institution (MFI) sector have seen a sharp rise in the first three quarters of this year. ...
May Kunmakara
https://www.phnompenhpost.com/business/mfi-loans-deposits-grow-first-nine-months-year
Including the poor in a financial ecosystem
Financial markets in Cambodia have to serve more people, especially the poor, with more products at a lower cost and the key challenge lies in creating a broader interconnected financial ecosystem that reaches populations that cannot access banks, said industry experts. ...
Chea Vannak
http://www.khmertimeskh.com/news/27265/including-the-poor-in-a-financial-ecosystem/
Credit life insurance provides a safety net for borrowers
More Cambodians than ever are turning to microfinance for money to cover their small business endeavours or pay expenses, and, increasingly, they are looking to protect their families from the burden of these debts in the event of death or disability. ...
Hor Kimsay
http://www.phnompenhpost.com/business/credit-life-insurance-provides-safety-net-borrowers
MFI lending continues on course
Cambodia’s microfinance sector continued to expand rapidly during the first half of the year, despite concerns over rising default rates as the industry’s main borrowers – provincial farmers – struggle to repay their loans after successive seasons of drought and poor harvests. ...
Hor Kimsay
http://www.phnompenhpost.com/business/mfi-lending-continues-course
MFI seeks licence to operate as a commercial bank
Sathapana Ltd, the third-largest microfinance institution (MFI) in Cambodia, has submitted a formal application to the central bank to merge with a local Japanese-owned bank and operate the consolidated entity as a commercial bank, a company executive said yesterday. ...
Sor Chandara
http://www.phnompenhpost.com/business/mfi-seeks-licence-operate-commercial-bank
Prince MFI opens in an expanding market
Prince Microfinance Plc held its official opening yesterday, becoming the 49th registered microlender to operate in Cambodia’s rapidly expanding microfinance market.Hon Sorachana, CEO of Prince Microfinance Plc, said the new financial institution will focus on providing a range of credit options to Cambodians and foreigners, ...
Kun Kourchettana
http://www.phnompenhpost.com/business/prince-mfi-opens-expanding-market
Mammoth year in kingdom’s microfinance sector
Cambodia’s microfinance sector experienced another year of explosive growth, with both lending and deposits surging over 40 per cent in 2015, according to new data by an industry association. ...
Cam McGrath and Cheng Sokhorng
http://www.phnompenhpost.com/business/mammoth-year-kingdoms-microfinance-sector
A clearer picture for lenders
The double-digit growth of consumer lending in Cambodia has created a need for a comprehensive and centralised database of individual credit histories. The Post’s Cam McGrath sat down with Pascal Ly, CEO of the Credit Bureau Cambodia (CBC), to discuss the role of the Kingdom’s ...
Cam McGrath
http://www.phnompenhpost.com/business/clearer-picture-lenders
More Cambodians struggling to repay MFI loans
Banking industry insiders expressed concern yesterday over a spike in the amount of delinquent debts reported by microfinance institutions (MFIs) across the Kingdom, which they attributed to farmers struggling to repay their loans after adverse weather conditions affected their crops. ...
Hor Kimsay
http://www.phnompenhpost.com/business/more-cambodians-struggling-repay-mfi-loans
Mobile services often first step to banking
The rapid growth in the number of Cambodians using mobile money services to transfer remittances is a positive step towards greater financial inclusion, and is serving as a gateway to financial services for the largely unbanked rural population, experts said yesterday. ...
Hor Kimsay
http://www.phnompenhpost.com/business/mobile-services-often-first-step-banking