Rice loans to be disbursed soon
Cambodia’s beleaguered rice millers can now breathe a sigh of relief after a tumultuous three months in what seemed to be government ineptitude in disbursing an emergency loan of $30 million to prevent them from becoming insolvent. In June, the Cambodia Rice Federation (CRF) announced that ...
Chea Vannak
http://www.khmertimeskh.com/news/29421/rice-loans-to-be-disbursed-soon/
EDC tells banks to stop outsourcing collections
State-run energy utility Electricité du Cambodge (EdC) has asked banks and microfinance institutions (MFIs) to stop using third-party services to collect payment of customer electricity fees, local media reported yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/edc-tells-banks-stop-outsourcing-collections
Credit hunger still voracious
In its 10th year, Cambodia’s growing microfinance sector has seen stellar credit and deposit growth. But concerns remain over this speed of credit growth in the sector, as well as the rise in unlicensed lenders operating in rural areas. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/credit-hunger-still-voracious
Sovannaphum opens its first office
Sovannaphum Life Assurance Plc, a joint venture between Canadia Investment Holding and Muang Thai Life Assurance, last week officially opened its office in the Kingdom to provide services to Cambodians. ...
Sok Chan
http://www.khmertimeskh.com/news/23518/sovannaphum-opens-its-first-office/
Risky new lending service offers quick cash for a price
Sok Rasmey (not his real name) works for an NGO in Phnom Penh with a salary of $350 a month. This is usually enough to cover his modest living costs, but when urgent expenses arise, he often looks to borrow to cover his costs. Ashamed ...
Kun Kourchettana
http://www.phnompenhpost.com/business/risky-new-lending-service-offers-quick-cash-price
Amret moves up the ratings ladder
Amret Microfinance Institution, one of the largest in Cambodia’s crowded market, yesterday announced it had received an A- rating from independent rating agency Microfinanza, which is based in Italy, for improving its operation and for its strong performance over the past year. ...
May Kunmakara
http://www.khmertimeskh.com/news/23063//
Eco Park, Maybank in deal
The Singapore investor of Le Urban Eco Park, an ecologically-friendly satellite city, and Maybank have reached a deal to sell residential apartments and shop buildings in the park as the project nears completion by the end of the year. ...
Chea Vannak
http://www.khmertimeskh.com/news/25913/eco-park--maybank-in-deal/
Krungsri acquisition approved
Thailand’s Bank of Ayudhya PLC., known more commonly as Krungsri announced last week that it was entering the Cambodian microfinance market with the acquisition of Hatta Kaksekar Limited (HKL). In a press release, Krungsri ‒ itself part of the Japanese-based Mitsubishi UFJ since 2013 ‒ described ...
Sum Manet
http://www.khmertimeskh.com/news/30191/krungsri-acquisition-approved/
Thai life insurer to enter local market
Bangkok Life Assurance expects to offer life insurance policies in Cambodia by the beginning of next year, according to Thai news outlets, adding to the list of international insurers looking to tap into the Kingdom’s nascent but potentially lucrative market. ...
Matthieu de Gaudemar
http://www.phnompenhpost.com/business/thai-life-insurer-enter-local-market
Krungsri expects more growth from Cambodian MFI
Thailand’s Bank of Ayudhya released its first financial statement since completing its acquisition of Cambodian microlender Hattha Kaksekar Ltd (HKL) last month, showing a quarterly net profit increase of 10.6 percent from a year earlier. ...
Kali Kotoski
http://www.phnompenhpost.com/business/krungsri-expects-more-growth-cambodian-mfi
Mobile firms told to spread message: MFIs not state-run
Prime Minister Hun Sen on Wednesday pulled the country’s mobile operators into his aggressive campaign to clear up any confusion about the relationship between the government and microfinance institutions (MFIs), ordering them to send audio and text messages telling subscribers that MFIs were private entities. ...
Kuch Naren
https://www.cambodiadaily.com/news/mobile-firms-told-to-spread-message-mfis-not-state-run-125665/
CMA launches fund to strengthen MFI staffing
The Cambodia Microfinance Association (CMA) has announced that it will establish a staff development fund to stem the tide of cross-institutional recruitment in the competitive microfinance institution (MFI) sector. ...
Post Staff
http://www.phnompenhpost.com/business/cma-launches-fund-strengthen-mfi-staffing
Press release on the setting of interest rate cap
On 13 March 2017, the National Bank of Cambodia (NBC) issued a press release on the setting of interest rate cap of 18 percent per annum for microfinance institutions, deposit-taking MFIs and licensed rural credit institutions to help the poor, curb over-indebtedness and reduce poverty, ...
National Bank of Cambodia
ANZ Royal home loan center
More Cambodians took out home loans last year than the year before, prompting banks like ANZ Royal to provide specialized services for the growing sector. ...
May Kunmakara
http://www.khmertimeskh.com/news/36508/anz-royal-home-loan-center/
Microlender in monster deal
Hong Kong financial giant The Bank of East Asia and Sri Lanka’s LOLC announced on Friday that they have jointly acquired a majority stake in Prasac Microfinance, Cambodia’s largest microfinance institution (MFI) by assets, in what could be the largest acquisition of a Cambodian lender ...
Kali Kotoski
http://www.phnompenhpost.com/business/microlender-monster-deal
Microloans work for some, leave many in debt
Nearly everyone living in Pann Sopheatra’s village, just across the Mekong River from Phnom Penh, has either taken out a microfinance loan or knows someone who has. ...
Matt Surrusco and Buth Kimsay
https://www.cambodiadaily.com/news/microloans-work-for-some-leave-many-in-debt-126762/
MFI slowdown: real or illusory?
After several years of rapid growth, the expansion of credit provided by the Kingdom’s myriad microfinance institutions (MFIs) stalled abruptly last year, raising concerns poorer Cambodians could be pushed toward loan sharks to obtain credit or cover their debts, the World Bank said in its ...
Hor Kimsay
http://www.phnompenhpost.com/business/mfi-slowdown-real-or-illusory
Home loans fast gaining traction
Acleda Bank has provided $40 million to customers in the form of housing loans since the start of 2017, marking a growing trend of home loans being taken out across the country. ...
Siv Meng
http://www.phnompenhpost.com/post-property/home-loans-fast-gaining-traction
Risk puts brakes on movable assets
Access to credit would increase dramatically if Cambodian borrowers could put up movable assets as collateral, but lenders say much more needs to be done to remove the risks associated with these assets, including the establishment of a legal framework that would restrict changes in ...
Hor Kimsay
http://www.phnompenhpost.com/business/risk-puts-brakes-movable-assets
GMS gets closer to a food safety strategy
A draft five-year strategy for promoting safe and environment-friendly agriculture products in the Greater Mekong Subregion (GMS) that would enhance regional food safety and promote trade is expected to be finalised today, according to the Asian Development Bank. ...
Sok Chan
http://www.khmertimeskh.com/news/40334/gms-gets-closer-to-a-food-safety-strategy/