Economy and commerce

Banking and financial services

Workshop celebrates financial literacy initiative

A workshop highlighting the outcomes of the “Strengthen Safe Finance in Communities” project was held in Phnom Penh yesterday, on October 8. It brought together key stakeholders from Cambodia’s banking, microfinance, and financial oversight institutions. This initiative, designed to promote financial literacy and consumer protection, ...

Hong Raksmey
https://www.phnompenhpost.com/business/workshop-celebrates-financial-literacy-initiative

Serey says NBC dedicated to fostering fintech adoption

Chea Serey, Governor of the National Bank of Cambodia (NBC), yesterday called on the private sector to foster financial and technology (fintech) adoption, innovation and fair competition as the national bank is working to create a system that allows consumers to make payments with just ...

Nhean Chamrong
https://www.khmertimeskh.com/501561896/serey-says-nbc-dedicated-to-fostering-fintech-adoption/

Consumer loans swell by 12%, reflecting banking industry growth

Consumer loans increased by 12 percent in the first half of 2024 compared to the previous year’s figure of 10.5 percent, said Association of Banks in Cambodia (ABC) Chairman and MayBank CEO Rath Sophoan at the Cambodia Banking Conference 2024, on Thursday. ...

Rachel David
https://www.khmertimeskh.com/501546093/consumer-loans-swell-by-12-reflecting-banking-industry-growth/

Resilience and innovation in banking sector highlighted at conference

The 2024 Cambodia Banking Conference, held in Phnom Penh from August 22-23, brought together industry leaders, policymakers and international partners to discuss the future of the country’s banking sector in the face of global economic challenges. ...

Hong Raksmey
https://www.phnompenhpost.com/business/resilience-and-innovation-in-banking-sector-highlighted-at-conference

Cambodia launches tourist app enabling payments with KHQR

The National Bank of Cambodia (NBC) on Monday launched the ‘Bakong Tourists App’ helping foreign tourists in Cambodia to make payments using the country’s universal KHQR code at over 3.3 million retail merchant outlets. ...

Manoj Mathew
https://www.khmertimeskh.com/501544895/cambodia-launches-tourist-app-enabling-payments-with-khqr/

Cambodian Banking and Financial Associations implement new rules to strengthen operations and consumer protection

The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) have introduced new regulations to enhance responsible business practices and bolster consumer protection in the country’s banking and financial sectors. Announced on Friday, the new rules are designed to promote a sustainable ...

Khmer Times Staff
https://www.khmertimeskh.com/501543235/cambodian-banking-and-financial-associations-implement-new-rules-to-strengthen-operations-and-consumer-protection/

Credit cards in Cambodia grow 20 percent in 2023

Credit cards in Cambodia have grown 20 percent in 2023, showing that customers have become more savvy in using new financial instruments. ...

Rachel David
https://www.khmertimeskh.com/501539693/credit-cards-in-cambodia-grow-20-percent-in-2023/

Credit cards in Cambodia grow 20 percent in 2023

Credit cards in Cambodia have grown 20 percent in 2023, showing that customers have become more savvy in using new financial instruments. ...

Rachel David
https://www.khmertimeskh.com/501539693/credit-cards-in-cambodia-grow-20-percent-in-2023/

More Cambodian borrowers of MFIs are buying land than selling

The financial standing of Cambodian borrowers has seen improvement over the years in many cases, as per data with the Cambodian Microfinance Association (CMA). ...

Rachel David
https://www.khmertimeskh.com/501523109/more-cambodian-borrowers-of-mfis-are-buying-land-than-selling/

Cambodia-Singapore Financial Transparency Corridor Initiative launched

The Financial Transparency Corridor (FTC) Initiative between Cambodia and Singapore was launched in Singapore this evening to catalyse increased trade and cross-border related financial services between small and medium-sized enterprises (SMEs) in the two countries. ...

Khmer Times Staff
https://www.khmertimeskh.com/501508569/cambodia-singapore-financial-transparency-corridor-initiative-launched/

Loan-to-deposit ratio normalising in 2024, say bankers

A number that might be of concern in Cambodia’s banking system is its loans versus deposits. For 2023, Cambodia’s banks total loans outstanding was $57.6 billion and total deposits $47.9 billion.  ...

Rachel David
https://www.khmertimeskh.com/501505072/loan-to-deposit-ratio-normalising-in-2024-say-bankers/

Banks projected to grow at 10 percent in 2024

Cambodian banks might see growth of around 10 percent in 2024, said bankers. Industry insiders say that the banking growth of the past of 20 percent is no longer possible. ...

Rachel David
https://www.khmertimeskh.com/501503722/banks-projected-to-grow-at-10-percent-in-2024/

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/

New strategy to boost Cambodia’s financial sector, says Serey

The new financial development strategy for the next five years aims to help the financial sector bag greater achievements as it supports inclusive economic development, contributing to reducing poverty nationwide, said Chea Serey, Governor of the National Bank of Cambodia (NBC). ...

Nhean Chamrong
https://www.khmertimeskh.com/501489146/new-strategy-to-boost-cambodias-financial-sector-says-serey/

$30M credit guarantee scheme for rice inked

The state-owned Credit Guarantee Corporation of Cambodia (CGCC), Cambodia Rice Federation (CRF) and participating financial institutions (PFIs) signed an agreement on the $30 million Rice Export Guarantee Scheme (REGS) to help millers stockpile rice for milling, processing, exporting and making local value-added products. ...

Chea Vanyuth
https://www.khmertimeskh.com/501487226/30m-credit-guarantee-scheme-for-rice-inked/

Fintech helped us reduce costs, NBC Governor tells Dubai Fintech Summit

Adoption of digital payments has helped in reducing remittance costs, said Chea Serey, Governor, National Bank of Cambodia at a panel discussion on ‘Sustainable Capital: Environmentally Consolidated Finance’ on Monday at the Dubai Fintech Summit in UAE. ...

Khmer Times Staff
https://www.khmertimeskh.com/501485201/fintech-helped-us-reduce-costs-nbc-governor-tells-dubai-fintech-summit/

Working capital loans form 54% of small business needs

Cambodians running small businesses are continuing to find the need for working capital as their most pressing need, as per data. As high as 54 percent of 1.89 million loans issued were for working capital, as per the first quarter report of the Small Business ...

Rachel David
https://www.khmertimeskh.com/501482273/working-capital-loans-form-54-of-small-business-needs/

Higher for Longer – The impact of higher interest rates in Cambodia

We do not need to be a rocket scientist to deduce that higher interest rates often cause more pain than (being a) panacea. ...

Mr Raymond Sia, CEO, Canadia Bank
https://www.khmertimeskh.com/501479396/higher-for-longer-the-impact-of-higher-interest-rates-in-cambodia/

NBC, ERIA join hands to develop strategy for green digital finance

The National Bank of Cambodia (NBC) and the Economic Research Institution for ASEAN and East Asia have recently entered cooperation to develop a strategy for green digital finance in Cambodia. ...

Chea Vanyuth
https://www.khmertimeskh.com/501479400/nbc-eria-join-hands-to-develop-strategy-for-green-digital-finance/

Women clients of MFIs save 9% more than men, says study

Women clients of micro-finance institutions (MFIs) tend to have 9 percent more savings than men on average, as per a recent study. ...

Rachel David
https://www.khmertimeskh.com/501471592/women-clients-of-mfis-save-9-more-than-men-says-study/

ABC vows to increase riel usage

The Association of Banks in Cambodia (ABC) has committed to further increase the usage of riel through its members’ operations, as the local currency is now increasingly used in cash and digital transactions. ...

Chea Vanyuth
https://www.khmertimeskh.com/501470948/abc-vows-to-increase-riel-usage/

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

Loans offered to struggling tourism Siem Reap businesses

The government is offering tourism-related businesses in Siem Reap struggling from the slow tourist rebound a share of a $50 million pot of loans to keep operations afloat, however, concerns have been raised that the 6.5 percent interest rate may be too high for some. ...

Yatt Malai
https://kiripost.com/stories/loans-offered-to-struggling-tourism-siem-reap-businesses

Contact us

Contact us

Do you have questions on the content published by Open Development Cambodia (ODC)? We will gladly help you.

Have you found a technical problem or issue on the Open Development Cambodia (ODC) website?

Tell us how we're doing.

Do you have resources that could help expand the Open Development Cambodia (ODC) website? We will review any map data, laws, articles, and documents that we do not yet have and see if we can implement them into our site. Please make sure the resources are in the public domain or fall under a Creative Commons license.

File was deleted
ERROR!

Disclaimer: Open Development Cambodia (ODC) will thoroughly review all submitted resources for integrity and relevancy before the resources are hosted. All hosted resources will be in the public domain, or licensed under Creative Commons. We thank you for your support.

tVw2C
* The idea box couldn't be blank! Something's gone wrong, Please Resubmit the form! Please add the code correctly​ first.

Thank you for taking the time to get in contact!