Banking and financial services

Banking and financial services policy and regulation

Government’s Q3 cash flow management receives praise

The Royal Government’s cash flow management from July to September 2024 (Q3) received praise from various quarters, confirmed the Ministry of Economy and Finance (MEF). ...

Sum Manet
https://www.khmertimeskh.com/501587912/governments-q3-cash-flow-management-receives-praise/

IFC and Association of Banks in Cambodia to boost green finance, support sustainable growth

To help address climate change impacts and foster a sustainable financial ecosystem in Cambodia, the International Finance Corporation (IFC) is collaborating with the Association of Banks in Cambodia (ABC) to boost the capacity of local financial institutions in the climate finance space. ...

Khmer Times Staff
https://www.khmertimeskh.com/501576152/ifc-and-association-of-banks-in-cambodia-to-boost-green-finance-support-sustainable-growth/

Banks pledge loan restructuring without affecting credit records

Representatives from banks and microfinance institutions have expressed their commitment to restructuring loans for customers facing financial difficulties, as the number and volume of such requests continue to rise. ...

Niem Chheng
https://www.phnompenhpost.com/business/banks-pledge-loan-restructuring-without-affecting-credit-records

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/

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/

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/

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/

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

NBC reports 44% surge in electronic riel transactions

National Bank of Cambodia (NBC) governor Chea Serey announced an increase in electronic transactions and payments in Cambodian riel for 2023, noting that they were 44% higher than in 2022. ...

Van Socheata
https://www.phnompenhpost.com/national/nbc-reports-44-surge-in-electronic-riel-transactions

Banks need robust cybersecurity for data privacy

In the age of digitalisation, banks play a crucial role in safeguarding the money and information of both people and businesses. However, as Cambodia embraces this digital revolution, the Kingdom also makes itself vulnerable to the constant danger of cyberattacks and breaches, putting financial data ...

Jigmee Palden Pazo
https://www.khmertimeskh.com/501444679/banks-need-robust-cybersecurity-for-data-privacy/

Microfinance sector provided $5.12B loans to 1.57M clients in 2023

The microfinance sector has provided a credit sum of $5.12 billion to 1.57 million clients, an average of $3,260 per account last year, creating direct employment for 21,567 people nationwide with a business network of 904 offices. ...

Nhean Chamrong
https://www.khmertimeskh.com/501440074/microfinance-sector-provided-5-12b-loans-to-1-57m-clients-in-2023/

Cambodia, Australia to reinforce cooperation in Banking and Financial sector

Cambodia and Australia are willing to further strengthen their banking and financial cooperation, especially in the field of green finance and financial knowledge. ...

Khmer Times Staff
https://www.khmertimeskh.com/501429861/cambodia-australia-to-reinforce-cooperation-in-banking-and-financial-sector/

Cambodia’s banking and financial industry healthy, says NBC

The banking and financial industry has remained strong despite uncertainties on global economic growth causing the bankruptcies of banks in some countries. ...

Chea Vanyuth
https://www.khmertimeskh.com/501429237/cambodias-banking-and-financial-industry-healthy-says-nbc/

Gov’t bonds reduce foreign borrowing

Since the government, through the Ministry of Economy and Finance, started issuing sovereign bonds in September 2022, they have emerged as a new financial instrument, enabling the government to augment domestic revenue, thereby reducing the need to borrow from foreign sources for infrastructure development. ...

May Kunmakara
https://www.phnompenhpost.com/post-in-depth/gov-t-bonds-reduce-foreign-borrowing

Microfinance has improved a majority of people’s life - CMA study

A study on over 3,200 microfinance borrowers from 450 villages in 10 provinces in the country has revealed that two thirds of them have seen an improvement in their lives, according to the Cambodian Microfinance Association (CMA). ...

Kiripost staff writers
https://kiripost.com/stories/microfinance-has-improved-a-majority-of-peoples-life-cma-study

‘Fintech playing key role in financial inclusion efforts’

The fintech sector is playing a major role in the financial inclusion efforts pioneered by the National Bank of Cambodia (NBC), Governor Dr Chea Serey said while delivering the keynote address at the CamTech Summit 2023 yesterday at the Centre for Banking Studies. ...

Sreekanth Ravindran
https://www.khmertimeskh.com/501399932/fintech-playing-key-role-in-financial-inclusion-efforts/

‘Fintech playing key role in financial inclusion efforts’

The fintech sector is playing a major role in the financial inclusion efforts pioneered by the National Bank of Cambodia (NBC), Governor Dr Chea Serey said while delivering the keynote address at the CamTech Summit 2023 yesterday at the Centre for Banking Studies. ...

Sreekanth Ravindran
https://www.khmertimeskh.com/501399932/fintech-playing-key-role-in-financial-inclusion-efforts/

Cambodia, China reach cooperation on financial innovation and payment system

Cambodia and China have entered into cooperation on financial innovation and clearing and settlement arrangements, to facilitate efficient and secure cross-border payment transactions between the two countries. ...

Khmer Times Staff
https://www.khmertimeskh.com/501396725/cambodia-china-reach-cooperation-on-financial-innovation-and-payment-system/

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