Banking and financial services

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. ... ...

Cambodia has seen a big jump in the use of local currency Riel over the past two decades, National Bank of Cambodia (NBC)’s Governor Chea Serey said here on Friday. ... ...

The Cambodian government recently unveiled the Cambodia Financial Technology Development Policy 2023-2028, a comprehensive strategy aimed at promoting financial innovation, ensuring financial stability, and enhancing financial inclusion in the country. ... ...

Woori Bank, one of South Korea’s leading commercial banks, is set to inject an additional $100 million into its Cambodian operations next year. This “strategic” move is in response to a notable increase in loan demand, aimed at stimulating business activities that slowed during the ...

Microfinance as a sector has been key in helping bring about economic and social development in Cambodia stressed Sok Voeun, chairman of Cambodia Microfinance Association last Friday. ... ...

Kwak Nga was still reeling from her husband’s suicide when his microfinance creditors showed up at her home to remind her that they still expected the approximate $170 (£140) monthly interest payments the couple had struggled to make. ... ...

The role played by the National Bank of Cambodia (NBC) to maintain and control financial condition through various regulatory measures has helped the country to keep inflation under check and economic growth steady despite the global headwinds. ... ...

The newly appointed governor of the National Bank of Cambodia (NBC), H.E Dr. Chea Serey, gave an in-depth interview to Khmer Times on the Bank’s as well as her priorities in her role as the Governor. ... ...

Minister of Economy and Finance Aun Pornmoniroth has announced that the Asian Development Bank (ADB) has committed to investing in projects related to climate change and private sector development. Those projects will focus on strengthening the financial sector over the next five years, in order ...

Cambodia and Thailand have reaffirmed their commitment to bolster financial collaboration, with a particular emphasis on enhancing cross-border payments to stimulate trade, tourism and investment. ... ...

Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth unveiled Cambodia’s Financial Technology (fintech) Development Policy for 2023-2028, asserting its potential to harness the advantages of digital transformation in the financial sector and invigorate the country’s socio-economic landscape. ... ...

Cambodia has unveiled its Financial Technology (Fintech) Development Policy 2023-2028, aiming to enhance financial inclusion, maintain financial stability, and promote innovation. ... ...

National Bank of Cambodia (NBC) governor Chea Serey has lauded the French government for its pivotal role in the expansion of the Kingdom’s financial industry, particularly its robust growth in the microfinance sector. ... ...

Three private institutions have come together to provide loans to small and medium enterprises (SMEs) to boost financial access for the business expansion and sustainability amid the global economic downturn. ... ...

Up to 238.7 trillion riel or $57.8 billion worth of loans were disbursed by banks and financial institutions in the first half of 2023, the National Bank of Cambodia (NBC) shared in an X post this morning, noting its increase of 10.5 percent year-on-year. ...

A Dutch government watchdog group accepted a complaint last Friday alleging that social investor Oikocredit contributed to abuses in Cambodia’s microfinance sector. ... ...

Governor of the National Bank of Cambodia (NBC) Dr. Chea Serey participated in the Vaduz Roundtable Forum on “Financial System 2023” in Vaduz, Liechtenstein, late last week, to share NBC’s experience in financial system improvement. ... ...

The Banking Jobs and Skills Summit 2023 is set to take place from September 29-30 at the National University of Management (NUM), featuring around 20 financial institutions and offering thousands of job opportunities to students. ... ...

Loans worth $54.2 million were approved by state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) for 350 businesses under the Tourism Recovery Co-Financing Scheme (TRCS) as of August 31, 2023. ... ...

The National Bank of Cambodia (NBC) has scheduled four foreign exchange auctions this September to infuse a total of $50 million into the market. The move comes at a critical time, with experts viewing it as a significant step towards stabilising the Cambodian riel against ...

The National Bank of Cambodia (NBC) will intervene in the currencies market in response to slower demand for riel and appreciation of the US dollar in the international foreign exchange market, an NBC release said. ... ...

Growth in the offtake of loans from financial institutions is forecast to be in single digits this year in Cambodia, compared to the 17 percent growth in 2022, according to the Cambodian Financial Sector Report 2023 by Mekong Strategic Capital. ... ...

Despite challenging global conditions, Cambodia’s finance sector delivered a reasonable performance in 2022 with a strong balance sheet growth, offset by higher expenses and credit costs. ... ...

Cambodian media has reported on August 25 that the State Bank of Vietnam (SBV) has signed a Memorandum of Understanding (MoU) on cooperation in regional payment connectivity with the central banks of Indonesia, Malaysia, Philippines, Singapore and Thailand. ... ...