Economy and commerce
Banking and financial services
True money to extend services to Niron MFI
Mobile payment provider True Money Cambodia signed a memorandum of understanding with local microfinance institution Niron Mikroheranhvatho Plc on Friday to facilitate bill payments for the microlender’s 60,000 customers. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/true-money-extend-services-niron-mfi
Central Bank to put focus on MFIs
“The Microfinance Sector in Cambodia: Opportunities and Risks” is an attempt to get a wider view and deeper insight from various researchers on fostering a robust, stable and sustainable microfinance sector, the National Bank of Cambodia (NBC) said in a statement yesterday. ...
May Kunmakara
http://www.khmertimeskh.com/news/24373/central-bank-to-put-focus-on-mfis/
Current account deficit rises to $542M in 4Q15
Cambodia’s current account balance deficit was the equivalent of $542 million in the fourth quarter of 2015, the equivalent of 11.5 per cent of GDP, the National Bank of Cambodia said in a report released yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/current-account-deficit-rises-542m-4q15
Sathapana shifts from MFI to commercial bank
Sathapana Microfinance Plc., the third largest MFI in Cambodia, has officially transformed itself into a commercial bank with total capital of $120 million, a move in line with Japanese-owned Maruhan Japan Bank acquiring a 95.1 percent stake in 2012. ...
Sum Manet
http://www.khmertimeskh.com/news/24144/sathapana-shifts-from-mfi-to-commercial-bank/
Post office Wings e-commerce deal
Cambodia Post Office (CPO) and Wing (Cambodia) Specialized Bank have signed a partnership allowing Wing customers to transfer money and pay bills through the government agency as the post office moves into e-commerce. ...
May Kunmakara
http://www.khmertimeskh.com/news/24146/post-office-wings-e-commerce-deal/
Construction insurance trails boom
Despite strong growth in investment in the construction sector, investors, builders and developers still largely neglect insurance on projects, industry and government officials say. ...
Sum Manet
http://www.khmertimeskh.com/news/24090/construction-insurance-trails-boom/
NBC reveals interbank fund payment service
The National Bank of Cambodia will launch a new payment system to increase inter bank activity in a move to shore up confidence in the Kingdom’s rapidly expanding banking sector, it said in a press release yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/nbc-reveals-interbank-fund-payment-service
Acleda e-commerce hits $500,000 a month
Acleda Bank Plc., the country’s largest commercial bank by branches, has seen rapid growth in online transactions – now about $500,000 a month – since it launched its e-commerce payment gateway late last year, a senior executive at the bank said yesterday. ...
Sum Manet
http://www.khmertimeskh.com/news/24022/acleda-e-commerce-hits--500-000-a-month/
Cambodian investment by fund with $1 billion ambition to increase sustainability-focused banking
Sustainability Finance Real Economies SICAV – SIF (SFRE, pronounced Sapphire) has made an investment totalling USD 4 million in PRASAC (Cambodia) a microfinance institution, in line with its strategy of advancing social, environmental and economic development by providing capital to banks. ...
SECC signs deal for better governance
Cambodia’s securities regulator signed a memorandum of understanding with the International Finance Corporation (IFC) yesterday for technical assistance on corporate governance standards and practices in the Cambodian capital market. ...
Post Staff
http://www.phnompenhpost.com/business/secc-signs-deal-better-governance
Acleda among Top 100 banks
Aceleda Bank was the only Cambodian bank to make The Banker’s Top 100 ASEAN Banks 2016 list, and saw the largest jump up the rankings among all entries, securing the 88th position on the financial publication’s annual list, up from 97th last year. ...
Sor Chandara
http://www.phnompenhpost.com/business/acleda-among-top-100-banks
Export credit insurance taking off
Export credit insurance is still taking off in Cambodia, but more companies are beginning to take advantage of it, a senior executive from Forte Insurance Company said yesterday. ...
Sok Chan
http://www.khmertimeskh.com/news/23690/export-credit-insurance-taking-off/
Treasury sets sights on CLMV countries for coin minting
As Thailand is surrounded by neighbouring countries that only circulate banknotes, the Royal Thai Mint is eyeing Cambodia, Laos, Myanmar and Vietnam (CLMV) for its regional expansion plan. Deputy director-general of the Treasury Department Werawut Sripaoraya said that officials would tour Laos and Cambodia this year ...
Kang Soon Chen
http://www.nationmultimedia.com/business/Treasury-sets-sights-on-CLMV-countries-for-coin-mi-30283175.html
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/
National bank ups cash reserve requirements
The National Bank of Cambodia (NBC) has doubled the minimum capital requirements for commercial banks and significantly raised the requirements for microfinance institutions in a move experts say will protect and consolidate the country’s banking sector. ...
Kang Sothear and Tej Parikh
https://www.cambodiadaily.com/news/national-bank-ups-cash-reserve-requirements-110398/
Sathapana to become a commercial bank
Sathapana Microfinance Plc, one of the largest in Cambodia, will officially transform itself into a commercial bank late next month, a move in line with Japanese-owned Maruhan Bank acquiring a 95.1 percent stake in 2012. ...
May Kunmakara
http://www.khmertimeskh.com/news/23125/sathapana-to-become-a-commercial-bank/
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//
Central bank pushes use of national currency on anniversary
The National Bank of Cambodia (NBC) marked the 36th anniversary of its reintroduction of the national currency on Sunday, using the event to continue its calls to boost use of the riel in a highly dollarized economy. ...
Kang Sothear
https://www.cambodiadaily.com/news/central-bank-pushes-use-of-national-currency-on-anniversary-110161/
MFI joins effort to push a Riel economy
Prince Finance Plc is moving to support the efforts of the National Bank of Cambodia (NBC) to promote the use of the riel by using the domestic currency in all transactions, fees, loans and staff salaries, the microfinance institution’s managing director, Hon Sorachana, told a ...
Sok Chan
http://www.khmertimeskh.com/news/22971/mfi-joins-effort-to-push-a-riel-economy/
Microfinance success stories from the countryside
When Chheung Rattana was married a few years ago, the only thing she and her new husband inherited from their families was a small plot of land to grow rice on. It was a tough start for the newlyweds, who decided that the only way ...
May Kunmakara
http://www.khmertimeskh.com/news/22923/microfinance-success-stories-from-the-countryside/
MFIs moving swiftly on mobile banking
Microfinance institutions (MFIs) have been expanding their financial services to include the use of mobile phones, a move aimed at boosting services for people in rural areas who find it difficult or expensive to travel to offices in towns or villages. ...
Chea Vannak
http://www.khmertimeskh.com/news/22797/mfis-moving-swiftly-on-mobile-banking/
Maybank opens new office in Cambodia
Malayan Banking Bhd (Maybank) is further strengthening its operations in Cambodia with the launch of Maybank Tower, a new 10-storey corporate office in the country. ...
The Star Team
http://www.thestar.com.my/business/business-news/2016/03/15/maybank-opens-new-office-in-cambodia/
PM urges tighter rules on micro loans
Prime Minister Hun Sen told a summit on micro-finance development yesterday that stricter rules needed to be applied to organizations and institutions lending money as many people were being cheated, embezzled and losing their collateral to unscrupulous lenders. ...
Chea Vannak
http://www.khmertimeskh.com/news/22751/pm-urges-tighter-rules-on-micro-loans/
National Bank to launch financial literacy campaign
A campaign will be launched country-wide to educate the public about how to properly use financial services, a forum on microfinance in Phnom Penh was told yesterday. ...
Sok Chan
http://www.khmertimeskh.com/news/22735/national-bank-to-launch-financial-literacy-campaign/