Economy and commerce

Banking and financial services

MB selects strategic partner for commercial joint venture bank in Cambodia

MB and Shinsei Bank have signed a master agreement on the establishment of a commercial joint venture bank in Cambodia on Dec. 2. ...

Khmer Times Staff
https://www.khmertimeskh.com/50981817/mb-selects-strategic-partner-for-commercial-joint-venture-bank-in-cambodia/

Khmer Enterprise and CMA enter into partnership to boosting access to financial service for SMEs

Khmer Enterprise (KE), a unit under the Ministry of Economy and Finance and the Cambodia Microfinance Association has entered into a cooperation agreement on promoting  access to finance for entrepreneurs and SMEs in the ecosystem of Cambodia. ...

Chea Vanyuth
https://www.khmertimeskh.com/50979560/khmer-enterprise-and-cma-enter-into-partnership-to-boosting-access-to-financial-service-for-smes/

Acleda rolls out KHQR payments

Local publicly-listed Acleda Bank Plc has added support for KHQR code scanning for payments on its mobile app. ...

May Kunmakara
https://www.phnompenhpost.com/business/acleda-rolls-out-khqr-payments

Korea’s KB Kookmin Bank says completes acquisition of Prasac

South Korea’s KB Kookmin Bank, New York-listed KB Financial Group Inc’s (KB) commercial banking unit, on October 20 announced the completion of the acquisition the remaining 30 per cent interest in Prasac, Cambodia’s largest microfinance institution, as it expands its business into the Kingdom’s financial ...

May Kunmakara
https://www.phnompenhpost.com/business/koreas-kb-kookmin-bank-says-completes-acquisition-prasac

National Bank of Cambodia announces $50 million auction tomorrow

The National Bank of Cambodia has issued a notice to banks, microfinance institutions and exchange traders to participate in the auction of US $50,000,000 for October 12, 2021. ...

Khmer Times Staff
https://www.khmertimeskh.com/50949491/national-bank-of-cambodia-announces-50-million-auction-tomorrow/

NBC introduces overnight lending facility

The National Bank of Cambodia (NBC) has introduced a marginal lending facility (MLF) to address the short-term liquidity needs of banking and financial institutions in emergency situation to carry out their business operations. ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-introduces-overnight-lending-facility

Central bank sells $130M over five September forex auctions

The National Bank of Cambodia held five currency auctions from September 2-21 and sold $130 million on the foreign exchange (forex) market, meant to stabilise the riel’s fluctuations against the greenback, shore up economic activity during the ongoing health crisis and power a faster economic ...

May Kunmakara
https://www.phnompenhpost.com/business/central-bank-sells-130m-over-five-september-forex-auctions

2nd phase of business registration system up

The Royal Government of Cambodia (RGC) on September 1 deployed Phase II of its online business registration platform, known as the “Single Portal”. ...

Thou Vireak
https://www.phnompenhpost.com/business/2nd-phase-business-registration-system

Bakong-powered transactions soar

Digital payments are becoming crucial to the management of daily expenses, especially during Covid-19 when social distancing is the norm, according to National Bank of Cambodia (NBC) director-general Chea Serey. ...

May Kunmakara
https://www.phnompenhpost.com/business/bakong-powered-transactions-soar

NBC, Maybank launch fund transfers

Cambodia and Malaysia on August 11 officially launched cross-border payments through the National Bank of Cambodia’s (NBC) Bakong system with Maybank, enabling faster and more convenient real-time money transfer between the two countries. ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-maybank-launch-fund-transfers

Requests for loans drop 34% in Apr-Jun

Applications for loans in the financial sector continued to drop in the second quarter of this year over concerns regarding the coronavirus outbreak and economic repercussions of the ensuing health crisis, according to a new report. ...

May Kunmakara
https://www.phnompenhpost.com/business/requests-loans-drop-34-apr-jun

FDI inflows drop 1% to $3.5B

The value of foreign direct investment (FDI) into the Kingdom registered a slight fall in 2020 amid a much sharper contraction among non-banking sectors and uncertainty over the evolution of the Covid-19 pandemic, but inflows into the financial sector remained strong. ...

May Kunmakara
https://www.phnompenhpost.com/business/fdi-inflows-drop-1-35b

CMA: Loan restructures increasing

Restructured loans at member institutions of the Cambodia Microfinance Association (CMA) totalled about $1.5 billion as of April, according to the organisation.   ...

Brian Badzmierowski
https://www.khmertimeskh.com/50859588/cma-loan-restructures-increasing/

NBC: Fintech fuels 2020 boom in Kingdom's payment systems

Payment systems in Cambodia have seen remarkable strides in line with the evolution of financial technology (fintech) and significantly contribute to the development of the national economy, as digital transactions witness a Covid-19 boom, the National Bank of Cambodia (NBC) said in the 2020 annual ...

Thou Vireak
https://www.phnompenhpost.com/business/nbc-fintech-fuels-2020-boom-kingdoms-payment-systems

Microfinance body calls for more lending

Cambodia Microfinance Association (CMA) on April 27 urged its members to release more credit to customers as the spread of Covid-19, exacerbated by the February 20 community transmission is having a huge impact on all businesses, especially in Phnom Penh and Takmao town. ...

Hin Pisei
https://www.phnompenhpost.com/business/microfinance-body-calls-more-lending

Bank, MFIs operations go on despite lockdown

The Association of Banks in Cambodia (ABC) and the Cambodian Microfinance Association (CMA) on April 23 informed the public that business operations in the industry are continuing as normal nationwide although some areas in the provinces and capital have been placed in lockdown to curb ...

May Kunmakara
https://www.phnompenhpost.com/business/bank-mfis-operations-go-despite-lockdown

Financial institutions see jump in lockdown-era digital transactions

Financial institutions (FI) logged a sudden spike in digital transactions during lockdown, adding further to the upward momentum fuelled by rising fears triggered by a spike in new Covid-19 cases found in connection to the February 20 community transmission. ...

May Kunmakara
https://www.phnompenhpost.com/business/financial-institutions-see-jump-lockdown-era-digital-transactions

Bakong top in digital currency index

Cambodia’s digital retail ecosystem was ranked first in Asia and second globally in the PricewaterhouseCooper (PwC) inaugural Central Bank Digital Currency (CBDC) Global Index. ...

Husain Haider
https://www.khmertimeskh.com/50842250/bakong-top-in-digital-currency-index/

Banks talk about relief to farmers

The chief executive officer of the Agricultural Rural Development Bank (ARDB) and the president of ACLEDA Bank met to discuss the possibility of a joint-lending programme that would extend support to farmers in the country. ...

Brian Badzmierowski
https://www.khmertimeskh.com/50835722/banks-talk-about-relief-to-farmers/

ABC, CMA set out six debt relief measures

The Association of Banks in Cambodia (ABC) and Cambodia Microfinance Association (CMA) on April 7 ordered members to adopt six measures of financial relief in light of the economic fallout and depressed incomes caused by the February 20 community transmission of Covid-19. ...

May Kunmakara
https://www.phnompenhpost.com/business/abc-cma-set-out-six-debt-relief-measures

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