Banking and financial services

Banking and financial services policy and regulation

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/

Cambodia unveils new Fintech Policy to drive innovation and inclusion

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. ...

Khmer Times Staff
https://www.khmertimeskh.com/501387042/cambodia-unveils-new-fintech-policy-to-drive-innovation-and-inclusion/

Role of MFIs in economic and social development crucial

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. ...

Chea Vanyuth
https://www.khmertimeskh.com/501383482/role-of-mfis-in-economic-and-social-development-crucial/

NBC policies help steady Cambodian economy

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. ...

Manoj Mathew
https://www.khmertimeskh.com/501377596/nbc-policies-help-steady-cambodian-economy/

NBC is determined to strengthen the resilience and supervision of the financial sector in Cambodia

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. ...

Khmer Times Staff
https://www.khmertimeskh.com/501377581/nbc-is-determined-to-strengthen-the-resilience-and-supervision-of-the-financial-sector-in-cambodia/

Neighbours boost cross-border financial ties

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. ...

May Kunmakara
https://www.phnompenhpost.com/business/neighbours-boost-cross-border-financial-ties

Looking forward: Cambodia unveils FinTech policy 2023-28

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. ...

Hin Pisei
https://phnompenhpost.com/business/looking-forward-cambodia-unveils-fintech-policy-2023-28

Financial Technology takes center stage in Cambodia’s economic growth plan

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

Khmer Times Staff
https://www.khmertimeskh.com/501371701/financial-technology-takes-center-stage-in-cambodias-economic-growth-plan/

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