Banking and financial services

Banking and financial services policy and regulation

Cambodia Securities Exchange open for liquidity provider applications

The Cambodia Securities Exchange (CSX) officially began receiving applications for liquidity providers yesterday as part of an initiative to boost market liquidity, it said in a press release. ...

Post Staff
http://www.phnompenhpost.com/business/cambodia-securities-exchange-open-liquidity-provider-applications

Bank deposits get protection

The Kingdom’s central bank ‒ the National Bank of Cambodia (NBC) ‒ is working closely with experts from the US Treasury to set up a depositors’ protection scheme among banks in the country. This move was welcomed by the country’s banking industry with CEOs saying ...

May Kunmakara
http://www.khmertimeskh.com/news/27744/bank-deposits-get-protection/

Ministry wants tourism businesses to accept Chinese Yuan

The Tourism Ministry has started urging businesses and tour operators to accept Chinese yuan notes as part of a drive to attract tourists from China, sparking concern among some business owners who fear losses and fake currency. ...

Kang Sothear and Michael Dickison
https://www.cambodiadaily.com/news/115814-115814/

MFIs tackle over-indebtedness

Clients of microfinance institutions (MFIs) in the Kingdom can now expect some form of protection from over-indebtedness that arises from their inability to meet their financial obligations on time as agreed in a credit agreement. ...

Sok Chan
http://www.khmertimeskh.com/news/27142/mfis-tackle-over-indebtedness/

Revenue from customs and excise up 20 per cent

Revenue collected by the customs and excise department jumped nearly 20 per cent during the first six months of the year, compared with the same period a year earlier, figures released yesterday show. ...

Post Staff
http://www.phnompenhpost.com/business/revenue-customs-and-excise-20-cent

Wing to process business registry fees

The Ministry of Commerce has tapped Wing (Cambodia) Ltd Specialised Bank to be the fourth financial institution designated to handle payments for companies incorporated using the ministry’s online registration system. ...

Hor Kimsay
http://www.phnompenhpost.com/business/wing-process-business-registry-fees

Memorandum to fight money laundering

The General Department of Taxation (GDT) signed a memorandum of understanding with the Financial Intelligence Unit of the National Bank of Cambodia (FIUNBC) to exchange information on money laundering and the financing of terrorist activities. ...

Sum Manet
http://www.khmertimeskh.com/news/26678/memorandum-to-fight-money-laundering/

Central bank allays dollar concerns

The National Bank of Cambodia responded to rumours yesterday that local banks were no longer accepting US dollar banknotes with minor imperfections, such as small tears, creases or ink stamps, stating that the central bank had not changed its policies. ...

Hor Kimsay
http://www.phnompenhpost.com/business/central-bank-allays-dollar-concerns

Gov’t calls for microfinance NGOs to register with NBC

A government official lambasted the slow application rate for non-governmental organizations (NGOs) that operate as microfinance lenders, urging them to register with the National Bank of Cambodia (NBC). ...

Kali Kotoski and Cheng Sokhorng
http://www.phnompenhpost.com/business/govt-calls-microfinance-ngos-register-nbc

Forum on financing to be held in Phnom Penh

Five international financial institutions will join forces with the National Bank of Cambodia (NBC) to hold the 1st Mekong Financial Inclusion Forum in Phnom Penh in July to explore and discuss the differences, similarities and opportunities for achieving financial inclusion in this unique region. ...

May Kunmakara
http://www.khmertimeskh.com/news/24603/forum-on-financing-to-be-held-in-phnom-penh/

Riel fund transfers to expand under FAST system

Two weeks since the central bank launched its FAST system, which provides instant riel-denominated fund transfers between banking institutions, operations are running smoothly, with usage of the new electronic payment system expected to pick up as it integrates more customers.   ...

Kali Kotoski
http://www.phnompenhpost.com/business/riel-fund-transfers-expand-under-fast-system

Acleda’s first-quarter profits up 21 per cent

ACLEDA Bank announced its first-quarter results for 2016 on Friday, reporting $30.19 million in profit for the quarter, up almost 21 per cent compared to the same period last year.   ...

Post Staff
http://www.phnompenhpost.com/business/acledas-first-quarter-profits-21-cent

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

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

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

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/

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/

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