Banking and financial services
Micro-finance
Microfinance ‘bad loans’ fall to 2.27% in October
The microfinance sector’s nonperforming loan (NPL) ratio decreased from 2.56 percent in September to 2.27 percent in October after rising from 1.33 percent in January and peaking in May at 2.61 percent. ...
Harrison White
https://www.khmertimeskh.com/50788275/microfinance-bad-loans-fall-to-2-27-in-october/
Book published on history of Kingdom’s microfinance industry
National Bank of Cambodia yesterday launched a book called “Building Inclusive Finance”. It traces the development of microfinance in Cambodia from its origins in rural development programmes in the early 1990s to the globalised industry it is today. The book was written by Ron Bevacqua, ...
Sok Chan
https://www.khmertimeskh.com/50762147/book-published-on-history-of-kingdoms-microfinance-industry/
A serious concern: Cambodians’ $8 billion microfinance debt
Impending COVID-19 health measures and high levels of micro debt pose a serious concern for the approximately 2.4 million Cambodians with a combined outstanding debt of $8 billion, according to a World Bank report released this week. ...
Harrison White
https://www.khmertimeskh.com/50708402/a-serious-concern-cambodians-8-billion-microfinance-debt/
Microfinance commits to fulfilling tax obligations
Cambodia Microfinance Association (CMA) yesterday said it has taken steps to fulfill its tax obligations to the government. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50696115/microfinance-commits-to-fulfilling-tax-obligations
MFI loans, deposits grow in first nine months of this year
Outstanding loans and deposits in Cambodia’s crowded microfinance institution (MFI) sector have seen a sharp rise in the first three quarters of this year. ...
May Kunmakara
https://www.phnompenhpost.com/business/mfi-loans-deposits-grow-first-nine-months-year
Report: 28.1% of Cambodians take out loans for healthcare
A new report has found that 28.1 per cent of Cambodians borrow money to pay for healthcare, with microfinance insiders claiming it does not reflect the reality in the financial sector. The University of New South Wales (UNSW) surveyed 5,000 households across Cambodia and found ...
Thou Vireak
https://www.phnompenhpost.com/business/report-281-cambodians-take-out-loans-healthcare
The macro challenges in Cambodia’s microfinance sector
In August, two local Cambodian organizations, Licadho and Sahmakum Teang Tnaut (STT) published Collateral Damage: Land Loss and Abuses in Cambodia’s Microfinance Sector, a report about the dangerous growth of the country’s microfinance sector. It spotlighted an issue that researchers have been warning about for years. A report ...
David Hutt
https://thediplomat.com/2019/10/the-macro-challenges-in-cambodias-microfinance-sector/
State Bank of Vietnam strengthens relations with Cambodian partner
The State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) held a bilateral meeting in Phnom Penh, Cambodia on September 16 to exchange and share experiences on macroeconomic management, especially in finance and banking. ...
Nhan Dan Newspaper
https://en.nhandan.org.vn/business/item/7922402-state-bank-of-vietnam-strengthens-relations-with-cambodian-partner.html
NGOs slammed over retraction refusal
The government yesterday slammed rights group Licadho and Sahmakum Teang Tnaut for refusing to attend a scheduled meeting and make a public statement retracting a critical report on the negative impacts of microloans. Last week, the two NGOs defended their research during a meeting with the ...
Ben Sokhean
https://www.khmertimeskh.com/50642142/ngos-slammed-over-retraction-refusal/
NGOs ordered to retract MFI report
The government yesterday ordered two NGOs to retract a critical report on the negative impacts of microloans after summoning their representatives for a meeting to defend their research. The report, published last month by Licadho and Sahmakum Teang Tnaut, featured seven case studies of abuse chosen ...
Khuon Narim
http://Khuon Narim
NGOs invited to discuss MFI report
Officials of NGOs Licadho and Sahmakum Teang Tnaut will attend a closed-door meeting at the Council of Ministers on Wednesday to explain the findings of their recent report claiming that increasing levels of debt at microfinance institutions (MFIs) has resulted in human rights violations. ...
Khorn Savi
https://www.phnompenhpost.com/national/ngos-invited-discuss-mfi-report
National Bank of Cambodia slams NGOs’ lending report
The National Bank of Cambodia (NBC) on Thursday slammed a report on predatory lending in the Kingdom by local human rights NGOs Licadho and Sahmakum Teang Tnaut (STT), which was released on Wednesday, as “flawed”. The report, entitled Collateral Damage, claimed that increasing levels of ...
Thou Vireak
https://www.phnompenhpost.com/business/national-bank-cambodia-slams-ngos-lending-report
Report: MFI loans force land sales, increase in child labour
A report from local human rights NGOs Licadho and Sahmakum Teang Tnaut (STT) claimed that the increasing levels of debt caused by taking loans from microfinance institutions (MFIs) is forcing rural families to sell off land. The study also claimed that the sharp rise in debt ...
Thou Vireak
https://www.phnompenhpost.com/business/report-mfi-loans-force-land-sales-increase-child-labour
Bank loan portfolios set to be at least 10% in local currency
Cambodian commercial banks are showing a stronger preference to provide riel loans to microfinance institutions (MFI) as they rush to increase the share of local currency in their loan portfolio to at least 10 per cent by the end of next year. ...
Hor Kimsay
https://www.phnompenhpost.com/business/bank-loan-portfolios-set-be-least-10-local-currency
Fresh round of MFI license cancellations by NBC
The National Bank of Cambodia (NBC) has rejected two license applications and revoked the licenses of 24 microfinance institutions operating outside the capital, according to an announcement released Wednesday. ...
Sum Manet
https://www.khmertimeskh.com/50531273/fresh-round-of-mfi-license-cancellations-by-nbc/
NBC revokes licenses of 11 rural credit institutions
The National Bank of Cambodia on Wednesday announced it is revoking the licenses of 11 rural credit institutions and rejecting license applications from 12 other credit organisations. ...
May Kunmakara
https://www.khmertimeskh.com/50503744/nbc-revokes-licenses-of-11-rural-credit-institutions/
NBC warns against unlicensed deposit schemes
The National Bank of Cambodia issued a letter on Wednesday clarifying that only seven microfinance institutions (MFIs) are licensed to accept deposits from the public. The notification came after the central bank noticed several “rural credit operators” – institutions smaller than a typical MFI that ...
Hor Kimsay
https://www.phnompenhpost.com/business/nbc-warns-against-unlicensed-deposit-schemes
Japan firm eyes stake in local MFI Chamroeun
Cambodian microfinance institution (MFI) Chamroeun Microfinance Plc is negotiating with Japanese firm Renet Japan Group to sell a 90 percent stake in the MFI to the Japanese used goods dealer, according to Nikkei Asian Review. ...
Post Staff
http://www.phnompenhpost.com/business/japan-firm-eyes-stake-local-mfi-chamroeun
Delinquent loan rate continues to rise
The rate of microfinance loans with overdue payments nearly doubled last year according to the National Bank of Cambodia (NBC), though it remained within a normal range and was coupled with a rise in deposits. ...
Hor Kimsay
http://www.phnompenhpost.com/business/delinquent-loan-rate-continues-rise
Local bank and MFI sector continue their meteoric rise
In 2017 the local financial sector continued the strong growth that has characterised the industry in recent times, with commercial banks and microfinance institutions (MFIs) seeing a robust expansion in loans and deposits throughout the year, according to the National Bank of Cambodia’s (NBC) annual ...
Sok Chan
http://www.khmertimeskh.com/50100172/local-bank-mfi-sector-continue-meteoric-rise/
NBC takes licences from 11 lenders
Cambodia’s central bank yesterday announced a decision to revoke the operating licences of 11 rural credit operators for failing the abide by regulations. ...
Hor Kimsay
http://www.phnompenhpost.com/business/nbc-takes-licences-11-lenders
Kingdom’s startups stuck in the middle with no capital
Despite Cambodia having a vibrant startup scene with entrepreneurs launching ventures on a near daily basis, businesses trying to tap into financial resources for growth have difficulty accessing capital and are stuck in the unbankable “missing middle”, according to a recent study. ...
Robin Spiess
http://www.phnompenhpost.com/business/kingdoms-startups-stuck-middle-no-capital
NBC gives banks, MFIs greenlight to issue bonds
The National Bank of Cambodia (NBC) announced on Friday that local banks and microfinance institutions (MFIs) can now issue corporate bonds or list equity securities on the nascent Cambodian stock market, a move industry insiders claim will help financial institutions raise capital and be less ...
Hor Kimsay
http://www.phnompenhpost.com/business/nbc-gives-banks-mfis-greenlight-issue-bonds
Government reduces tax load on MFIs receiving money from abroad
The Ministry of Economy and Finance (MEF) recently decided to shrink the tax burden for local microfinance institutions (MFIs) by lowering withholding tax on interest from loans acquired from abroad from 14 to 10 percent, a move that the government claims will keep the massive ...
Hor Kimsay
http://www.phnompenhpost.com/business/government-reduces-tax-load-mfis-receiving-money-abroad