Economy and commerce

Banking and financial services

Cambodia vulnerable to money laundering

Cambodia is the third most at-risk country to money laundering and terrorist financing in the world, according to a global index released last month, trailing only Iran and Afghanistan. The Anti-Money Laundering Index, first published by the Swiss-based Basel Institute on Governance in 2012, assigns the ...

Zsombor Peter
http://www.cambodiadaily.com/news/cambodia-vulnerable-to-money-laundering-67363/

Cambodia launches first large-scale paddy rice bank

Cambodia has launched its first large-scale paddy rice bank to ensure uninterrupted supplies to millers and exporters, according to local sources. Thaneakea Srov (Kampuchea) Plc is the rice bank that aims at supporting the local rice industry by way of purchasing, storing and drying rice, as well as ...

Oryza News Staff
http://www.oryza.com/news/rice-news/cambodia-launches-first-large-scale-paddy-rice-bank

Singapore's Phillip Capital acquires Malaysian-owned Cambodian bank

The Singapore-based Phillip Capital Group has purchased a Malaysian-owned Hwang-DBS Commercial Bank in Cambodia for 40 million U.S. dollars and rebranded it as Phillip Bank on Thursday, a bank’s chief said. Phillip Bank’s chairman Lim Hua Min said the Phillip Capital Group, which is an Asian ...

Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=237941

ANZ says no to evicted Cambodian farmers

ANZ has ruled out helping hundreds of poor Cambodian families forcibly evicted from their land to make way for sugar-cane plantations that involved child labour and led to food shortages. Fairfax Media this year revealed confidential audits that disclosed that ANZ’s Cambodian subsidiary, ANZ Royal Bank, ...

Richard Baker and Nick McKenzie
http://www.brisbanetimes.com.au/national/anz-says-no-to-evicted-cambodian-farmers-20140819-105sib.html

IFC sells stake in Cambodia's commercial bank to Japanese bank

The International Finance Corporation (IFC), a member of the World Bank Group, has sold its 12.25 percent stake in Acleda bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) in an undisclosed amount after having supported Acleda for over 15 years, said an IFC news statement ...

Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=235929

ANZ refuses to help evictees of senator’s sugarcane farm

About 100 villagers who lost land to a sugarcane plantation, which was until recently financed by ANZ Royal Bank, traveled to Phnom Penh to protest in front of the bank’s headquarters Thursday, but failed to convince the bank to help them. Several hundred families in Kompong ...

Aun Pheap and Zsombor Peter
http://www.cambodiadaily.com/news/anz-refuses-to-help-evictees-of-senators-sugarcane-farm-66579/

Amid credit expansion, Riel loans minimal

Cambodia’s credit sector is expanding rapidly with the central bank saying now is the time to start infusing the market with riel and begin a process of de-dollarization in the country’s economy. But as the growth of dollarized loans outstrips those in riel, disbursing credit ...

George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/amid-credit-expansion-riel-loans-minimal-66610/

ANZ hit by controversy in Cambodia

ANZ is facing calls for compensation over its funding of a Cambodian sugar mill linked to child labour, forced evictions and land grabs. Media reports on Monday said hundreds of Cambodian farmers had called on the bank to provide compensation for the land they lost due ...

Georgia Wilkins
http://www.stuff.co.nz/business/world/10358069/ANZ-hit-by-controversy-in-Cambodia

PM says BRICS bank to ease dependency

Prime Minister Hun Sen yesterday applauded the recent creation of the BRICS New Development Bank (NDB), saying it could ease Cambodia’s dependence on institutions such as the World Bank and the International Monetary Fund (IMF). BRICS member nations Brazil, Russia, India, China and South Africa announced ...

May Kunmakara
http://www.phnompenhpost.com/business/pm-says-brics-bank-ease-dependency

Cambodian banks see 9.3 pct lending growth in 1st half of 2014: central bank

Cambodia’s banking sector has reported a 9.3-percent increase in lending in the first six months of the year, according to the figures from the National Bank of Cambodia (NBC) on Sunday. The figures showed that the kingdom’s 35 commercial banks had lent a total of 8.09 ...

Global Post News Staff
http://www.globalpost.com/dispatch/news/xinhua-news-agency/140803/cambodian-banks-see-93-pct-lending-growth-1st-half-2014-cent

Big strides for savings in MFIs

Microfinance deposits are on the rise, a positive trend that the industry says is moving the country towards a reduced dependency on foreign funding and that will eventually lead to greater control over interest rates. The seven microfinance institutions licensed to take deposits collected $209 million ...

Hor Kimsay
http://www.phnompenhpost.com/business/big-strides-savings-mfis

As Cambodia’s financial sector grows, so do its challenges

The National Bank of Cambodia on Wednesday hosted its first annual macroeconomic conference, outlining the need to ensure Cambodia’s rapidly growing financial sector supports sustainable and inclusive economic growth while managing greater risks. Cambodia’s banking and microfinance sectors have seen enormous growth in recent years with ...

Kang Sothear and George Styllis
http://www.cambodiadaily.com/business/as-cambodias-financial-sector-grows-so-do-its-challenges-65414/

Cambodia Business Conference opens registration

Cambodia’s business community is anticipating keen interest from overseas investors as registration for the country’s international investment conference opens this week. The International Business Chamber (IBC) of Cambodia investment conference will take place on October 6th and 7th at the Intercontinental Hotel in Phnom Penh. The ...

The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=ZjIyZDgyN2M0ZDQ

Interested, but not yet committed

From the finance to the education sector, the interest from companies looking to list on Cambodia’s nascent stock exchange is on the rise, a CSX official said yesterday, after a meeting with some of the Kingdom’s largest firms. Some 30 companies, the CSX say, are eyeing ...

Daniel de Carteret and May Kunmakara
http://www.phnompenhpost.com/business/interested-not-yet-committed

Remittances dip on exodus

Two of Cambodia’s largest financial service providers have reported declines in transactions stemming from key Thai border provinces as thousands of undocumented migrant workers continue to exit the neighbouring country. Third-party payments and remittance service Wing has seen a 3 per cent decline in the amount ...

Eddie Morton
http://www.phnompenhpost.com/business/remittances-dip-exodus

Maybank Cambodia opens 17th branch

Maybank Cambodia Plc has launched its 17th branch at Ta Khmao, Kandal Province to expand its footprint across the nation and to provide the community with convenient access of banking services. ...

The Star Online News Staff
http://www.thestar.com.my/Business/Business-News/2014/07/09/MAYBANK-CAMBODIA-OPENS-17TH-BRANCH-IN-CAMBODIA/

ACLEDA Bank launches ACLEDA Internet Bank

ACLEDA Bank PLC, the Cambodia’s leading commercial bank, has launched a new service called “ACLEDA Internet Bank”, according to a statement on its website. The statement said the new service would offer additional alternative for its value customers in doing financial transactions via the internet at ...

The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=NTg0YTVkMDcwMjg

Electricity provider to offer Wing payments

Electricite du Cambodge (EdC) on Monday announced it will offer customers in Sihanoukville, Battambang and Siem Reap the option to pay their bills via mobile payment provider Wing. EdC and Wing officials signed an agreement on July 1 at the Cambodiana Hotel in Phnom Penh authorising ...

Hor Kimsay
http://www.phnompenhpost.com/business/electricity-provider-offer-wing-payments

Japanese firm signs agreement with bank

Publicly listed Japanese conglomerate Resona Holdings signed an agreement yesterday with Cambodia Public Bank (Campu) aimed at increasing its customer base in the Kingdom’s banking sector. Resona Holdings subsidiary firms Resona Bank, Saitama Bank and Kinki Osaka Bank are all part of the agreement, which allows ...

Hor Kimsay
http://www.phnompenhpost.com/business/japanese-firm-signs-agreement-bank

South Korean bank buys local MFI

South Korea-based Woori Bank has purchased Cambodian microfinance institution Malis Finance for $4.9 million. Hun Soopheak, general manager of Malis Finance, said the deal was finalised two weeks ago; however, the firm is still awaiting approval from Cambodian regulators. ...

Chan Muyhong
http://www.phnompenhpost.com/business/south-korean-bank-buys-local-mfi

Woori to buy Cambodian microfinance institution

Woori Bank has decided to acquire Cambodia’s microfinance institution Malis Finance for 5 billion won ($4.9 million) to accelerate its global expansion. The Financial Services Commission approved Woori Bank’s acquisition of Malis on Wednesday, according to bank officials. ...

Suk Gee-hyun
http://www.koreaherald.com/view.php?ud=20140619000883

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