Banking and financial services

The central bank’s recent revocation of the operating licences of 104 rural credit institutions (RCI) – nearly half – should not have significant ramifications on the Kingdom’s wider financial system, industry insiders and observers have assured. ...

A “Standard of Loan Agreement” for the financial sector is under preparation, and institutions are expected to begin adopting its principles by June. But insiders and observers have expressed differing views on the precise provisions of the instrument, its potential effects on market competition, and ...

Low-income countries and emerging economies – including Cambodia – are facing heightened sovereign debt distress amid a rise in interest rates in advanced economies, according to International Monetary Fund (IMF) economic counsellor and director of research Pierre-Olivier Gourinchas. ...

The microfinance sector in Cambodia has been playing an important role in contributing to economic and social development, especially the reduction of poverty in rural areas, said a senior official at the National Bank of Cambodia. ...

As much as 42 percent of the loans disbursed by banks and commercial banks in Cambodia has been taken by residents living in its capital Phnom Penh while women borrowers outnumber men in most of the provinces. ...

Prime Minister Hun Sen has once again called on the people not to panic over the recent warning of the International Monetary Fund (IMF) and the World Bank over the risks of a global recession. ...

The banking system has played a crucial role in supporting Cambodia’s recovery from the economic downturn in the wake of Covid-19 with National Bank of Cambodia (NBC) pursuing an accommodative and prudent monetary policy to meet the needs of the economy. ...

National Bank of Cambodia (NBC) deputy governor Chea Serey on March 20 made a general call to keep using the local currency in day-to-day transactions, as part of de-dollarisation and other monetary policy initiatives, as a means to promote economic development. ...

The Kingdom’s central bank and the Cambodia Microfinance Association (CMA) have jointly launched a project aimed at promoting financial literacy, consumer empowerment and consumer protections at the community level. ...

The National Bank of Cambodia (NBC) and Cambodia Microfinance Association (CMA) have rolled out a pilot campaign to promote financial literature, consumer empowerment and protection in Cambodian communities. ...

A project to strengthen financial literacy at the local level has been launched to promote knowledge related to finance, rights, and client protection as well as to increase clients’ access to formal financial services within communities. ...

National Bank of Cambodia (NBC) on Thursday created a new milestone for the country by inking deals with the central banks of the Republic of Fiji and the Solomon Islands to exchange knowledge and experience on financial innovation and inclusion as well as to share ...

The National Bank of Cambodia (NBC) and the Cambodia Microfinance Association (CMA) have jointly launched the “Safe Finance in Community” project to promote financial literacy, rights and consumer protection in communities, a press statement said on Monday. ...

A partnership between Cambodia Microfinance Association (CMA) and Water.org aims to increase access to safe water and sanitation nationwide by offering incentives to finance the sector. ...

Cambodia has signed Memorandums of Understanding (MoUs) with the Solomon Islands and Fiji to extend the collaboration in the areas of financial innovation and payment system, said a joint statement on Friday. ...

National Bank of Cambodia (NBC) and Bank of China on Wednesday discussed means to expand the cross-border payment between the two countries as well as develop transactions in other member states of the Association of Southeast Asian Nations (ASEAN), said a release. ...

The National Bank of Cambodia (NBC) is looking into joining the RMB Cross-border Interbank Payment System (CIPS) to provide additional international payment options; facilitate and boost trade, investment, tourism between the two countries through yuan-denominated transactions; and to make management of the Chinese currency in ...

Cambodia Post Bank Plc (CPBank) has partnered with the Asian Development Bank (ADB) on a $10 million loan initiative to provide to the Kingdom’s micro-, small- and medium-sized enterprises (MSME) to support their recovery after years of Covid-related disruptions, according to ADB. ...

The Asian Development Bank (ADB) and Cambodia Post Bank (CP Bank) have signed a loan of up to $10 million to spur post-pandemic recovery for the nation’s micro-, small- and medium-sized enterprises (MSMEs) by increasing access to finance, with at least half earmarked for women. ...

The total number of loan accounts reached 1.54 million nationwide in December, rising by 3.45 per cent “from the previous quarter”, according to the latest report from Credit Bureau (Cambodia) Co Ltd (CBC). ...

The Securities and Exchange Regulator of Cambodia (SERC) is set to authorise the establishment of joint venture funds in the first quarter of this year ending March 31, as the underlying regulatory framework nears completion, paving the way for licensed companies to raise money for ...

The National Bank of Cambodia (NBC) and National Police on February 2 issued a joint statement warning of the risks associated with informal financial services, which it said could put borrowers in excessive debt or otherwise upend their lives. ...

The Economic Intelligence Centre of the Siam Commercial Bank forecasts the CLMV countries, namely Cambodia, Laos, Myanmar and Vietnam, will gain a stronger growth momentum in 2023, but remain below its growth potential prior to the COVID-19 outbreaks. ...

Cambodian taxes can currently be paid at 10 commercial banks, thanks to memorandums of understanding (MoU) signed by the Ministry of Economy and Finance in a bid to improve tax administration efficiency and make life easier for taxpayers, according to a General Department of Taxation ...