Ministries and other national bodies

National Bank of Cambodia

NBC’s digital payments to go live in next few months

The National Bank of Cambodia (NBC) will launch a Blockchain-based, peer-to-peer payment and money transfer platform in the next few months, its director-general Chea Serey told The Post on Monday. Dubbed ‘Project Bakong’, the scheme already has the support of 11 banks, with many more ...

May Kunmakara
https://www.phnompenhpost.com/business/nbcs-digital-payments-go-live-next-few-months

Circulation of riel rises 33%

The share of riel in circulation in the Kingdom grew by about 33 per cent year-on-year by last year’s end as deposits in riel increased by 37 per cent, said the National Bank of Cambodia (NBC) 2019 Review and 2020 Outlook report. The report noted ...

Hin Pisei
https://www.phnompenhpost.com/business/circulation-riel-rises-33

FDI to Cambodia rockets 12% to $3.5 billion in 2019

Cambodia attracted more than $3.5 billion in foreign direct investment (FDI) last year, an increase of nearly 12 per cent over 2018, thanks in part to Chinese investors who accounted for half of the investments, a National Bank of Cambodia (NBC) report released last week ...

Hin Pisei
https://www.phnompenhpost.com/business/fdi-cambodia-rockets-12-35-billion-2019

Report: Banking system healthy

Political stability, growth in all economic sectors and a strong banking system were major drivers that reinforced public confidence in the Kingdom’s banking system last year, said the National Bank of Cambodia (NBC). According to its “Macroeconomic and Banking Progress 2019 Report and 2020 Outlook”, ...

May Kunmakara
https://www.phnompenhpost.com/business/report-banking-system-healthy

Hun Sen: Kingdom’s economy to grow 7.1%

Cambodia’s economic growth is projected at 7.1 per cent this year or about $24 billion thanks to the good performance of the industrial sector that is creating strong domestic revenue. Speaking at the graduation ceremony of Cambodia University of Specialties on Wednesday, Prime Minister Hun ...

Thou Vireak
https://www.phnompenhpost.com/business/hun-sen-kingdoms-economy-grow-71

Strong growth projected for Cambodia’s banking sector

National Bank of Cambodia (NBC) governor Chea Chanto said on Monday that the Kingdom’s economy has maintained robust growth with low and manageable inflation which paves a favourable path for the banking sector’s continuous development. Meanwhile, fintech is playing an important role in the financial ...

May Kunmakara
https://www.phnompenhpost.com/business/strong-growth-projected-cambodias-banking-sector

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

NBC set to hold annual meet highliting agricultural issues

The National Bank of Cambodia (NBC) is set to hold the 6th Annual Macroeconomic Conference at the end of this year, which will focus on the Kingdom’s agriculture sector challenges. The conference on Agriculture Sector in a Rapid Structural Transformation and Uncertain Global Trade Environment ...

Sorn Sarath
https://www.phnompenhpost.com/business/nbc-set-hold-annual-meet-highliting-agricultural-issues

NBC releases Financial Stability Review to the public for the first time

The National Bank of Cambodia (NBC) released its Financial Stability Review for the first time on Wednesday, outlining the work needed to monitor economic security and develop macro-prudential measures to cope with systemic risks. The Financial Stability Review has been produced by NBC since 2001 ...

Hor Kimsay
https://www.phnompenhpost.com/business/nbc-releases-financial-stability-review-public-first-time

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

Kingdom’s development discussed

The National Bank of Cambodia (NBC) and the International Monetary Fund on Thursday held a conference to discuss the next steps in Cambodia’s economic development. ...

Hor Kimsay
https://www.phnompenhpost.com/business/kingdoms-development-discussed

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/

Inflow of FDI up in first half

The inflow of foreign direct investment (FDI) into Cambodia witnessed solid growth in the first half of this year due to strong funds flowing into the financial and real estate sectors, said a central bank report. It said this was despite the agriculture and garment ...

Hor Kimsay
https://www.phnompenhpost.com/business/inflow-fdi-first-half

NBC projects real economic growth at 7 pct this year

The National Bank of Cambodia (NBC) said in its mid-year report the country’s real economic growth will average seven percent this year, with strong contribution from the agricultural, industrial and services sectors. ...

Sok Chan
https://www.khmertimeskh.com/50511987/nbc-projects-real-economic-growth-at-7-pct-this-year/

National Bank of Cambodia warns of dodgy lenders

The National Bank of Cambodia (NBC) announced on Friday that it is seeking to cooperate with relevant stakeholders to crack down on illegal lenders. It also alerted the public about the dangers of taking cash loans from unfamiliar sources. ...

Hor Kimsay
https://www.phnompenhpost.com/business/national-bank-cambodia-warns-dodgy-lenders

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 promotes riel liquidity

Commercial banks and microfinance institutions have acquired more than 209 billion riel in riel liquidity, worth $52.4 million, from the National Bank of Cambodia (NBC) since the central bank began its liquidity-providing collateralised operation (LPCO) in October 2016. ...

Sok Chan
http://www.khmertimeskh.com/50116187/nbc-promotes-riel-liquidity/

NBC officials optimistic about growing riel usage

The Cambodian riel accounted for about 17 percent of total currency circulation last year, a number similar to previous years, but central bank officials said they remained optimistic that use of the local currency will grow in the future. ...

Hor Kimsay
http://www.phnompenhpost.com/business/nbc-officials-optimistic-about-growing-riel-usage

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