Ministries and other national bodies

National Bank of Cambodia

CBC develops wide-ranging financial app

The Credit Bureau of Cambodia (CBC) has made available a new digital application that for the first time allows Cambodian citizens to check their credit score, view credit reports and receive credit monitoring alerts. ...

Harrison White
https://www.khmertimeskh.com/50787813/cbc-develops-wide-ranging-financial-app/

Banks and FI loan restructuring extended until mid-2021

The National Bank of Cambodia (NBC) will allow banks and financial institutions to continue loan restructuring until mid-2021, according to a letter sent to the Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) last week. ...

Sok Chan
https://www.khmertimeskh.com/50785076/banks-and-fi-loan-restructuring-extended-until-mid-2021/

Blockchain cited as boost to public trust in financial institutions

At this week’s 2020 Global Blockchain Policy Forum,  Assistant Governor and Director-General of Central Banking, National Bank of Cambodia (NBC) Chea Serey stressed the need for building public trust in financial institutions and how the new Bakong payment system and infrastructure, built on blockchain technology, ...

Jason Boken
https://www.khmertimeskh.com/783940/blockchain-cited-as-boost-to-public-trust-in-financial-institutions/

MFI credit risk relatively low, NBC’s Serey says

On the basis that non-performing loans stood around 2.3 percent as of August 31, 2020, credit risk in the microfinance sector remains relatively low, said National Bank of Cambodia assistant governor and director-general Chea Serey. ...

Sangeetha Amarthalingam
https://www.phnompenhpost.com/business/mfi-credit-risk-relatively-low-nbcs-serey-says

NBC auctions $50 million

The National Bank of Cambodia (NBC) has announced a $50 million auction this week to stabilise the local currency exchange rate in the market. The NBC has informed banks, microfinance institutions (MFIs) and licensed money exchangers that the minimum rate for auction will be announced ...

Sorn Sarath
https://www.khmertimeskh.com/50775257/nbc-auctions-50-million/

NBC: Informal lenders shouldn’t tarnish all industry

The National Bank of Cambodia (NBC) has made it clear that the whole microfinance industry should not be held accountable for some of the unregulated microloans that are pushing people deeper into debt. ...

Jason Boken
https://www.khmertimeskh.com/50771437/nbc-informal-lenders-shouldnt-tarnish-all-industry/

NBC yet to issue ‘small banknote fee’

The National Bank of Cambodia (NBC) is continuing to accept small denomination US banknotes ($1, $2 and $5) “free of charge” from financial institutions, despite the August 31 deadline it had set out in May. ...

Harrison White and Sok Chan
https://www.khmertimeskh.com/50770277/nbc-yet-to-issue-small-banknote-fee/

NBC makes argument for more use of riels

National Bank of Cambodia Governor Chea Chanto said Cambodia needs a strong national currency to strengthen its economic and financial resilience to underlying crises, as well as to support sustainable and inclusive socio-economic growth and development. ...

Sok Chan
https://www.khmertimeskh.com/50767469/nbc-makes-argument-for-more-use-of-riels/

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/

Public ‘OK’ with removal of small-dollar banknotes

As the deadline draws close for commercial banks and microfinance institutions to send back smaller dollar banknotes to the National Bank of Cambodia without a service charge, businesses are seeing an increase in the use of the riel transactions with no real complaints from shoppers. ...

Jason Boken
https://www.khmertimeskh.com/50757036/public-ok-with-removal-of-small-dollar-banknotes/

Small banks ‘underperform’ in thriving sector

As the Kingdom’s energetic banking sector rockets at an average annual rate of 28 per cent and teems with an ever-increasing number of new players vying for a slice of the market, smaller banks have been left in the dust.​ ...

May Kunmakara
https://www.phnompenhpost.com/business/small-banks-underperform-thriving-sector

NBC head underscores value of women’s access to finance

Unlocking greater access to formal finance for Cambodian women will play a strategic role in the process of the Kingdom’s economic development, National Bank of Cambodia (NBC) director-general Chea Serey said on Monday. She said this at the Training on the Trainers (ToT) Programme on Financial ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-head-underscores-value-womens-access-finance

Cambodia’s economy stagnant in first half

The National Bank of Cambodia (NBC) said the Kingdom’s economic growth stagnated in the first half of the year due to the impact of the COVID-19 pandemic and forecast that the country’s GDP would contract 1.9 percent this year. ...

Khmer Times Staff
https://www.khmertimeskh.com/50744787/cambodias-economy-stagnant-in-first-half/

Finance sector in good shape: NBC

The National Bank of Cambodia (NBC) says the banking sector will continue to grow confidently and actively contribute to economic activity. At the same time, the banking and finance sector continues to promote financial inclusion with the number of deposit clients reaching 8.2 million accounts ...

Sok Chan
https://www.khmertimeskh.com/50742892/finance-sector-in-good-shape-nbc/

Kingdom’s financial sector healthy

Cambodia’s financial sector remains on a sustainable growth path despite the Covid-19 pandemic squeezing crucial industries, National Bank of Cambodia (NBC) governor Chea Chanto said. ...

May Kunmakara
https://www.phnompenhpost.com/business/kingdoms-financial-sector-healthy

E-payments, key to promoting financial inclusion

Cambodia has seen recent and rapid growth in digital and electronic payment services, where the platform is regarded as a key to promote the Kingdom’s financial inclusion. ...

Sorn Sarath
https://www.khmertimeskh.com/50736465/e-payments-key-to-promoting-financial-inclusion/

NBC meet set to shape post-Covid economy

The National Bank of Cambodia (NBC) will host its seventh Annual Macroeconomic Conference under the theme “Discussion of Cambodia’s Economic Development Models” to gather input from academics, researchers, industry insiders and economists about how to structure the economy in a post-Covid-19 world. ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-meet-set-shape-post-covid-economy

Local vendors shun small US currency

Reports of local vendors refusing to accept small US currency banknotes has continued over the weekend, despite repeated calls from both the Kingdom’s central bank and Prime Minister Hun Sen that all US currency banknotes will still be considered “legal tender”. ...

Harrison White
https://www.khmertimeskh.com/50728832/local-vendors-shun-small-us-currency/

Blockchain system will reduce dependence on the ‘greenback’

Cambodian’s will soon be able to make near-instant payments via a new blockchain payment platform being launched under a system called Distributed Ledger Technology (DLT) that will “ultimately undermine the popularity of the US dollar”, according to the Kingdom’s central bank director. ...

Harrison White
https://www.khmertimeskh.com/50723403/blockchain-system-will-reduce-dependence-on-the-greenback/

Leasing Industry registers 63 percent surge in 2019

The Central Bank has reported that the total value in the leasing industry was recorded at  1,169 billion KHR ($287million), an increase of about  63 percent in 2019 compared with the year before. ...

Sok Chan
https://www.khmertimeskh.com/50718028/leasing-industry-registers-63-percent-surge-in-2019/

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