Ministries and other national bodies

National Bank of Cambodia

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

New Lango committee formed

The government has created a new interministerial committee to manage the activities of international NGOs, with an Interior Ministry official yesterday saying the body was intended to monitor organisations’ compliance with the controversial NGO Law. ...

Mech Dara
http://www.phnompenhpost.com/national/new-lango-committee-formed

Economy to grow at 6.9 percent in 2018, NBC

The economy will grow by 6.9 percent this year, according to projections from the National Bank of Cambodia (NBC), spurred by the robust performance of the tourism, construction and garment sectors. ...

May Kunmakara
http://www.khmertimeskh.com/50101290/economy-grow-6-9-percent-2018-nbc/

Inflation in 2017 low and ‘manageable’

Inflation in Cambodia last year reached 2.9 percent due to a moderate increase in the price of key commodities, particularly petroleum and agricultural goods, with the National Bank of Cambodia (NBC) saying the low inflation rate was a product of sound macroeconomic management. ...

May Kunmakara
http://www.khmertimeskh.com/50100904/inflation-2017-low-manageable/

NBC sees increased confidence in riel after dollar buys in 2017

The central bank injected $915 million worth of riel into the economy last year by buying up US dollars with the local currency, stabilising the exchange rate amid higher demand for riel, according to the bank’s latest report. ...

Hor Kimsay
http://www.phnompenhpost.com/business/nbc-sees-increased-confidence-riel-after-dollar-buys-2017

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

Hun Sen vows to launch new bank for SMEs

Prime Minister Hun Sen yesterday pledged to start a new bank with an initial capital of $100 million to provide financing for small and medium enterprises (SMEs), with industry players saying its success hinged on whether concessional or low interest rates could be provided to ...

Hor Kimsay
http://www.phnompenhpost.com/business/hun-sen-vows-launch-new-bank-smes

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

NBC’s currency museum to launch in January

The National Bank of Cambodia (NBC) will open a museum on finance and monetary matters in January 2018, a representative of the central bank has announced. ...

Sok Chan
http://www.khmertimeskh.com/5089178/nbcs-currency-museum-launch-january/

Yuan use gains traction as trade link with China grows

With trade and investment between Cambodia and China steadily increasing, Chinese currency-backed settlements for cross-border commerce have sharply taken off as the Kingdom continues to deepen its economic dependency on the northern giant, a central bank official said yesterday. ...

Hor Kimsay
http://www.phnompenhpost.com/business/yuan-use-gains-traction-trade-link-china-grows

NBC tests mechanism to link Kingdom’s major banks

The central bank officially held a soft launch last Friday for its central shared switch mechanism, which connects account records of three of the Kingdom’s leading financial institutions, allowing them to operate ATM and point-of-sale (POS) terminals in tandem. ...

Hor Kimsay
http://www.phnompenhpost.com/business/nbc-tests-mechanism-link-kingdoms-major-banks

Central bank marks 38 years since rising from rubble

Cambodia’s banking sector has grown enormously on solid foundations since being rebuilt from scratch in 1979, central bank Governor Chea Chanto said yesterday during an event marking the 38-year anniversary of the re-establishment of the National Bank of Cambodia (NBC) after the fall of the ...

Hor Kimsay
http://www.phnompenhpost.com/business/central-bank-marks-38-years-rising-rubble

Lenders foresee challenges in raising the local currency ratio

Commercial lenders have said the central bank’s requirement that banks and microfinance institutions (MFIs) increase the share of local currency in their loan portfolio to at least 10 percent by the end of 2019 could prove challenging to implement as their biggest clients exhibit a ...

Hor Kimsay
http://www.phnompenhpost.com/business/lenders-foresee-challenges-raising-local-currency-ratio

Schools to teach financial literacy

Financial literacy as a school subject to increase students’ knowledge about money will be introduced nationwide through the first phase of the Cambodian School Curriculum Project, with the Ministry of Education collaborating with the National Bank of Cambodia, Asian Development Bank, Good Return and the ...

Sok Chan
http://www.khmertimeskh.com/5083840/schools-teach-financial-literacy/

Official exchange rate launched for yuan, riel

The National Bank of Cambodia (NBC) and the People’s Bank of China in the autonomous Guangxi region of southern China have launched an official yuan-riel exchange rate that allows businesses and individuals to conduct trade settlement activities without using the US dollar as an intermediary ...

Hor Kimsay
http://www.phnompenhpost.com/business/official-exchange-rate-launched-yuan-riel

Finance curriculum to be in schools by 2019

The central bank announced yesterday that it was close to finalising a new academic curriculum to promote financial literacy with the aim of incorporating it into schools nationwide by the start of the 2019 academic year. ...

Hor Kimsay
http://www.phnompenhpost.com/business/finance-curriculum-be-schools-2019

Central bank fines MFI for shady lending

The central bank announced on Friday that it has fined an unnamed microfinance institution (MFI) $100,000 for engaging in non-transparent lending practices. ...

Hor Kimsay
http://www.phnompenhpost.com/business/central-bank-fines-mfi-shady-lending

NBC unveils online trading platform

In order to promote interbank transactions and lending, the National Bank of Cambodia (NBC) has officially launched a new online platform which allows financial operators to apply for and trade the central bank’s financial instruments like negotiable certificates of deposits (NCDs), liquidity-providing collateralised operations (LPCOs) ...

Hor Kimsay
http://www.phnompenhpost.com/business/nbc-unveils-online-trading-platform

Banking sector firms up its foundations

Cambodia’s banking sector enjoyed another strong performance last year as the Kingdom’s economy continued to expand, with banking credit moderating, deposits increasing and financial institutions remaining healthy as they further integrate into the global economy, the central bank said in its annual report yesterday. ...

Kali Kotoski
http://www.phnompenhpost.com/business/banking-sector-firms-its-foundations

Banking sector FDI spikes on new banks and higher caps

Inflows of foreign capital into the Kingdom’s banking sector nearly doubled during the first half of the year as two heavyweight players entered the local market and lending institutions responded to revised minimum capital requirements, a central bank official said yesterday. ...

Hor Kimsay
http://www.phnompenhpost.com/business/banking-sector-fdi-spikes-new-banks-and-higher-caps

US dollar used to curb inflation

Cambodia’s central bank purchased a total of $479.4 million worth of cash during the first half of this year to convert to riel, utilising one of the few tools the National Bank of Cambodia (NBC) has to stabilise the value of the local currency and ...

Hor Kimsay
http://www.phnompenhpost.com/business/us-dollar-used-curb-inflation

Garment sector’s lackluster results

Cambodia’s garment exports grew slower than expected by about 4 percent in the first half of the year compared with 9 percent in the same period last year while foreign investment in the sector fell by 30 percent, according to a report released by the ...

Sok Chan and Sum Manet
http://www.khmertimeskh.com/5074380/garment-sectors-lackluster-results/

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