Economy and commerce
Banking and financial services
MFIs respond to affected customers
Microfinance institutions (MFIs) have taken some actions to restructure their loans for affected customers because of the COVID-19 pandemic, according to the Cambodia Microfinance Association (CMA). ...
Sok Chan
https://www.khmertimeskh.com/50714667/mfis-respond-to-affected-customers/
Cambodian Public Bank offers loan repayment deals during COVID-19
Cambodian Public Bank is responding to the Coronavirus crisis by taking pro-active action to provide help to its customers in distress by restructuring and rescheduling their loans to eligible individual and business customers. ...
Khmer Times Staff
https://www.khmertimeskh.com/50710323/cambodian-public-bank-offers-loan-repayment-deals-during-covid-19/
Jica loans $50M to HKL to aid rural MSMEs
Hattha Kaksekar Limited (HKL), a subsidiary of Thai-based Bank of Ayudhya Pcl (Krungsri), received a $50 million loan from Japan International Cooperation Agency (Jica) to expand its operations and support micro-, small- and medium-sized enterprises (MSMEs) in rural areas. ...
May Kunmakara
https://www.phnompenhpost.com/business/jica-loans-50m-hkl-aid-rural-msmes
Extra $120 mln in capital for ABA Bank
National Bank of Canada has injected an additional capital investment of $120 million to support the further growth of Cambodia-based ABA Bank. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50709858/extra-120-mln-in-capital-for-aba-bank/
A serious concern: Cambodians’ $8 billion microfinance debt
Impending COVID-19 health measures and high levels of micro debt pose a serious concern for the approximately 2.4 million Cambodians with a combined outstanding debt of $8 billion, according to a World Bank report released this week. ...
Harrison White
https://www.khmertimeskh.com/50708402/a-serious-concern-cambodians-8-billion-microfinance-debt/
Cash infusion set for financial sector
The government will disburse between $500 and $600 million in low-interest loans to financial institutions to enable them to provide loans to businesses at lower interest rates. ...
May Kunmakara
https://www.phnompenhpost.com/business/cash-infusion-set-financial-sector
SME Bank operation date accelerated to counter sectors economic headwinds
The state-run Small and Medium Enterprise (SME) Bank has been confirmed to bring forward their opening date to earlier this year than previously planned, stated a senior government official yesterday at the Council of Ministers. ...
Chea Vannak
https://www.khmertimeskh.com/50698611/sme-bank-operation-date-accelerated-to-counter-sectors-economic-headwinds
Microfinance commits to fulfilling tax obligations
Cambodia Microfinance Association (CMA) yesterday said it has taken steps to fulfill its tax obligations to the government. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50696115/microfinance-commits-to-fulfilling-tax-obligations
SECC approves bond issuance
Phnom Penh Commercial Bank (PPCBank) and Prasac Microfinance Institution Ltd (Prasac) have been granted initial permission to issue bonds on the Cambodia Securities Exchange (CSX). ...
May Kunmakara
https://www.phnompenhpost.com/business/secc-approves-bond-issuance
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
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
Acleda, PPCBank granted listing eligibility
Two of Cambodia’s leading commercial banks – locally owned Acleda Bank Plc (Acleda) and South Korean-owned Phnom Penh Commercial Bank Plc (PPCBank) – have been granted listing eligibility from the Cambodia Securities Exchange (CSX). This paves the way for the banks to move forward with plans ...
May Kunmakara
https://www.phnompenhpost.com/business/acleda-ppcbank-granted-listing-eligibility
Acleda to be listed on CSX
Locally-owned Acleda Bank Plc will become the first commercial bank to be listed on the Cambodia Securities Exchange (CSX). It received an official letter to this effect from the National Bank of Cambodia (NBC) on November 26, which allows it to proceed with its plans for ...
May Kunmakara
https://www.phnompenhpost.com/business/acleda-be-listed-csx
Channy: Banking will stay strong, with or without EBA
Association of Banks in Cambodia president In Channy on Tuesday said the Kingdom’s banking sector will remain strong and not be directly affected by the potential suspension of its access to the EU’s “Everything But Arms” (EBA) trade agreement. ...
May Kunmakara
https://www.phnompenhpost.com/business/channy-banking-will-stay-strong-or-without-eba
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
Asean banking conference to shape strategy for industry
The 22nd Asean Banking Conference and the 49th Asean Banking Council Meeting kicks off on Monday in Phnom Penh, Cambodia. This is the Kingdom’s first time hosting the conference and the second time for the council meeting. The event is organised by the Association of ...
May Kunmakara
https://www.phnompenhpost.com/business/asean-banking-conference-shape-strategy-industry
MFI loans, deposits grow in first nine months of this year
Outstanding loans and deposits in Cambodia’s crowded microfinance institution (MFI) sector have seen a sharp rise in the first three quarters of this year. ...
May Kunmakara
https://www.phnompenhpost.com/business/mfi-loans-deposits-grow-first-nine-months-year
Local startup earns spot in fintech ranking
Cambodia was this month recognised for the first time in the 2019 Fintech100 – a collaborative effort between H2 Ventures and KPMG that analyses the fintech space globally. ...
Gerald Flynn
https://www.khmertimeskh.com/50661022/local-startup-earns-spot-in-fintech-ranking/
Banks to expand amid sound macroeconomy
Some of Cambodia’s largest banks and financial institutions have announced plans to expand their businesses following solid macroeconomic performance so far this year. The National Bank of Cambodia (NBC) in July projected that the Kingdom’s economy is poised to have grown 7.1 per cent this year. ...
May Kunmakara
https://www.phnompenhpost.com/business/banks-expand-amid-sound-macroeconomy
Kingdom set to host Asean banking meet
Cambodia will host the 22nd Asean Banking Conference and the 49th Asean Banking Council Meeting, Association of Banks in Cambodia (ABC) president In Channy said on Thursday. Channy told The Post that the event will be organised by the ABC and will be held from ...
Thou Vireak
https://www.phnompenhpost.com/business/kingdom-set-host-asean-banking-meet
Report: 28.1% of Cambodians take out loans for healthcare
A new report has found that 28.1 per cent of Cambodians borrow money to pay for healthcare, with microfinance insiders claiming it does not reflect the reality in the financial sector. The University of New South Wales (UNSW) surveyed 5,000 households across Cambodia and found ...
Thou Vireak
https://www.phnompenhpost.com/business/report-281-cambodians-take-out-loans-healthcare
The macro challenges in Cambodia’s microfinance sector
In August, two local Cambodian organizations, Licadho and Sahmakum Teang Tnaut (STT) published Collateral Damage: Land Loss and Abuses in Cambodia’s Microfinance Sector, a report about the dangerous growth of the country’s microfinance sector. It spotlighted an issue that researchers have been warning about for years. A report ...
David Hutt
https://thediplomat.com/2019/10/the-macro-challenges-in-cambodias-microfinance-sector/
State Bank of Vietnam strengthens relations with Cambodian partner
The State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) held a bilateral meeting in Phnom Penh, Cambodia on September 16 to exchange and share experiences on macroeconomic management, especially in finance and banking. ...
Nhan Dan Newspaper
https://en.nhandan.org.vn/business/item/7922402-state-bank-of-vietnam-strengthens-relations-with-cambodian-partner.html
NGOs slammed over retraction refusal
The government yesterday slammed rights group Licadho and Sahmakum Teang Tnaut for refusing to attend a scheduled meeting and make a public statement retracting a critical report on the negative impacts of microloans. Last week, the two NGOs defended their research during a meeting with the ...
Ben Sokhean
https://www.khmertimeskh.com/50642142/ngos-slammed-over-retraction-refusal/