Economy and commerce
Banking and financial services
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/
Japan firm eyes stake in local MFI Chamroeun
Cambodian microfinance institution (MFI) Chamroeun Microfinance Plc is negotiating with Japanese firm Renet Japan Group to sell a 90 percent stake in the MFI to the Japanese used goods dealer, according to Nikkei Asian Review. ...
Post Staff
http://www.phnompenhpost.com/business/japan-firm-eyes-stake-local-mfi-chamroeun
CBC says growth of credit charging ahead
Credit Bureau Cambodia (CBC) yesterday released its report for the fourth quarter of 2017, which showed significant growth in applications for credit, particularly in the credit card and mortgage sectors. ...
Brendan O’Byrne
http://www.phnompenhpost.com/business/cbc-says-growth-credit-charging-ahead
New warning against digital coins issued
The Securities and Exchange Commission of Cambodia (SECC) yesterday warned the public against investing in cryptocurrencies such as Bitcoin, arguing that there is no regulation in place to manage the use of digital coins. ...
May Kunmakara
http://www.khmertimeskh.com/50102471/new-warning-against-digital-coins-issued/
Delinquent loan rate continues to rise
The rate of microfinance loans with overdue payments nearly doubled last year according to the National Bank of Cambodia (NBC), though it remained within a normal range and was coupled with a rise in deposits. ...
Hor Kimsay
http://www.phnompenhpost.com/business/delinquent-loan-rate-continues-rise
Local bank and MFI sector continue their meteoric rise
In 2017 the local financial sector continued the strong growth that has characterised the industry in recent times, with commercial banks and microfinance institutions (MFIs) seeing a robust expansion in loans and deposits throughout the year, according to the National Bank of Cambodia’s (NBC) annual ...
Sok Chan
http://www.khmertimeskh.com/50100172/local-bank-mfi-sector-continue-meteoric-rise/
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
Business Insider: Boosting inclusion for online payment at Pi Pay
While Cambodia remains a largely cash-based society, the market for financial technology has begun to expand through online payment services and mobile e-wallets like Pi Pay. The Post’s Robin Spiess sat down with Pi Pay CEO Tomas Pokorny to discuss the future of economic digitisation in the Kingdom. ...
Robin Spiess
http://www.phnompenhpost.com/business/business-insider-boosting-inclusion-online-payment-pi-pay
Kingdom’s startups stuck in the middle with no capital
Despite Cambodia having a vibrant startup scene with entrepreneurs launching ventures on a near daily basis, businesses trying to tap into financial resources for growth have difficulty accessing capital and are stuck in the unbankable “missing middle”, according to a recent study. ...
Robin Spiess
http://www.phnompenhpost.com/business/kingdoms-startups-stuck-middle-no-capital
Anti-fraud software firm draws major clients
A year after a local technology company introduced new software to combat financial crime in Cambodia, four banks have started using the system to fight against money laundering and terrorism financing, the company’s executive said yesterday. ...
Hor Kimsay
http://www.phnompenhpost.com/business/anti-fraud-software-firm-draws-major-clients
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
Government reduces tax load on MFIs receiving money from abroad
The Ministry of Economy and Finance (MEF) recently decided to shrink the tax burden for local microfinance institutions (MFIs) by lowering withholding tax on interest from loans acquired from abroad from 14 to 10 percent, a move that the government claims will keep the massive ...
Hor Kimsay
http://www.phnompenhpost.com/business/government-reduces-tax-load-mfis-receiving-money-abroad
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
Millers start to make use of $50M emergency rice fund
The government has already provided $9 million from its emergency rice loan fund to the Kingdom’s rice millers since the harvest season began in September, nearly triple the amount it provided when it first launched the initiative last year when millers showed little appetite for ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/millers-start-make-use-50m-emergency-rice-fund
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
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
Kingdom’s prospects for fintech discussed
While financial technology, or fintech, has made little traction so far in Cambodia, panellists at a conference in Phnom Penh on Friday expressed confidence that the sector was poised for rapid growth. ...
Robin Spiess
http://www.phnompenhpost.com/business/kingdoms-prospects-fintech-discussed
RDB closes bidding on rice storage facilities
The state-run Rural Development Bank (RDB) received a total of 10 proposals from Cambodian agricultural firms expressing interest in developing rice storage and drying facilities across three provinces using government-backed low-interest loans, a bank official said yesterday. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/rdb-closes-bidding-rice-storage-facilities
Solar lights up Cambodia’s villages
Solar home systems are an appropriate solution to provide affordable, reliable and clean electricity in rural Cambodia, and the Green Microfinance Programme assists villagers to take out loans to purchase them. ...
Chea Vannak
http://www.khmertimeskh.com/5080936/solar-lights-cambodias-villages/
Election to have little impact on banks: MSP
Next year’s national election is unlikely to slow the rapid pace of bank lending growth but could put a temporary crimp in deposits, though the sector is expected to have sufficient liquidity to absorb the impact, according to a report released yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/election-have-little-impact-banks-msp
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
RDB unveils new identity
The state-owned Rural Development Bank on Monday announced it will rebrand as the Agriculture Development Bank within the next couple of years, offering a wider range of funds and banking services. ...
Sok Chan
http://www.khmertimeskh.com/5077255/rdb-unveils-new-identity/