Economy and commerce
Banking and financial services
FinTech workshop responds to growth in digital economy
As more Cambodians tap into the benefits of mobile banking, the Ministry of Economy and Finance is preparing to host a workshop to address the role of the banking sector and FinTech in Cambodia’s digital economy. ...
Mao Sreypich
https://kiripost.com/stories/fintech-workshop-responds-to-growth-in-digital-economy
Microfinance association claims NGO statement “biased”
The Cambodia Microfinance Association (CMA) regarded the commentary by NGOs and civil society organizations on the industry as “biased, incomplete, and cherry-picked”, taking just the negative parts of a report produced by Germany’s Federal Ministry of Economic Cooperation and Development (BMZ) into account while ignoring ...
Samban Chandara
https://www.phnompenhpost.com/business/microfinance-association-claims-ngo-statement-biased
RPR to slap fine on 38 non-bank financial firms
The Real Estate Business and Pawnshop Regulator (RPR) under the Non-Bank Financial Service Authority (FSA) of the Ministry of Economy and Finance (MEF) has prepared notifications to fine 38 businesses that provide non-bank financial services and products to customers, according to a report released by ...
Kang Sothear
https://www.khmertimeskh.com/501146880/rpr-to-slap-fine-on-38-non-bank-financial-firms/
NBC to take legal action against illegal lenders
The National Bank of Cambodia (NBC) along with other competent authorities are considering taking legal action against firms or individuals operating businesses that go against the banking laws and financial institutions of the Kingdom, NBC announced yesterday. ...
Kang Sothear
https://www.khmertimeskh.com/501140412/nbc-to-take-legal-action-against-illegal-lenders/
Cambodia’s agricultural sector immune to impacts of Covid
Cambodia’s agriculture sector has been immune from Covid-inflicted impact and enjoyed strong growth during the pandemic as financing for the sector has increased, a leading banker said on Friday. ...
Thai Sothea
https://kiripost.com/stories/cambodias-agricultural-sector-immune-to-impacts-of-covid
Clampdown on illegal online lending
The National Bank of Cambodia (NBC) said on Thursday they have joined forces with police to take legal action against those involved in fraudulent online lending saying it is a crime, and urged the public to contact official financial institutions when borrowing money. ...
Seng Mengheng
https://kiripost.com/stories/clampdown-on-illegal-online-lending
Banks, MFIs raise interest rates following Fed move
Many banks and microfinance institutions (MFIs) in Cambodia have increased interest rates for deposits in dollar and riel currency by approximately 0.5 percent and 1 percent per annum respectively but not decreased rates for loans in the last three months, according to senior officials in ...
Kang Sothear
https://www.khmertimeskh.com/501128445/banks-mfis-raise-interest-rates-following-fed-move/
MB to set up commercial bank in Cambodia
The State Bank of Vietnam (SBV) has issued a written document allowing the Military Commercial Joint Stock Bank (MB) to establish a 100 percent-owned bank in Cambodia on the ground of its branch in Phnom Penh. ...
Khmer Times Staff
https://www.khmertimeskh.com/501116192/mb-to-set-up-commercial-bank-in-cambodia/
ACLEDA reports 20% less net profit in Q1
Mainboard-listed commercial bank ACLEDA Bank Plc’s net profit for the first quarter ended March 31 fell 20 per cent to $35.36 million from $44.10 million last year as a result of widening net impairment loss, interest expense, and general and administrative expenses. ...
May Kunmakara
https://www.phnompenhpost.com/business/acleda-reports-20-less-net-profit-q1
IELTS available at ACLEDA’s business school
The ACLEDA Institute of Business (AIB) has teamed up with the IELTS Cambodia Official Test Centre at IDP Education to administer the English proficiency exam at the institute, as part of its ambition to gain widespread international recognition. ...
Hom Phanet
https://www.phnompenhpost.com/business/ielts-available-acledas-business-school
Realty firm inks micro-lending deal
Chief (Cambodia) Commercial Bank Plc (Chief Bank) has teamed up with local real estate company Zillennium Co Ltd as part of the bank’s plans to expand the user base of its ‘Chief Easy’ micro-lending app. ...
Hin Pisei
https://www.phnompenhpost.com/business/realty-firm-inks-micro-lending-deal
Three finance sector bodies roll out new conduct code
Three finance industry associations have jointly developed a new code of conduct aimed at ensuring transparency, building trust and strengthening customer protection in the Kingdom’s banking and finance sector. ...
May Kunmakara
https://www.phnompenhpost.com/business/three-finance-sector-bodies-roll-out-new-conduct-code
Cambodia-based Oriental Bank, BPC partner for digital banking
Oriental Bank, a new bank in Cambodia with a digital-first strategy, has announced that it has chosen global payment provider BPC to power its digital banking experiences. ...
Khmer Times Staff
https://www.khmertimeskh.com/501033250/cambodia-based-oriental-bank-bpc-partner-for-digital-banking/
NBC heralds eco-friendly investment fund
The National Bank of Cambodia (NBC), the central bank, welcomed the Bank for International Settlements’ (BIS) February 25 launch of the Asian Green Bond Fund, an open-ended fund for central bank investments in high-quality bonds issued by sovereign states, international financial institutions and corporations. ...
https://www.phnompenhpost.com/business/nbc-heralds-eco-friendly-investment-fund
Ministry of Economy announces $100 million funding increase for SME Bank and Rural Development Bank for Agriculture
The Ministry of Economy and Finance will announce the announcement of additional funding of $100 million for the Cambodian Small and Medium Enterprise Bank and the Agricultural Rural Development Bank to provide additional support to SMEs, agriculture and agriculture. Industry according to the press release ...
Khmer Times Staff
https://www.khmertimeskh.com/501023375/ministry-of-economy-announces-100-million-funding-increase-for-sme-bank-and-rural-development-bank-for-agriculture/
Fintechnews Singapore says digital financial services picks up steam in Cambodia
Over the past few years, digital financial services have seen greater adoption in Cambodia, a trend that was accelerated by the COVID-19 pandemic and the social distancing measures put in place to limit the spread of the virus. ...
Khmer Times Staff
https://www.khmertimeskh.com/1021708/fintechnews-singapore-says-digital-financial-services-picks-up-steam-in-cambodia/
Bakong system blazes digital-money trail
Cambodia, along with China and South Korea, has among the 10 most mature retail central bank digital currencies (CBDC). ...
May Kunmakara
https://www.phnompenhpost.com/business/bakong-system-blazes-digital-money-trail
Cambodia’s banking industry sees three percent GDP growth last year despite pandemic, $38.5 billion in deposits
Cambodia’s banking industry had seen robust growth in loans and deposits in 2021 despite the impact of the COVID-19 pandemic, according to a report of the National Bank of Cambodia (NBC) on Saturday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501008197/cambodias-banking-industry-sees-three-percent-gdp-growth-last-year-despite-pandemic-38-5-billion-in-deposits/
SME Bank mulls unsecured loans for SMEs
The state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) plans to waive collateral requirements for new loans to qualifying local small- and medium-sized enterprises (SME) soon, to reduce the barriers and obstacles that limit their access to the necessary cash to fund ...
Hom Phanet
https://www.phnompenhpost.com/business/sme-bank-mulls-unsecured-loans-smes
Banking and financial institutions disbursed $44.9 billion in loans, an increase of 23 percent
The National Bank of Cambodia (NBC) said that at the end of the third quarter of 2021, banking and financial institutions provided loans totaling 185.1 trillion riels or about $44.9 billion to agriculture, construction, manufacturing, services, wholesale and retail trade and household units. This accounted ...
Khmer Times Staff
https://www.khmertimeskh.com/50992206/banking-and-financial-institutions-disbursed-44-9-billion-in-loans-an-increase-of-23-percent/
Ministry of Commerce and ABA Bank sign MoU on digital payments partnership between CambodiaTrade and ABA Bank
The Ministry of Commerce and ABA Bank on Wednesday signed a memorandum of understanding (MoU) on digital payments and a knowledge-sharing partnership. ...
Post Staff
https://www.postkhmer.com/business/2021-12-09-1022-228062.html
Six MDIs ideal for financial progress: experts
The central bank’s decision to stop issuing new business licences to microfinance deposit-taking institutions (MDI) and encourage mergers among existing banking and financial institutions is a viable strategy that will help strengthen the Cambodian financial sector and is in line with current economic growth trends, ...
Hin Pisei
https://www.phnompenhpost.com/business/six-mdis-ideal-financial-progress-experts
MB selects strategic partner for commercial joint venture bank in Cambodia
MB and Shinsei Bank have signed a master agreement on the establishment of a commercial joint venture bank in Cambodia on Dec. 2. ...
Khmer Times Staff
https://www.khmertimeskh.com/50981817/mb-selects-strategic-partner-for-commercial-joint-venture-bank-in-cambodia/
Khmer Enterprise and CMA enter into partnership to boosting access to financial service for SMEs
Khmer Enterprise (KE), a unit under the Ministry of Economy and Finance and the Cambodia Microfinance Association has entered into a cooperation agreement on promoting access to finance for entrepreneurs and SMEs in the ecosystem of Cambodia. ...