Banking and financial services
Banking and financial services policy and regulation
Neighbours boost cross-border financial ties
Cambodia and Thailand have reaffirmed their commitment to bolster financial collaboration, with a particular emphasis on enhancing cross-border payments to stimulate trade, tourism and investment. ...
May Kunmakara
https://www.phnompenhpost.com/business/neighbours-boost-cross-border-financial-ties
Looking forward: Cambodia unveils FinTech policy 2023-28
Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth unveiled Cambodia’s Financial Technology (fintech) Development Policy for 2023-2028, asserting its potential to harness the advantages of digital transformation in the financial sector and invigorate the country’s socio-economic landscape. ...
Hin Pisei
https://phnompenhpost.com/business/looking-forward-cambodia-unveils-fintech-policy-2023-28
Financial Technology takes center stage in Cambodia’s economic growth plan
Cambodia has unveiled its Financial Technology (Fintech) Development Policy 2023-2028, aiming to enhance financial inclusion, maintain financial stability, and promote innovation. ...
Khmer Times Staff
https://www.khmertimeskh.com/501371701/financial-technology-takes-center-stage-in-cambodias-economic-growth-plan/
NBC Governor joins Vaduz Roundtable Forum on “Financial System 2023”
Governor of the National Bank of Cambodia (NBC) Dr. Chea Serey participated in the Vaduz Roundtable Forum on “Financial System 2023” in Vaduz, Liechtenstein, late last week, to share NBC’s experience in financial system improvement. ...
Khmer Times Staff
https://www.khmertimeskh.com/501362734/nbc-governor-joins-vaduz-roundtable-forum-on-financial-system-2023/
NBC to intervene in foreign exchange market
The National Bank of Cambodia (NBC) will intervene in the currencies market in response to slower demand for riel and appreciation of the US dollar in the international foreign exchange market, an NBC release said. ...
Kang Sothear
https://www.khmertimeskh.com/501351238/nbc-to-intervene-in-foreign-exchange-market/
Spirits high after NBC’s prakas on capital rules
The National Bank of Cambodia’s (NBC) recent two-pronged prakas on capital buffers and the capital adequacy ratio (CAR) of banking and other deposit-taking institutions, which aims to provide a clearer classification system for assets, is poised to strengthen the industry and enhance risk resilience, local ...
May Kunmakara |
https://www.phnompenhpost.com/business/spirits-high-after-nbcs-prakas-capital-rules
Central bank's regulations to boost financial resilience in Cambodia
The National Bank of Cambodia (NBC) has announced the enforcement of regulations on capital buffer and on credit risk for capital adequacy ratios (CAR) for banks and deposit-taking microfinance institutions (MFIs). These measures aim to bolster the management of diverse risks, it said. ...
Sok Raksa
https://www.phnompenhpost.com/business/central-banks-regulations-boost-financial-resilience-cambodia
NBC expanding Bakong operations to more Asian countries
In a bid to promote cross-border economic activities using local currencies, the National Bank of Cambodia (NBC) is expanding the operations of its Bakong blockchain-based payment system to Vietnam, Laos, Myanmar, China, and India. ...
Chea Vanyuth
https://www.khmertimeskh.com/501317628/nbc-expanding-bakong-operations-to-more-asian-countries/
NBC closes 104 rural credit institutions
The Coalition of Cambodia Farmers Community said on Thursday that the recent shutdown of 104 rural credit institutions that provided loans to farmers will not affect their livelihoods, saying that past interest rates were high. ...
Meas Molika
https://kiripost.com/stories/cambodia-nbc-closes-104-rural-credit-institutions
New loan agreement standard for financial industry breeds debate
A “Standard of Loan Agreement” for the financial sector is under preparation, and institutions are expected to begin adopting its principles by June. But insiders and observers have expressed differing views on the precise provisions of the instrument, its potential effects on market competition, and ...
Rann Reuy
https://www.phnompenhpost.com/business/new-loan-agreement-standard-financial-industry-breeds-debate
NBC, Bank of China discuss cross-border payment
National Bank of Cambodia (NBC) and Bank of China on Wednesday discussed means to expand the cross-border payment between the two countries as well as develop transactions in other member states of the Association of Southeast Asian Nations (ASEAN), said a release. ...
Kang Sothear
https://www.khmertimeskh.com/501244403/nbc-bank-of-china-discuss-cross-border-payment/
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/
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/
NBC’s director-general: Promoting financial inclusion
During an interview with CoinDesk’s online web show, “Money Re-imagined”, the Director-General and Assistant Governor of the National Bank of Cambodia (NBC) Chea Serey explained how the central bank is working towards financial inclusion by encouraging the opening of formal savings accounts. ...
Sok Chan
https://www.khmertimeskh.com/50825873/nbcs-director-general-promoting-financial-inclusion/
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/
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
New NBC guidelines on financial institutions
The National Bank of Cambodia (NBC) has requested financial institutions to reduce credit-related fees and lift fines until the end of December 2020, according to a letter it wrote. ...
Sok Chan
https://www.khmertimeskh.com/50717330/new-nbc-guidelines-on-financial-institutions/
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
Riel strategy takes shape
Cambodia’s first draft national strategy on promoting the riel is to be finalised next month and has been sent to the economic and financial policy committee of the Ministry of Economy and Finance for review and endorsement by end of the year. ...
Sok Chan
http://www.khmertimeskh.com/5074917/riel-strategy-takes-shape/
New rules for digital payments
The central bank has issued new regulations governing the licensing of payment services providers (PSPs), requiring that all firms providing online services to accept electronic payments have at least $2 million in registered capital, a move expected to increase the stability of the sector and ...
Hor Kimsay and Matthieu de Gaudemar
http://www.phnompenhpost.com/business/new-rules-digital-payments
Bank services VAT seen as ‘inefficient’
Banking sector leaders have expressed concern over a new government decree that places additional fees on financial services, warning that the costs of what some have described as an “impractical and inefficient” tax would likely be passed along to consumers. ...
Kali Kotoski and Hor Kimsay
http://www.phnompenhpost.com/business/bank-services-vat-seen-inefficient
Central bank to carry out on-site MFI audits
Cambodia’s central bank is to conduct on-site audits of microfinance institutions to check if they are complying with the interest rate cap that came into force more than two months ago, industry insiders have said. ...
May Kunmakara
http://www.khmertimeskh.com/news/39098/central-bank-to-carry-out-on-site-mfi-audits/
Custodian could spur fund interest
The government is working on legislation that would create a framework for the establishment of a custodian bank in Cambodia, according to securities firms, which claim the absence of this institution could be deterring foreign investors from participating in share offerings on the local stock ...
Brian Ng
http://www.phnompenhpost.com/business/custodian-could-spur-fund-interest
Interest cap poses body blow for Cambodian microfinance
Just months ahead of local elections, the Cambodian government has ordered the microfinance industry to cap interest rates on new and refinanced loans at 18 percent a year starting April 1. ...
Robert Carmichael
http://www.voacambodia.com/a/interest-cap-poses-body-blow-for-cambodian-microfinance/3783292.html