Banking and financial services
Banking and financial services policy and regulation
Gov’t to finish Northern rail line in 2016
The government has set aside some $33 million to finish rebuilding Cambodia’s northern rail line by late next year, according to the Transportation Ministry, reanimating a long-delayed and over-budget project that had been one of the Asian Development Bank’s priorities in the country. ...
Zsombor Peter
https://www.cambodiadaily.com/news/govt-to-finish-northern-rail-line-in-2016-89463/
Stalled interbank market clogging up liquidity
At least $1 billion in surplus liquidity is sitting idle in Cambodia’s banking system and could be unlocked if the central bank implemented a more effective interbank lending mechanism, experts say. ...
Cam McGrath
http://www.khmertimeskh.com/news/12776/stalled-interbank-market-clogging-up-liquidity/
$65 mln loan to expand microfinance
Three Thai banks have joined IFC’s $65 million syndication loan to a Cambodian microfinance institution to boost the access to funding of micro, small, and medium rural and agricultural enterprises, most of which are owned by women. ...
Va Sonyka
http://www.khmertimeskh.com/news/12730/business-briefs/
Cambodian, Japanese financial bodies sign cooperation deal on bank supervision
The National Bank of Cambodia ( NBC), or the Central Bank, and the Japan Financial Services Agency (JFSA) signed a cooperation agreement on Wednesday, aiming at exchanging experience and expertise in the area of bank supervision, according to a news statement. ...
Vietnamese migrants arrested, deported
Cambodia’s immigration police arrested eight illegal Vietnamese migrants and deported 10 other Vietnamese nationals from the Kingdom on Wednesday. ...
Ros Chanveasna
http://www.khmertimeskh.com/news/12157/vietnamese-migrants-arrested--deported/
Body notes ‘significant’ anti-laundering strides
An inter-governmental anti-money laundering group has stopped monitoring Cambodia after it said the Kingdom had made “significant progress” toward fighting financial crimes. ...
Daniel Pye
http://www.phnompenhpost.com/body-notes-significant-anti-laundering-strides
Central Bank seeks to give Riel a boost
Cambodia’s central bank will use its upcoming Second Macroeconomic Conference to discuss how best to promote the use of the riel and hasten de-dollarisation in the economy, according to an official release yesterday. ...
May Kunmakara
http://www.phnompenhpost.com/central-bank-seeks-give-riel-boost
Credit up 30 per cent in 2014
Both deposits and loans in Cambodia’s banking sector increased about 30 per cent last year, a rise that industry insiders say is a productivity boost for the Kingdom’s economy. By the end of December, deposits at all Cambodian banks reached $10 billion, a 32 per cent ...
Hor Kimsay
http://www.phnompenhpost.com/credit-30-cent-2014
Cambodia's banks continue enjoying strong growth this year: vice-governor
Cambodia’s banking sector has continued enjoying robust growth in both loans and deposits this year, Ouk Maly, vice-governor of the National Bank of Cambodia, said Wednesday. ...
Global Post News Staff
http://www.globalpost.com/dispatch/news/xinhua-news-agency/141008/cambodias-banks-continue-enjoying-strong-growth-year-vice-go
Outstanding credit could reach $30B by 2020
The total amount of loans in Cambodia’s banking sector could rise to $30 billion by 2020, according to a report released today by Mekong Strategic Partners, a new investment and advisory fund. Amid such growth, banks will be challenged to drastically expand their operations and will ...
George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/outstanding-credit-could-reach-30b-by-2020-69127/
As banking sector booms, overbanking looms
Last month, Cambodia’s nascent yet rapidly expanding banking sector saw the new arrival of Phillip Bank through the acquisition of Hwang DBS Commercial Bank by Singapore’s Philip Capital in a $40 million deal. The number of banks in the country has more than doubled since 2005, ...
Kang Sothear and George Styllis
http://www.cambodiadaily.com/business/as-banking-sector-booms-overbanking-looms-67824/
Cambodian banks see 9.3 pct lending growth in 1st half of 2014: central bank
Cambodia’s banking sector has reported a 9.3-percent increase in lending in the first six months of the year, according to the figures from the National Bank of Cambodia (NBC) on Sunday. The figures showed that the kingdom’s 35 commercial banks had lent a total of 8.09 ...
Global Post News Staff
http://www.globalpost.com/dispatch/news/xinhua-news-agency/140803/cambodian-banks-see-93-pct-lending-growth-1st-half-2014-cent
As Cambodia’s financial sector grows, so do its challenges
The National Bank of Cambodia on Wednesday hosted its first annual macroeconomic conference, outlining the need to ensure Cambodia’s rapidly growing financial sector supports sustainable and inclusive economic growth while managing greater risks. Cambodia’s banking and microfinance sectors have seen enormous growth in recent years with ...
Kang Sothear and George Styllis
http://www.cambodiadaily.com/business/as-cambodias-financial-sector-grows-so-do-its-challenges-65414/
Lending by Cambodia's banks rises 6 pct as deposits grow 10 pct in Q1: central bank
Lending by Cambodia’s commercial banks rose by 6 percent while deposits grew by 10 percent in the first quarter of this year, a National Bank of Cambodia (NBC)’s report said Tuesday. The report said the country’s 34 commercial banks had lent a total of 7.87 billion ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/world/2014-06/11/c_133397680.htm
Cambodia launches new 50,000-riel banknote to celebrate king's birthday
The National Bank of Cambodia on Tuesday officially issued a new 50,000-riel banknote (in equivalent to 12.5 U.S. dollars) in order to mark King Norodom Sihamoni’s 61st birthday, which falls on May 14. A sub-decree on the issuance of the new banknote was endorsed by ...
Asean-China-Center
http://www.asean-china-center.org/english/2014-05/07/c_133316546.htm
Royal Group affirms its commitment to ANZ
Local conglomerate Royal Group said Tuesday that while it is committed to its partnership with Australia-based ANZ bank, it would entertain selling its stake in ANZ Royal Bank for “a very high offer.” “The Royal Group would like to clarify that it is a strong and ...
Joshua Wilwohl
http://www.cambodiadaily.com/business/royal-group-affirms-its-commitment-to-anz-54904/
China's ICBC approved by Cambodia central bank as yuan clearing bank
Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, said on Tuesday it has been approved by National Bank of Cambodia as a clearing bank for the Chinese yuan currency in the country. ...
The Business Times News Staff
http://www.businesstimes.com.sg/breaking-news/asia/chinas-icbc-approved-cambodia-central-bank-yuan-clearing-bank-20140325
NBC won’t recognise bitcoin
Cambodia’s central bank won’t recognise bitcoin as a form of payment, making the Kingdom the latest Asian country to reject the digital currency. National Bank of Cambodia director-general Chea Serey confirmed the regulator’s stance on the issue on Wednesday, citing the absence of any e-commerce law ...
Eddie Morton
http://www.phnompenhpost.com/business/nbc-won%E2%80%99t-recognise-bitcoin
Amid stable outlook, Moody's confirms Cambodia credit rating
Moody’s Investors Service affirmed Wednesday Cambodia’s government issuer rating at B2 with a stable outlook, stating that recent labour unrest could result in only slightly slower economic growth this year. “Cambodia’s underlying credit strengths are expected to withstand the impact of recent political tensions and labor ...
The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=MmM0MmU3NmU4MmU
Cambodia's banks see robust growth in recent years: PM
Cambodian Prime Minister Hun Sen said Tuesday that the country’s banking sector has enjoyed strong growth in recent years and urged the banks to increase their lending to agriculture. According to the report of the National Bank of Cambodia, lending at the kingdom’s 34 commercial banks ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=204458
Cambodia's micro-lenders see 44 pct lending growth last year
Cambodia’s 38 microfinance institutions reported a 44 percent increase in loan disbursements in 2013, according to a report of the National Bank of Cambodia (NBC), the regulator of banking and finance institutions in the country. The microfinance institutions had lent a total 1.17 billion U.S. dollars ...
Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=199165
Cambodia's economy achieves 7 pct growth last year despite political row: central bank
Cambodia’s economy grew by 7 percent in 2013 even though political row over the July election has still persisted, the National Bank of Cambodia (NBC) said Tuesday. The growth was lower than that of 2012, which was up to 7.3 percent. “In 2013, Cambodia’s economy achieved ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-01/21/c_133062259.htm