Banking and financial services

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. ...

Techo Startup Centre (TSC), under the Ministry of Economy and Finance and the association of banks in Cambodia, yesterday signed a memorandum of understanding (MoU) on cooperation to promote financial technology systems in Cambodia. ...

National Bank of Cambodia yesterday launched a book called “Building Inclusive Finance”. It traces the development of microfinance in Cambodia from its origins in rural development programmes in the early 1990s to the globalised industry it is today.​ The book was written by Ron Bevacqua, ...

Prime Minister Hun Sen has reiterated his appeal to all financial institutions not to take tough actions against debtors as they (debtors) faced difficulties in repaying loans amid the COVID-19 pandemicwhich is wrecking havoc on the economy. ...

The banking sector saw loan restructuring of $2.16 billion covering 44,500 accounts as of June this year, according to a report from the Association Banks of Cambodia (ABC). ...

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.​ ...

A senior official from the SME Bank of Cambodia said   it has approved around $22 million in loans under the SME Co-Financing Scheme for 175 clients as of Tuesday. ...

Unlocking greater access to formal finance for Cambodian women will play a strategic role in the process of the Kingdom’s economic development, National Bank of Cambodia (NBC) director-general Chea Serey said on Monday. She said this at the Training on the Trainers (ToT) Programme on Financial ...

MINISTER of Economy and Finance Aun Pornmoniroth approved in principle the concept of strategic framework for establishing the Credit Guarantee Corp Cambodia, according to a statement from the Ministry of Economy and Finance (MEF). ...

Acleda Bank Plc, Cambodia’s largest locally-owned commercial bank, has signed a $130 million long-term facility agreement with Chinese state-owned China Development Bank Corp (CDB), the world’s largest development bank by assets, it said in a press release on Friday. ...

The National Bank of Cambodia (NBC) says the banking sector will continue to grow confidently and actively contribute to economic activity. At the same time, the banking and finance sector continues to promote financial inclusion with the number of deposit clients reaching 8.2 million accounts ...

Cambodia has seen recent and rapid growth in digital and electronic payment services, where the platform is regarded as a key to promote the Kingdom’s financial inclusion. ...

Farm loan applications to the state-owned Agricultural and Rural Development Bank (ARDB) reached $31 million on Friday. ARDB director-general Kao Thach said applications for government loans have been growing rapidly since the government officially launched a $50 million fund in March. ...

The National Bank of Cambodia (NBC) will host its seventh Annual Macroeconomic Conference under the theme “Discussion of Cambodia’s Economic Development Models” to gather input from academics, researchers, industry insiders and economists about how to structure the economy in a post-Covid-19 world. ...

Reports of local vendors refusing to accept small US currency banknotes has continued over the weekend, despite repeated calls from both the Kingdom’s central bank and Prime Minister Hun Sen that all US currency banknotes will still be considered “legal tender”. ...

Agriculture Rural Development Bank (ARDB) together with Wing (Cambodia) Ltd Specialized Bank and Cambodia Investors Corp (CIC) inked a memorandum of understanding (MoU) to facilitate loan repayments, encourage the use of digital banking and to provide information to borrowers to guarantee the credit deal. ...

Agriculture Rural Development Bank (ARDB) together with Wing (Cambodia) Ltd Specialized Bank and Cambodia Investors Corp (CIC) inked a memorandum of understanding (MoU) to facilitate loan repayments, encourage the use of digital banking and to provide information to borrowers to guarantee the credit deal. ...

The private sector plans to launch the first small and medium-sized enterprise (SME) competition in Cambodia to promote the SME sector and seek financial loan support for business expansion. ...

Cambodian’s will soon be able to make near-instant payments via a new blockchain payment platform being launched under a system called Distributed Ledger Technology (DLT) that will “ultimately undermine the popularity of the US dollar”, according to the Kingdom’s central bank director. ...

Credit Bureau Cambodia (CBC) has reported that the total outstanding loans in the first quarter of the year reached about $28.4 billion, up to 26 percent compared with the same period last year. ...

The Central Bank has reported that the total value in the leasing industry was recorded at  1,169 billion KHR ($287million), an increase of about  63 percent in 2019 compared with the year before. ...

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. ...

South Korea-owned Phnom Penh Commercial Bank Plc (PPCBank) on Tuesday officially listed its first corporate bond on the Cambodia Securities Exchange (CSX). ...

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). ...