Economy and commerce

Banking and financial services

OJK, Cambodia’s FSA enhance collaboration in financial supervision responsibilities

The Indonesian Financial Services Authority, commonly known as OJK, has joined forces with its Cambodian counterpart to bolster the supervision of non-bank financial institutions and contribute to the stability of the global financial system. ...

Khmer Times Staff
https://www.khmertimeskh.com/501339466/ojk-cambodias-fsa-enhance-collaboration-in-financial-supervision-responsibilities/

Debt growth vigilance crucial: Expert

The Cambodian banking industry is facing increasing systemic risks due to the looming economic uncertainty and rising non-performing loans (NPLs). ...

May Kunmakara
https://www.phnompenhpost.com/business/debt-growth-vigilance-crucial-expert

KB Kookmin Bank launches integrated bank in Cambodia

South Korea’s KB Kookmin Bank on Sunday said it received final approval on Friday from Cambodia’s Ministry of Commerce to launch the integrated commercial bank KB Prasac Bank. ...

Khmer Times Staff
https://www.khmertimeskh.com/501338603/kb-kookmin-bank-launches-integrated-bank-in-cambodia/

KHQR records 400K transactions in one year

In one year since its official rollout in 2022 by the National Bank of Cambodia, KHQR, the universal quick response (QR) platform of the country for digital payments, has recorded nearly 400,000 transactions. ...

Manoj Mathew
https://www.khmertimeskh.com/501336016/khqr-records-400k-transactions-in-one-year/

IFC watchdog’s investigation into Cambodia’s top microfinance firms allowed to proceed

The International Finance Corporation’s (IFC) watchdog announced Tuesday it will proceed with an investigation into Cambodia’s leading microfinance firms, after the IFC withdrew a request for review of the decision to investigate. ...

Jack Brook
https://cambojanews.com/ifc-watchdogs-investigation-into-cambodias-top-microfinance-firms-allowed-to-proceed/

Cambodia sees significant increase in digital payments with e -wallets exceeding 20.2 million

Cambodia has recorded a sharp rise in mobile payments as more and more people have turned from cash-based to digital transaction options, the National Bank of Cambodia (NBC) said. ...

Khmer Times Staff
https://www.khmertimeskh.com/501336216/cambodia-sees-significant-increase-in-digital-payments-with-e-wallets-exceeding-20-2-million/

Cambodia’s riel now on Singapore’s foreign exchange

Cambodian people and foreigners who are in need of riel banknotes before arrival in the Kingdom can now be able to change foreign currencies for Cambodia’s national currency at the Travelex money exchange counters in Singapore’s major international airport commonly known as Changi Airport, said ...

Kang Sothear
https://www.khmertimeskh.com/501334438/cambodias-riel-now-on-singapores-foreign-exchange/

Cambodia’s central bank says foreign reserves increased to $18.4 billion as of June

Cambodia’s international reserves had risen to $18.4 billion as of June 2023, up 3.2 percent from $17.82 billion at the end of 2022, said a report of the National Bank of Cambodia (NBC) on Monday. ...

Khmer Times Staff
https://www.khmertimeskh.com/501334799/cambodias-central-bank-says-foreign-reserves-increased-to-18-4-billion-as-of-june/

Cambodia issues Government Bond of $27 million in H1

The government has raised funds through government bond issuance with a total of $27 million in the first six months of this year, accounting for 13.5 percent of the $200 million target. ...

Khmer Times Staff
https://www.khmertimeskh.com/501334815/cambodia-issues-government-bond-of-27-million-in-h1/

Cambodia’s banking, financial industry stays healthy in H1, with outstanding loans rising to $58.6 billion

FacebookTwitterEmailShareCambodia’s banking and financial industry continued to enjoy healthy growth in both loans and deposits in the first half of 2023, said the biannual report of the National Bank of Cambodia (NBC) released on Monday.​​ ...

Khmer Times Staff
https://www.khmertimeskh.com/501334791/cambodias-banking-financial-industry-stays-healthy-in-h1-with-outstanding-loans-rising-to-58-6-billion/

NBC: ‘Robust’ lenders to remain key growth drivers

The banking system has demonstrated its robustness through high levels of liquidity and capital, and will remain sound and resilient while playing a crucial role in supporting economic activities, despite recent global turbulence, according to the National Bank of Cambodia (NBC). ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-robust-lenders-remain-key-growth-drivers

Central bank poised to auction off 90B riel on July 25

The National Bank of Cambodia (NBC) is set to hold its 134th liquidity-provided collateralised operation (LPCO) on July 25, making 90 billion riel ($22 million) available to local financial institutions in need of liquidity, through an auction to buy US dollars. ...

May Kunmakara
https://www.phnompenhpost.com/business/central-bank-poised-auction-90b-riel-july-25

Chinese yuan not to be legalized in Cambodia, NBC confirms

The agreement between the National Bank of Cambodia (NBC) and UnionPay International is not to legalize the Chinese currency in the nation but rather to raise the prestige of the Khmer riel through cross-border QR payments, NBC’s deputy governor-general confirmed after concerns were raised over ...

Mao Sreypich
https://kiripost.com/stories/nbc-chea-serey-chinese-yuan-not-to-be-legalized-in-cambodia

Consumers’ complaint mechanism soon, NBC says

The National Bank of Cambodia has prepared a draft proclamation on standardised or common consumers’ complaint response mechanism for all banking, payment and financial institutions in the country to comply with NBC’s guidelines after consumers have expressed dissatisfaction over the existing mechanisms, said a senior ...

Kang Sothear
https://www.khmertimeskh.com/501325554/consumers-complaint-mechanism-soon-nbc-says/

NBC navigating China’s cross-border interbank payment system: Serey

Cambodia’s journey towards becoming a member of the Chinese central bank’s Cross-Border Interbank Payment System (CIPS) will require more time due to the “stringent conditions” put forth by the central bank, according to National Bank of Cambodia (NBC) deputy governor Chea Serey. ...

Van Socheata
https://www.phnompenhpost.com/business/nbc-navigating-chinas-cross-border-interbank-payment-system-serey

Cross-border QR payments between China and Cambodia launch

The National Bank of Cambodia (NBC) and UnionPay International (UPI) signed a deal on Monday to promote cross-border payment with China and improve the use of the Khmer riel. ...

Yatt Malai
https://kiripost.com/stories/cross-border-qr-payments-between-china-and-cambodia-launch

CBC’s CEO talks digitalization, alternative data and financial health checks

Cambodia cemented itself as a regional leader in the finance sector when the nation signed a deal with Singapore in March to exchange consumer credit information. This marked the region’s first cross-border initiative between two countries’ credit bureaus. ...

Marissa Carruthers
https://kiripost.com/stories/cambodia-cbcs-ceo-talks-digitalization-alternative-data-and-financial-health-checks

Access to finance, rise of the riel and inflation, with CBC

Since its establishment in 2012, Credit Bureau Cambodia (CBC) has helped drive the nation’s economic growth while providing a transparent and responsible lending landscape. This in turn has helped increase investment and access to finance nationwide. ...

Marissa Carruthers
https://kiripost.com/stories/credit-bureau-cambodia-ceo-on-access-to-finance-rise-of-riel-inflation

Financiers taking national ID cards as collateral to face action

Cambodia’s Ministry of Interior has issued a warning against the use of national identity cards as collateral for loans as it violates the guidelines of the National Bank of Cambodia (NBC). ...

Nhean Chamrong
https://www.khmertimeskh.com/501321287/financiers-taking-national-id-cards-as-collateral-to-face-action/

Cambodia’s electronic payment amount among highest in world

The amount of payments made via electronic system in Cambodia reached nearly 1,000 percent of the country’s Gross Domestic Product (GDP) in 2022, said a senior official of National Bank of Cambodia (NBC). ...

Kang Sothear
https://www.khmertimeskh.com/501319532/cambodias-electronic-payment-amount-among-highest-in-world/

NBC sets new capital, risk rules for banks, financial institutions

The National Bank of Cambodia (NBC) yesterday released two proclamations that set new requirements for depositing-taking banks and financial institutions to strengthen the quality of their capital to increase the effectiveness of preventing main banking risks and assess credit risks at lower rates to boost ...

Kang Sothear ​
https://www.khmertimeskh.com/501318139/nbc-sets-new-capital-risk-rules-for-banks-financial-institutions/

NBC launches Cambodian Shared Switch

The National Bank of Cambodia (NBC) has launched Cambodian Shared Switch (CSS) for convenient cross-institutional payments and integration with regional countries. ...

Seng Mengheng
https://kiripost.com/stories/cambodia-nbc-launches-cambodian-shared-switch-css-atm

AIIB lends $100m to ACLEDA for SME loans

ACLEDA Bank Plc has borrowed $100 million from China-owned Asian Infrastructure Investment Bank (AIIB) to provide new loans to micro, small and medium enterprises, according to its latest filing with Cambodia Securities Exchange. ...

Sangeetha Amarthalingam
https://kiripost.com/stories/cambodia-aiib-lends-100m-to-acleda-for-sme-loans

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

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