Two more banks setting up shop

The National Bank of Cambodia has issued a commercial banking licence to a Taiwanese bank, while another banking licence is pending approval for a Chinese-Cambodian joint venture, central bank Director General and Spokeswoman Ngoun Sokha said yesterday. The central bank had licensed Taiwan’s Mega International Commercial Bank to set up in the Kingdom, she said. While the sector is steadily advancing, Ngoun Sokha she was not concerned about there being too many banks, adding that additional banks are required to attract further foreign investors to the market.

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