Banking and financial services

E-Money, which operates under Metfone, and Pay&Go SEA (Cambodia), entered into a partnership for money transfers, mobile phone top-ups and the payment of utility bills. ...

While Cambodia’s crowded banking sector has enjoyed strong growth, the majority of consumers surveyed have cited dissatisfaction with banking services as a main impediment for the sector’s confidence and future growth. ...

Cambodia’s leading commercial bank Acleda in partnership with MasterCard Asia and the Pacific, last week launched the Acleda MasterCard electronic plastic card to allow customers to make withdrawals through any ATM as well as make payments around the world where the MasterCard logo is displayed. ...

The Ministry of Economy and Finance in partnership with Cambodian Public Bank Plc. signed a memorandum of understanding (MoU) yesterday, establishing the bank as the Ministry’s prime tax collecting institution nationwide. ...

The National Bank of Cambodia responded to rumours yesterday that local banks were no longer accepting US dollar banknotes with minor imperfections, such as small tears, creases or ink stamps, stating that the central bank had not changed its policies. ...

The KB Global Digital Bank is a rechargeable wallet-based mobile banking service which combines both financial services, such as account, wire transfer, overseas remittance and P2P payment, and non-financial services like messaging. ...

A South Korean phone-based money transfer company has partnered with Wing Specialized Bank to tap into remittance services for Cambodians living and working abroad. ...

Cambodia’s leading commercial bank Acleda announced late last week that it has injected an additional $42 million to top up the current share capital of $265.7 million, bringing the total registered share capital to $307.7 million. ...

Wing Specialised Bank is trying to stay ahead of the game in the money transfer and mobile payment sector by forging new partnerships. The Post’s Ayanna Runcie sat down with Wing’s recently appointed CEO Jojo Malolos to discuss his plan for the company’s future. ...

The Singapore investor of Le Urban Eco Park, an ecologically-friendly satellite city, and Maybank have reached a deal to sell residential apartments and shop buildings in the park as the project nears completion by the end of the year. ...

Woori Bank, South Korea’s second-largest bank in terms of assets, is vying to purchase a 50 per cent stake Cambodia’s largest microfinance institution, Prasac, the company’s CEO confirmed yesterday. ...

The National Bank of Cambodia (NBC) received a grant totaling $8 million from the South Korean government, through the Korea International Cooperation Agency (KOICA) to modernize its national retail payment system as the Kingdom gets ready to trade in the Asean Economic Community. ...

Singapore-based Phillip Bank announced yesterday that Cambodian borrowers that can prove a consistent monthly income will be able to access lines of credit without putting down collateral. ...

The International Finance Corporation (IFC), a member of the World Bank Group, has provided a $13 million loan to support a higher education campus for the Acleda Institute of Business that will help raise education standards, enhance students’ employability and encourage sustainable economic growth. ...

Malaysia’s award-winning Public Bank, which is celebrating its 50th Golden Jubilee this year, is one of the first foreign banks to open its door in Cambodia in 1992. ...

Prudence Foundation, established by Prudential Life Insurance, launched its nationwide financial literacy program Cha-Ching yesterday. ...

Acleda Bank signed an agreement in Bangkok yesterday with International Finance Corporation and the Goldman Sachs 10,000 Women initiative for a $70 million long-term loan project to support Cambodia’s small- and medium-size enterprises (SME) owned by women. ...

ANZ Royal announced yesterday that it has bagged the prestigious 2016 Triple A Awards from The Asset magazine after being named as the best trade finance bank in Cambodia. ...

Maybank Cambodia launched its first mobile application, which features Augmented Reality and QR Code Reader, on Saturday. ...

The South Korea-based Nong Hyup Bank plans to open a branch in the Kingdom and will focus on investments and loans in the agriculture sector, according to a senior official in the Ministry of Agriculture. ...

Facilitated by Taiwan’s First Commercial Bank, seven foreign banks provided $35 million in a syndicated loan to Sathapana Bank Plc, a newly formed Cambodian commercial bank, to expand its existing microfinance operations and broaden its commercial lending portfolio. ...

Khmer Specialized Bank, a subsidiary of Khmer Holding Group, was officially inaugurated to offer financial services to Cambodians yesterday, with $21 million worth of investment capital and becoming the 13th specialized bank in Cambodia. ...

A government official lambasted the slow application rate for non-governmental organizations (NGOs) that operate as microfinance lenders, urging them to register with the National Bank of Cambodia (NBC). ...

The International Finance Corporation (IFC) signed a Memorandum of Understanding with the National Bank of Cambodia (NBC) yesterday in a move that officials are predicting will usher in a new era of responsible corporate governing practices, transparency, financial risk management and public confidence in the ...