News

Banks support NBC proposal

The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) have expressed support for suggestions the National Bank of Cambodia (NBC) has given to financial institutions to reduce the impact of Covid-19 on the local economy. ...

May Kunmakara
https://www.phnompenhpost.com/business/banks-support-nbc-proposal

Microfinance commits to fulfilling tax obligations

Cambodia Microfinance Association (CMA) yesterday said it has taken steps to fulfill its tax obligations to the government. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50696115/microfinance-commits-to-fulfilling-tax-obligations

MFI loans, deposits grow in first nine months of this year

Outstanding loans and deposits in Cambodia’s crowded microfinance institution (MFI) sector have seen a sharp rise in the first three quarters of this year. ...

May Kunmakara
https://www.phnompenhpost.com/business/mfi-loans-deposits-grow-first-nine-months-year

National Bank of Cambodia slams NGOs’ lending report

The National Bank of Cambodia (NBC) on Thursday slammed a report on predatory lending in the Kingdom by local human rights NGOs Licadho and Sahmakum Teang Tnaut (STT), which was released on Wednesday, as “flawed”. The report, entitled Collateral Damage, claimed that increasing levels of ...

Thou Vireak
https://www.phnompenhpost.com/business/national-bank-cambodia-slams-ngos-lending-report

Bank loan portfolios set to be at least 10% in local currency

Cambodian commercial banks are showing a stronger preference to provide riel loans to microfinance institutions (MFI) as they rush to increase the share of local currency in their loan portfolio to at least 10 per cent by the end of next year. ...

Hor Kimsay
https://www.phnompenhpost.com/business/bank-loan-portfolios-set-be-least-10-local-currency

Firms back loan relief measures for victims

Representatives from the Kingdom’s microfinance sector on Sunday said the industry was keeping a close watch on those impacted by the Mekong River flooding, and that they were willing to take measures to reduce the financial burden on the victims. ...

Hor Kimsay
https://www.phnompenhpost.com/business/firms-back-loan-relief-measures-victims

Delinquent loan rate continues to rise

The rate of microfinance loans with overdue payments nearly doubled last year according to the National Bank of Cambodia (NBC), though it remained within a normal range and was coupled with a rise in deposits. ...

Hor Kimsay
http://www.phnompenhpost.com/business/delinquent-loan-rate-continues-rise

NBC takes licences from 11 lenders

Cambodia’s central bank yesterday announced a decision to revoke the operating licences of 11 rural credit operators for failing the abide by regulations. ...

Hor Kimsay
http://www.phnompenhpost.com/business/nbc-takes-licences-11-lenders

Government reduces tax load on MFIs receiving money from abroad

The Ministry of Economy and Finance (MEF) recently decided to shrink the tax burden for local microfinance institutions (MFIs) by lowering withholding tax on interest from loans acquired from abroad from 14 to 10 percent, a move that the government claims will keep the massive ...

Hor Kimsay
http://www.phnompenhpost.com/business/government-reduces-tax-load-mfis-receiving-money-abroad

CMA launches fund to strengthen MFI staffing

The Cambodia Microfinance Association (CMA) has announced that it will establish a staff development fund to stem the tide of cross-institutional recruitment in the competitive microfinance institution (MFI) sector. ...

Post Staff
http://www.phnompenhpost.com/business/cma-launches-fund-strengthen-mfi-staffing

Microlenders refuse to apply prescribed VAT

The industry body representing the Kingdom’s myriad microfinance institutions (MFIs) threw down the gauntlet yesterday, announcing that its members had categorically rejected a government directive that orders them to charge a value-added tax (VAT) on financial services fees and would not apply it. ...

Hor Kimsay
http://www.phnompenhpost.com/business/microlenders-refuse-apply-prescribed-vat

Interest cap poses body blow for Cambodian microfinance

 Just months ahead of local elections, the Cambodian government has ordered the microfinance industry to cap interest rates on new and refinanced loans at 18 percent a year starting April 1. ...

Robert ​Carmichael
http://www.voacambodia.com/a/interest-cap-poses-body-blow-for-cambodian-microfinance/3783292.html

MFIs seek regulator’s support

The apex body for the nation’s microfinance industry announced yesterday that the central bank had tentatively agreed to a number of measures it had requested to ease the burden on microfinance lenders following last week’s unilateral decision to cap annual interest rates at 18 percent ...

Kali Kotoski and Hor Kimsay
http://www.phnompenhpost.com/business/mfis-seek-regulators-support

MFIs watch rice loans

The country’s financial institutions are closely monitoring loans that have been made to rice farmers, who say that this year’s fall in rice prices will affect their ability to make repayments, industry officials said yesterday. Last year, farmers were paid around 840 riel ($0.21) per kilogram ...

May Kunmakara
http://www.khmertimeskh.com/news/30035/mfis-watch-rice-loans/

Banks covering their assets

Cambodian financial institutions surveyed yesterday said they were in compliance with the central bank’s revised liquidity coverage ratio (LCR) requirements as the deadline passed to increase their cash and highly liquid assets to weather any internal or external shocks. ...

Kali Kotoski
http://www.phnompenhpost.com/business/banks-covering-their-assets

MFI lending continues on course

Cambodia’s microfinance sector continued to expand rapidly during the first half of the year, despite concerns over rising default rates as the industry’s main borrowers – provincial farmers – struggle to repay their loans after successive seasons of drought and poor harvests. ...

Hor Kimsay
http://www.phnompenhpost.com/business/mfi-lending-continues-course

More Cambodians struggling to repay MFI loans

Banking industry insiders expressed concern yesterday over a spike in the amount of delinquent debts reported by microfinance institutions (MFIs) across the Kingdom, which they attributed to farmers struggling to repay their loans after adverse weather conditions affected their crops. ...

Hor Kimsay
http://www.phnompenhpost.com/business/more-cambodians-struggling-repay-mfi-loans

Credit hunger still voracious

In its 10th year, Cambodia’s growing microfinance sector has seen stellar credit and deposit growth. But concerns remain over this speed of credit growth in the sector, as well as the rise in unlicensed lenders operating in rural areas. ...

Cheng Sokhorng
http://www.phnompenhpost.com/business/credit-hunger-still-voracious

Major surge in micro lending, association says

Lending by microfinance institutions (MFIs) rose about 50 percent at an annualized rate during the first nine months of the year, according to the Cambodia Microfinance Association, which said the surge was sparked by economic stability and an increase in demand from clients wanting to ...

Sok Chan
http://www.khmertimeskh.com/news/17497/major-surge-in-micro-lending--association-says/

Microcredit, a ‘double-edged sword’ strategy for migration

In Cambodia, as credit becomes increasingly available, more people are taking loans from microfinance institutions to help with migration.As of June 2015, microfinance institutions lent more than $2 billion, compared to $1.6 billion dollars in 2014, according to the Cambodia Microfinance Association. ...

Ten Soksreinith
http://www.voacambodia.com/content/microcredit-a-double-edged-sword-strategy-for-migration/2979173.html

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