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Cambodia has designed strategies to give riel (local currency) a boost so as to reduce dollarization, which represents about 80 percent of the currencies circulated in the country, the Central Bank’s senior officials said Tuesday. ...

Cambodia’s central bank is seeking to promote the use of the riel and wean the Kingdom’s economy off its dependence on the US dollar, a senior banking official said on Tuesday. Speaking at a luncheon organized by the British Chamber of Commerce in Cambodia (BritCham), Chea ...

Public and private sector representatives have urged the Cambodian government to fast-track policies to foster a more “formalised”, compliant and productive small- to medium-size enterprise (SME) sector. Chea Serey, director general at the National Bank of Cambodia said the high cost of regulatory compliance, a ...

The National Bank of Cambodia (NBC) lacks the resources to enforce regulatory standards and bail out underperforming banks during times of need, credit ratings agency Standard & Poor’s says. Cambodia’s banking sector was labelled high-risk, with a score of nine out of 10 on S&P’s2014 Banking ...

ANZ Royal Bank and local microfinance institution Hattha Kaksekar Limited (HKL) on Monday entered into the first partnership of its kind in Cambodia in a bid to bring together clients from either side of the financial spectrum. Following the signing of a Memorandum of Understanding at ...

As much as $320 million is being lost annually as a result of Cambodia’s reliance on the US dollar, while a longstanding mistrust in the riel means there is less of the local currency in circulation, restricting the national bank’s ability to respond in times ...

Cambodia’s central bank won’t recognise bitcoin as a form of payment, making the Kingdom the latest Asian country to reject the digital currency. National Bank of Cambodia director-general Chea Serey confirmed the regulator’s stance on the issue on Wednesday, citing the absence of any e-commerce law ...

Chea Serey, the daughter of National Bank Governor Chea Chanto, has been promoted to director-general of the central bank, she confirmed this week. Ms. Serey will replace Nguon Sokha, who said that she left the National Bank about a month ago after being appointed as a ...

The price of food spiked this month, and Cambodia’s low-paid garment workers are feeling the effects. Meat, vegetables, toothbrushes, beauty accessories and even the plastic bags they get packed in have all seen a sharp bump up in price this month, some items by as much ...

More than $600 million flooded out of Cambodia’s entire banking system during the third quarter of this year, as fears of post-election chaos set off panic and mass withdrawals, new figures from the National Bank of Cambodia (NBC) reveal. The figures, obtained yesterday, were the first ...

ANZ Royal Bank has transacted a landmark commodities hedging deal with a local oil importer, officials at the bank said yesterday. The deal allows the company, whose name ANZ Royal would not disclose, citing confidentiality agreements, to lock in an agreed price for the future sale ...

The Institute of Bankers Malaysia (IBBM) has launched the Chartered Banker qualification for the Cambodian banking industry to develop talents in the banking industry in that country. The launch of the Chartered Banker qualifications was officiated today by the National Bank of Cambodia Deputy General ...

Japanese Bank of Tokyo-Mitsubishi UFJ (BTMU) signed an agreement yesterday with local Canadia Bank to shore up Japanese growth in Cambodia and to demonstrate its confidence in the Kingdom’s financial sector. BTMU’s managing executive officer, Takami Onodera, and Pung Kheav Se, chairman of Canadia Bank, yesterday ...