Big strides for savings in MFIs
Microfinance deposits are on the rise, a positive trend that the industry says is moving the country towards a reduced dependency on foreign funding and that will eventually lead to greater control over interest rates. The seven microfinance institutions licensed to take deposits collected $209 million ...
Deposits rally after election outflows
Savings levels at Cambodia’s microfinance institutions (MFIs) have recovered well since the widespread withdrawal that followed last July’s disputed national election, with more than $90 million deposited in the first quarter of this year. The amount of deposits in MFI accounts fell from $378 million in ...
Housing loans up in 2013, growth expected to continue in ’14
Last year across Cambodia’s cities, more and more people decided to take the plunge and invest in housing. This should be obvious to anyone who lived in Cambodia last year. The sounds of construction or renovation were more noticeable than before in cities across the Kingdom. Data ...
Micro-insurance needs revamp: UN
The UN urged government and financial organisations to stimulate Cambodia’s flailing micro-insurance industry yesterday, after a study found the country’s poor are vulnerable to indebtedness during a crisis. The United Nations Development Business (UNDB) hosted a working group yesterday at Phnom Penh’s Sunway Hotel launching the ...
Debtors need mercy: CNRP
The opposition party has called on microfinance institutions to renegotiate payment terms with flood-affected loan holders. This year’s floods have affected 20 provinces and more than 1.7 million people, with 31,314 households evacuated, according to the Humanitarian Response Forum. The Cambodia National Rescue Party has asked that ...
Cambodia's micro-lenders report 33 pct loan growth in 9 months
Cambodia’s 35 microfinance institutions had lent $1.18 billion to their customers by the end of September this year, a 33 percent rise from $890 million at the end of last year, a report of the Cambodia Microfinance Association (CMA) said Friday. On the deposit side, the ...
Global Times News Staff
MFI loans, deposits continue to increase
Both outstanding loans and savings deposits in 35 microfinance institutions (MFIs) continued to grow from January through to June this year, according to the latest report from the Cambodia Microfinance Association (CMA). By the end of the first half of this year, total loans from MFIs ...
Informal lending still thriving
The expanding banking sector and the spread of microfinance institutions (MFIs) in rural areas have failed to elbow informal, unlicensed money lending out of the market, industry experts say. Fast and easy access to money – as well as the fear of “losing face” by borrowing ...
Instalment payments for goods gaining purchase
AEON Microfinance (Cambodia) Co, part of Japan-based AEON Group, said sales by instalment for electrical appliances and motorbikes increased by 715 per cent in the first quarter of 2013 year on year, a trend industry experts say will grow further with increasing demand for electronics. Started ...
New MFI To Launch Operations
A new microfinance institution (MFI), ORO Financecorp Plc, is set to open in Cambodia, according to the director-general of the National Bank of Cambodia (NBC). Cambodia already has 35 registered MFIs, according to a recent report by the Cambodia Microfinance Association (CMA). Last week, the ...
Cambodia's micro-lenders record 24 pct lending growth in Q1
Cambodia’s 35 microfinance institutions had lent 1 billion U.S. dollars to customers by the end of March this year, up 24 percent from 808 million U.S. dollars it lent at the end of last year, the data of Cambodia Microfinance Association (CMA) showed Wednesday. On the ...
Huge Increase in MFI Loans, Deposits
More economic activity and a better understanding of using formal financial services among rural residents are leading to good loan performance rates and increases in savings deposits in Cambodia’s microfinance industry, according to industry sources. The loan portfolios of the 35 registered microfinance institutions (MFI) and ...
Local MFIs’ high-tech investment
The first time Leang Horng, a resident of Kandal province’s Saang district, made use of a micro-finance institution, a loan was the only service he needed. At that time, Horng had no idea about deposits or money transfers. But things have changed in the past few ...
Loans and deposits climb
Loans and deposits at Cambodia’s 32 micro-finance institutions and four NGOs, as well as small loans from Acleda Bank, rose sharply last year compared with a year earlier. Industry players say this is a result of the Kingdom’s rapid economic improvement and political stability. Official data from ...
Come floods or high waters, most MFIs continue to loan
After experiencing decades of floods, Cambodia’s microfinance institutions say they no longer have problems disbursing loans during the rainy season, according to the head of Cambodia’s Microfinance Association (CMA). A survey issued early this year by a coterie of international aid organisations, including Oxfam, Care, PACT ...
France helps Microfinance and Hevea Sector
Two financing agreements, implemented by the French Development Agency, were signed on 12 July 2012 at the Ministry of Economy and Finance, in the presence of the Deputy Prime Minister, Minister of Economy and Finance, H.E.M. Keat Chhon, to support two key sectors for economic and rural development of Cambodia. A financing agreement of 800,000 Euros (1 ...