News

Lenders foresee challenges in raising the local currency ratio

Commercial lenders have said the central bank’s requirement that banks and microfinance institutions (MFIs) increase the share of local currency in their loan portfolio to at least 10 percent by the end of 2019 could prove challenging to implement as their biggest clients exhibit a ...

Hor Kimsay
http://www.phnompenhpost.com/business/lenders-foresee-challenges-raising-local-currency-ratio

Microloans work for some, leave many in debt

Nearly everyone living in Pann Sopheatra’s village, just across the Mekong River from Phnom Penh, has either taken out a microfinance loan or knows someone who has.   ...

Matt Surrusco and Buth Kimsay
https://www.cambodiadaily.com/news/microloans-work-for-some-leave-many-in-debt-126762/

Mobile firms told to spread message: MFIs not state-run

Prime Minister Hun Sen on Wednesday pulled the country’s mobile operators into his aggressive campaign to clear up any confusion about the relationship between the government and microfinance institutions (MFIs), ordering them to send audio and text messages telling subscribers that MFIs were private entities. ...

Kuch Naren
https://www.cambodiadaily.com/news/mobile-firms-told-to-spread-message-mfis-not-state-run-125665/

8 billion riel released

The National Bank of Cambodia (NBC) on Tuesday released eight billion riel (about $2 million) at three percent interest to just one financial institution that joined the third bidding of the new Liquidity-Provided Collateralized Operation (LPCO). ...

Sok Chan
http://www.khmertimeskh.com/news/33442/8-billion-riel-released/

Software for cleaner money

Tess International, a Malaysia-based provider of software solutions for the financial sector, signed a distributor agreement yesterday with Cambodian management consulting and business technology firm IdeaLink Consulting to provide software to Cambodian banks and microfinance institutions that helps them combat financial crimes. ...

Hor Kimsay
http://www.phnompenhpost.com/business/software-cleaner-money

Repo auction offers quick liquidity fix

The National Bank of Cambodia rolled out a new mechanism yesterday that offers immediate liquidity to financial institutions to cover their payments and reserve obligations, while giving the central bank greater control over the country’s money supply and moving toward the establishment of a benchmark ...

Hor Kimsay
http://www.phnompenhpost.com/business/repo-auction-offers-quick-liquidity-fix

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/

No sign of relief for rice industry

As the harvest season of Cambodia’s most important crop kicks off, a crisis is looming as both rice farmers and millers face crippling capital shortages and a promised industry lifeline has yet to materialise. Industry experts said yesterday that these small farmers desperate to pay their ...

Kali Kotoski and Cheng Sokhorng
http://www.phnompenhpost.com/business/no-sign-relief-rice-industry

EDC tells banks to stop outsourcing collections

State-run energy utility Electricité du Cambodge (EdC) has asked banks and microfinance institutions (MFIs) to stop using third-party services to collect payment of customer electricity fees, local media reported yesterday. ...

Post Staff
http://www.phnompenhpost.com/business/edc-tells-banks-stop-outsourcing-collections

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

MFIs tackle over-indebtedness

Clients of microfinance institutions (MFIs) in the Kingdom can now expect some form of protection from over-indebtedness that arises from their inability to meet their financial obligations on time as agreed in a credit agreement. ...

Sok Chan
http://www.khmertimeskh.com/news/27142/mfis-tackle-over-indebtedness/

MFIs moving swiftly on mobile banking

Microfinance institutions (MFIs) have been expanding their financial services to include the use of mobile phones, a move aimed at boosting services for people in rural areas who find it difficult or expensive to travel to offices in towns or villages. ...

Chea Vannak
http://www.khmertimeskh.com/news/22797/mfis-moving-swiftly-on-mobile-banking/

MFIs as one commercial bank

PhillipCapital, a Singapore-based integrated financial services provider and a majority stakeholder in three of Cambodia’s micro-finance institutions (MFIs), plans to consolidate the three into a commercial bank. ...

http://www.phnompenhpost.com/2012122560462/Business/mfis-as-one-commercial-bank.html

The Credit Bureau Cambodia at the five-month mark

Almost five months after the launch of the Credit Bureau Cambodia (CBC), experts agree that it has given financial institutions valuable new access to information about creditworthiness of potential borrowers, improving efficiency and loan quality. At the same time, there are still a few rough ...

Micro-Lender To Roll Out ATM Service

Hattha Kaksekar Limited, one of the country’s largest microfinance institutions (MFIs), is in talks to become a commercial bank by 2014, an official at the micro-lender said yesterday. The move, if successful, will be in line with the Central Bank’s policy to support MFIs in diversifying ...

Microfinance Firms Look to Retail Lending

While shopping for a brand-new television, 27-year-old Loek Bunhai recently bought a Sony flat-screen at the Sunsimexco retail outlet on Phnom Penh’s Monivong Boulevard for $345. But with a monthly salary of $300 from his job as a microfinance officer in Phnom Penh, Mr. Bunhai was ...

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