News

NGOs invited to discuss MFI report

Officials of NGOs Licadho and Sahmakum Teang Tnaut will attend a closed-door meeting at the Council of Ministers on Wednesday to explain the findings of their recent report claiming that increasing levels of debt at microfinance institutions (MFIs) has resulted in human rights violations. ...

Khorn Savi
https://www.phnompenhpost.com/national/ngos-invited-discuss-mfi-report

National Bank to begin LPCO

The National Bank of Cambodia (NBC) will unveil its initial rates that banks and microfinance institutions (MFIs) will be able to use, as the NBC begins its liquidity-providing collateralized operation (LPCO) to boost the country’s riel liquidity, according to a senior bank official. ...

Sok Chan
http://www.khmertimeskh.com/news/30852/national-bank-to-begin-lpco/

Accounting and finance top job listings

Cambodia’s accounting and finance industries have seen the healthiest growth over the past three months, followed by jobs in sales, hospitality, management and marketing, according to the latest report by jobs website Everjob. More than 2,500 positions in the accounting and finance sectors were listed on ...

Sum Manet
http://www.khmertimeskh.com/news/30601/accounting-and-finance-top-job-listings/

Micro-insurance access urged

Cambodia’s finance sector should increase insurance accessibility to its smallest lenders to help protect against indebtedness at times of disaster, an industry expert said at a conference in Phnom Penh yesterday. Speaking at the Hotel Cambodiana to an audience of industry representatives on rural entrepreneurship, Jaime ...

Hor Kimsay and Daniel de Carteret
http://www.phnompenhpost.com/business/micro-insurance-access-urged

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 ...

http://www.phnompenhpost.com/business/mfi-loans-deposits-continue-increase

Japanese Mizuho Bank looks into Cambodian financial sector

Mizuho Bank, one of Japan’s largest banks, opened a representative office here Monday thanks to increasing interest in Cambodia by Japanese investors, a bank official said. To date, Cambodia has five foreign banks’ representative offices, 34 commercial banks, seven specialized banks and 37 microfinance institutions, ...

http://news.xinhuanet.com/english/world/2013-07/08/c_132522621.htm

Largest MFI Prasac gets loan boost for coffers

Cambodia’s largest microfinance institution, (MFI) Prasac, has received a $60.5 million loan to strengthen its capacity in offering broader financial services in the country. On Friday, Prasac signed the agreement for the syndicate loan – provided by more than one lender – with the Netherlands Development ...

http://www.phnompenhpost.com/2013070166577/Business/largest-mfi-prasac-gets-loan-boost-for-coffers.html

Micro-life insurance on rise

When 46-year-old Than Thol got a $900 loan from Samic Microfinance last year, he took advantage of a little-known and  lengthily worded insurance program called Measure for Economic and Accelerated Development for All, or MEADA. MEADA provides coverage for families of mostly lower-income borrowers in the ...

http://www.phnompenhpost.com/2013060466033/Business/micro-life-insurance-on-rise.html

Cambodians Abroad Sent Home $256M Last Year

Cambodian migrant workers sent home $256 million last year, according to a report from a U.N. agency and the World Bank, which was released in Bangkok yesterday. The report from the bank and Rome-based International Fund for Agriculture Development (IFAD), titled Sending Money Home to Asia, ...

http://www.cambodiadaily.com/business/cambodians-abroad-sent-home-256m-last-year-25574/

Mobile Banking Services On A Rise

F1soft Company, a software service provider that makes banking transactions available via phone, had commenced operations in Cambodia, company officials said yesterday during a workshop. Sean Thorninn, a lecturer in economics at the Limkokwing University and expert in Cambodia’s landscape of microfinance institutions (MFI), told ...

http://www.phnompenhpost.com/2013050765437/Business/mobile-banking-services-on-a-rise.html

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 ...

http://www.asean-china-center.org/english/2013-05/03/c_132357476.htm

MFI Increases Loans as Economy Grows

As rising economic growth spurred demand for personal loans, Prasac, Cambodia’s biggest microfinance institution (MFI), provided $106 million in loans between March, 2012 and March, 2013, an increase of 66 per cent compared with the corresponding period a year earlier.  “Loans [were] mainly used for service ...

http://www.phnompenhpost.com/2013041965111/Business/mfi-increases-loans-as-economy-grows.html

Cambodia’s Economic Growth Will Help Poverty Reduction

Cambodia economic growth was 7.3 percent in 2012. Agriculture grew by 4.3 percent, crops by 4.9 percent, fisheries by 6.7 percent, industry by 9.2 percent, garment [sector] by 6.9 percent and the service industry by 8.1 percent, said Dr Hang Chuon Naron, Secretary of State ...

http://thesoutheastasiaweekly.com/

Acleda seeks bidders for ATM drive

Cambodia’s largest commercial bank, Acleda, plans to install 30 automatic teller machines (ATMs) this year as the bank expects about a million new depositors during the coming year. Acleda president and chief executive In Channy told the Post yesterday additional ATMs would be installed in Phnom ...

http://www.phnompenhpost.com/2013030461728/Business/acleda-seeks-bidders-for-atm-drive.html

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 ...

http://www.phnompenhpost.com/2013020461166/Business/loans-and-deposits-climb.html

Microfinance institution Sathapana increases maximum loan limit

Microfinance institution Sathapana has increased its maximum loan size to US$200,000, a 300 per cent increase from the previous level of $50,000. The upgrade in loan size is a result of Cambodia’s good economic climate and the expectation that there will be demand among customers for ...

http://www.phnompenhpost.com/index.php/2012112359894/Business/microfinance-institution-sathapana-increases-maximum-loan-limit.html

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