News

MoC, NBC push for riel price tags

The Ministry of Commerce and the National Bank of Cambodia (NBC) recently held a high-level meeting to discuss strategies to encourage the use of Khmer Riel and decided to promote price tag labelling in national currency as an important step. ...

Chea Vanyuth
https://www.khmertimeskh.com/501495175/moc-nbc-push-for-riel-price-tags/

Cambodia charts 1.8b digital payments, valued at $492b in 2023

Some 1.8 billion Khmer riel and US dollar digital transactions valued at $492 billion were recorded in 2023, which rose over 600 million from 1.1 billion transactions in 2022, the National Bank of Cambodia (NBC) said on March 29. This significant increase, an economist opined, ...

Meas Molika
https://kiripost.com/stories/cambodia-charts-18b-digital-payments-valued-at-492b-in-2023

NBC reports 44% surge in electronic riel transactions

National Bank of Cambodia (NBC) governor Chea Serey announced an increase in electronic transactions and payments in Cambodian riel for 2023, noting that they were 44% higher than in 2022. ...

Van Socheata
https://www.phnompenhpost.com/national/nbc-reports-44-surge-in-electronic-riel-transactions

Businesses urged to prioritise riel for salary payments

 The Governor of the National Bank of Cambodia (NBC), Chea Serey, is encouraging companies and enterprise owners to offer salaries in riel, as the majority of Cambodian workers are paid in dollars. ...

Mao Sreypich
https://kiripost.com/stories/businesses-urged-to-prioritise-riel-for-salary-payments

Deal inked to introduce financial literacy to curriculum

The National Bank of Cambodia (NBC) and Ministry of Education have signed a Memorandum of Understanding (MoU) to include the third phase of Embedding Financial Literacy into the school curriculum to raise awareness and improve student capability in financial management as the economy evolves. ...

Mao Sreypich
https://kiripost.com/stories/deal-inked-to-introduce-financial-literacy-to-curriculum

‘Fintech playing key role in financial inclusion efforts’

The fintech sector is playing a major role in the financial inclusion efforts pioneered by the National Bank of Cambodia (NBC), Governor Dr Chea Serey said while delivering the keynote address at the CamTech Summit 2023 yesterday at the Centre for Banking Studies. ...

Sreekanth Ravindran
https://www.khmertimeskh.com/501399932/fintech-playing-key-role-in-financial-inclusion-efforts/

Credit growth too high, especially in real estate sectors

In July, the National Bank of Cambodia (NBC) flagged the “historically” high credit-to-gross domestic product (GDP) ratio, which stood at 189 percent in 2022, with credit-to-GDP gap reaching nearly 40 percent. ...

Sangeetha Amarthalingam
https://kiripost.com/stories/cambodia-credit-growth-too-high-especially-in-real-estate-sectors

Cross-border payment services to be expanded

The National Bank of Cambodia (NBC) plans to expand its cross-border payment and transfer connections to China, Singapore and India this year. ...

Van Socheata
https://www.phnompenhpost.com/business/cross-border-payment-services-be-expanded

NBC to intervene in foreign exchange market

The National Bank of Cambodia (NBC) will intervene in the currencies market in response to slower demand for riel and appreciation of the US dollar in the international foreign exchange market, an NBC release said. ...

Kang Sothear
https://www.khmertimeskh.com/501351238/nbc-to-intervene-in-foreign-exchange-market/

IMF, ECB, global banks laud Chea Serey as NBC chief

A multitude of international financial institutions and central banks have congratulated and expressed confidence over Chea Serey’s appointment as governor of the National Bank of Cambodia (NBC), acknowledging her expertise and qualification to develop the Kingdom’s banking sector. ...

May Kunmakara
https://www.phnompenhpost.com/business/imf-ecb-global-banks-laud-chea-serey-nbc-chief

Cambodia, Laos launch KHQR-LAOQR cross-border payments

The National Bank of Cambodia (NBC) and Bank of the Lao PDR (BOL) on Friday launched the cross-border payment via QR Code in Laos in the first phase, said a statement. ...

Kang Sothear
https://www.khmertimeskh.com/501345965/cambodia-laos-launch-khqr-laoqr-cross-border-payments/

Cambodia’s electrical exports rise to $1.4 billion in 1H

Cambodia exported $1.4 billion worth of electrical equipment and electronic components in the first half of 2023, a 1.3-fold increase year-on-year, according to the National Bank of Cambodia’s report. ...

Chea Vanyuth
https://www.khmertimeskh.com/501335905/cambodias-electrical-exports-rise-to-1-4-billion-in-1h/

KHQR records 400K transactions in one year

In one year since its official rollout in 2022 by the National Bank of Cambodia, KHQR, the universal quick response (QR) platform of the country for digital payments, has recorded nearly 400,000 transactions. ...

Manoj Mathew
https://www.khmertimeskh.com/501336016/khqr-records-400k-transactions-in-one-year/

Cambodia sees significant increase in digital payments with e -wallets exceeding 20.2 million

Cambodia has recorded a sharp rise in mobile payments as more and more people have turned from cash-based to digital transaction options, the National Bank of Cambodia (NBC) said. ...

Khmer Times Staff
https://www.khmertimeskh.com/501336216/cambodia-sees-significant-increase-in-digital-payments-with-e-wallets-exceeding-20-2-million/

Cambodia’s central bank says foreign reserves increased to $18.4 billion as of June

Cambodia’s international reserves had risen to $18.4 billion as of June 2023, up 3.2 percent from $17.82 billion at the end of 2022, said a report of the National Bank of Cambodia (NBC) on Monday. ...

Khmer Times Staff
https://www.khmertimeskh.com/501334799/cambodias-central-bank-says-foreign-reserves-increased-to-18-4-billion-as-of-june/

Cambodia’s banking, financial industry stays healthy in H1, with outstanding loans rising to $58.6 billion

FacebookTwitterEmailShareCambodia’s banking and financial industry continued to enjoy healthy growth in both loans and deposits in the first half of 2023, said the biannual report of the National Bank of Cambodia (NBC) released on Monday.​​ ...

Khmer Times Staff
https://www.khmertimeskh.com/501334791/cambodias-banking-financial-industry-stays-healthy-in-h1-with-outstanding-loans-rising-to-58-6-billion/

NBC: ‘Robust’ lenders to remain key growth drivers

The banking system has demonstrated its robustness through high levels of liquidity and capital, and will remain sound and resilient while playing a crucial role in supporting economic activities, despite recent global turbulence, according to the National Bank of Cambodia (NBC). ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-robust-lenders-remain-key-growth-drivers

Chea Serey promoted to central bank governor

Chea Serey has been formally appointed as governor of the National Bank of Cambodia (NBC) on the heels of her promotion from central banking director-general to deputy governor in March. ...

May Kunmakara
https://www.phnompenhpost.com/business/chea-serey-promoted-central-bank-governor

Serey: Central bank’s MoU with UnionPay not yuan agreement

National Bank of Cambodia deputy governor Chea Serey clarified on July 16 that a recent memorandum of understanding with China’s UnionPay was not an agreement to legalise the Chinese yuan in the Kingdom or the Cambodian riel in China. Rather, it permits mobile payments using ...

Sok Raksa
https://www.phnompenhpost.com/business/serey-central-banks-mou-unionpay-not-yuan-agreement

Central bank poised to auction off 90B riel on July 25

The National Bank of Cambodia (NBC) is set to hold its 134th liquidity-provided collateralised operation (LPCO) on July 25, making 90 billion riel ($22 million) available to local financial institutions in need of liquidity, through an auction to buy US dollars. ...

May Kunmakara
https://www.phnompenhpost.com/business/central-bank-poised-auction-90b-riel-july-25

NBC navigating China’s cross-border interbank payment system: Serey

Cambodia’s journey towards becoming a member of the Chinese central bank’s Cross-Border Interbank Payment System (CIPS) will require more time due to the “stringent conditions” put forth by the central bank, according to National Bank of Cambodia (NBC) deputy governor Chea Serey. ...

Van Socheata
https://www.phnompenhpost.com/business/nbc-navigating-chinas-cross-border-interbank-payment-system-serey

Financiers taking national ID cards as collateral to face action

Cambodia’s Ministry of Interior has issued a warning against the use of national identity cards as collateral for loans as it violates the guidelines of the National Bank of Cambodia (NBC). ...

Nhean Chamrong
https://www.khmertimeskh.com/501321287/financiers-taking-national-id-cards-as-collateral-to-face-action/

Cambodia’s electronic payment amount among highest in world

The amount of payments made via electronic system in Cambodia reached nearly 1,000 percent of the country’s Gross Domestic Product (GDP) in 2022, said a senior official of National Bank of Cambodia (NBC). ...

Kang Sothear
https://www.khmertimeskh.com/501319532/cambodias-electronic-payment-amount-among-highest-in-world/

Spirits high after NBC’s prakas on capital rules

The National Bank of Cambodia’s (NBC) recent two-pronged prakas on capital buffers and the capital adequacy ratio (CAR) of banking and other deposit-taking institutions, which aims to provide a clearer classification system for assets, is poised to strengthen the industry and enhance risk resilience, local ...

May Kunmakara |
https://www.phnompenhpost.com/business/spirits-high-after-nbcs-prakas-capital-rules

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