News

Bakong likely to make forays into Rwanda

National Bank of Cambodia (NBC) and the National Bank of Rwanda recently held talks to explore ways to establish Bakong online payment system in that country, said an NBC statement. ...

Sreekanth Ravindran
https://www.khmertimeskh.com/501315349/bakong-likely-to-make-forays-into-rwanda/

Cambodia, Thailand launch cross-border QR payment phase II

Cambodia and Thailand launched the second phase of their cross-border QR payment system, which aims to promote the use of local currencies, financial inclusion and cross-border trade and tourism. ...

Chea Vanyuth
https://www.khmertimeskh.com/501303481/cambodia-thailand-launch-cross-border-qr-payment-phase-ii/

Financial experts promote digital literacy

The Association of Banks in Cambodia (ABC) and Expert Leadership Innovation Exchange Organization (ELIX) are joining hands to promote digital literacy and capacity building, in support of the government’s policies on the Fourth Industrial Resolution (Industry 4.0) as well as the “Cambodia Digital Economy and ...

May Kunmakara
https://www.phnompenhpost.com/business/financial-experts-promote-digital-literacy

E-wallet payments nine times GDP: NBC

E-payment trends in Cambodia have significantly consolidated in recent years as more and more people transition from cash-based to digital transaction options, the National Bank of Cambodia (NBC) reaffirmed in a recent report. ...

May Kunmakara
https://www.phnompenhpost.com/business/e-wallet-payments-nine-times-gdp-nbc

Cambodia’s financial sector still ‘strong’: Belgium’s Incofin

The Cambodian banking sector remains strong and not at significant risk of collapse, despite the occasional incidence of foreign investors pulling back after being spooked by “negative” news stories, according to Belgium-based global impact fund Incofin Investment Management Comm VA. ...

Rann Reuy
https://www.phnompenhpost.com/business/cambodias-financial-sector-still-strong-belgiums-incofin

Losing 104 rural credit agencies ‘may allow growth’ in finance sector

The central bank’s recent revocation of the operating licences of 104 rural credit institutions (RCI) – nearly half – should not have significant ramifications on the Kingdom’s wider financial system, industry insiders and observers have assured. ...

Rann Reuy
https://www.phnompenhpost.com/national/losing-104-rural-credit-agencies-may-allow-growth-finance-sector

NBC warns of scammers in disguise

The National Bank of Cambodia (NBC) has appealed to the public to exercise increased caution before transferring money to anyone in order to avoid cyber-scams. ...

Chea Sokny
https://www.phnompenhpost.com/national/nbc-warns-scammers-disguise

NBC pushes for de-dollarisation on 43rd Riel Day

National Bank of Cambodia (NBC) deputy governor Chea Serey on March 20 made a general call to keep using the local currency in day-to-day transactions, as part of de-dollarisation and other monetary policy initiatives, as a means to promote economic development. ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-pushes-de-dollarisation-43rd-riel-day

Project aims to strengthen safe finance in communities

The National Bank of Cambodia (NBC) and Cambodia Microfinance Association (CMA) have rolled out a pilot campaign to promote financial literature, consumer empowerment and protection in Cambodian communities. ...

Marissa Carruthers
https://kiripost.com/stories/cambodia-project-aims-to-strengthen-safe-finance-in-communities

MFIs seek boosting financial literacy at communal level

A project to strengthen financial literacy at the local level has been launched to promote knowledge related to finance, rights, and client protection as well as to increase clients’ access to formal financial services within communities. ...

Ou Sokmean
https://cambodianess.com/article/mfis-seek-boosting-financial-literacy-at-communal-level

NBC, Bank of China discuss cross-border payment

National Bank of Cambodia (NBC) and Bank of China on Wednesday discussed means to expand the cross-border payment between the two countries as well as develop transactions in other member states of the Association of Southeast Asian Nations (ASEAN), said a release. ...

Kang Sothear
https://www.khmertimeskh.com/501244403/nbc-bank-of-china-discuss-cross-border-payment/

Cambodia, Vietnam strengthen banking cooperation

The National Bank of Cambodia (NBC) and the State Bank of Vietnam (SBV) have agreed to strengthen bilateral cooperation through exchange of experience on economy and banking system. ...

Khmer Times Staff
https://www.khmertimeskh.com/501207675/cambodia-vietnam-strengthen-banking-cooperation/

NBC organises macroeconomic conference to boost Cambodia’s economic development

The National Bank of Cambodia (NBC), in collaboration with the United Nations Development Programme (Cambodia) organised on Thursday the 9th NBC Annual Macroeconomic Conference, giving floor for discussion for the development of Cambodian economy. ...

Khmer Times Staff
https://www.khmertimeskh.com/501191238/nbc-organises-macroeconomic-conference-to-boost-cambodias-economic-development/

Key lenders agree to ease loan terms for flood victims

Members of Cambodia’s apex bodies of the banking and microfinance industries have agreed to ease restrictions on loan repayments, reduce interest rates, as well as restructure loans for customers deemed to be significantly affected by the heavy rains and floods that have swept the Kingdom ...

May Kunmakara
https://www.phnompenhpost.com/business/key-lenders-agree-ease-loan-terms-flood-victims

NBC asks financial institutions to be flexible with flood affected borrowers

The National Bank of Cambodia has asked financial institutions to implement flexible measures for borrowers who have been affected by flood, in a bid to ease the burden on financial flow and contribute to restoring families’ economic standards. ...

Chea Vanyuth
https://www.khmertimeskh.com/501170557/nbc-asks-financial-institutions-to-be-flexible-with-flood-affected-borrowers/

Inflation nears 8 percent, riel depreciates, trade deficit narrows in June

Cambodia’s inflation has risen to 7.85 percent in June 2022 compared on a year-on-year basis to 7.17 percent the previous month, which was the highest in the last decade, while the value of Riel has fallen 0.07 percent to 4,091 riel per US dollar and ...

Kang Sothear
https://www.khmertimeskh.com/501166675/inflation-nears-8-percent-riel-depreciates-trade-deficit-narrows-in-june/

CBC keeps credit data of over 7M customers

Independent financial information provider Credit Bureau (Cambodia) Co Ltd (CBC) now maintains the credit data of more than seven million customers in its core system, 10 years after its establishment, according to its chairwoman Chea Serey.​ ...

May Kunmakara
https://www.phnompenhpost.com/business/cbc-keeps-credit-data-over-7m-customers

E-payments to save MSMEs on costs: NBC

Digitising payments could bring substantial cost savings for micro-, small-, and medium-sized enterprises (MSME), not only by simplifying cash management processes but also reducing potential opportunities for misappropriation or corruption, according to the central bank chief. ...

May Kunmakara
https://www.phnompenhpost.com/business/e-payments-save-msmes-costs-nbc

$300M maiden sovereign-bond issue set to begin on Sept 7: NBC

The National Bank of Cambodia (NBC) announced that it will float the 100 billion riel ($25 million) first tranche of its 1.2195 trillion riel maiden sovereign-bond issue on September 7, which financial experts point out will allow the government to diversify funding sources for national ...

May Kunmakara
https://www.phnompenhpost.com/business/300m-maiden-sover-eign-bond-issue-set-begin-sept-7-nbc

Rising Riel in circulation earns demand in public

The prudential monetary policies and Riel promotion have built price stability of Riel, which earned public trust over the circulation of the national currency, said a senior official at the National Bank of Cambodia. ...

Chea Vanyuth
https://www.khmertimeskh.com/501140924/rising-riel-in-circulation-earns-demand-in-public/

NBC to take legal action against illegal lenders

The National Bank of Cambodia (NBC) along with other competent authorities are considering taking legal action against firms or individuals operating businesses that go against the banking laws and financial institutions of the Kingdom, NBC announced yesterday. ...

Kang Sothear
https://www.khmertimeskh.com/501140412/nbc-to-take-legal-action-against-illegal-lenders/

NBC sees Cambodia’s GDP growth at 5.3% in 2022

Global growth recovery and rapid resumption in economic activity will give impetus to Cambodia’s economic growth this year, according to the National Bank of Cambodia (NBC). ...

Chea Vanyuth
https://www.khmertimeskh.com/501123527/nbc-sees-cambodias-gdp-growth-at-5-3-in-2022/

‘Best New Banknote’ award for 15,000 riel bill delivered to NBC chief

The National Bank of Cambodia (NBC) has finally been delivered the 2019 “Best New Banknote” award received for its 15,000 riel banknote by representatives from the printing company Landqart AG after a long wait due to pandemic-induced border restrictions.   ...

Ry Sochan
https://www.phnompenhpost.com/national/best-new-banknote-award-15000-riel-bill-delivered-nbc-chief

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