News

Government officials today shot down rumours that Cambodia would be issuing its own national cryptocurrency, despite international media coverage and a high-profile government official’s plan to attend an event organized by the company responsible for the claims. ...

Credit Bureau Cambodia (CBC) yesterday released its report for the fourth quarter of 2017, which showed significant growth in applications for credit, particularly in the credit card and mortgage sectors. ...

Officials in Cambodia and China’s Guangdong province are cooperating to establish trade using yuan instead of US dollars, part of the two countries’ increasingly close economic relationship. The suggestion to use yuan directly, instead of using US dollars as an intermediary currency, was made by ...

The Securities and Exchange Commission of Cambodia (SECC) yesterday warned the public against investing in cryptocurrencies such as Bitcoin, arguing that there is no regulation in place to manage the use of digital coins. ...

In 2017 the local financial sector continued the strong growth that has characterised the industry in recent times, with commercial banks and microfinance institutions (MFIs) seeing a robust expansion in loans and deposits throughout the year, according to the National Bank of Cambodia’s (NBC) annual ...

The central bank has issued new regulations governing the licensing of payment services providers (PSPs), requiring that all firms providing online services to accept electronic payments have at least $2 million in registered capital, a move expected to increase the stability of the sector and ...

The government yesterday unveiled its financial sector development strategy for 2016 to 2025, which provides stakeholders with a document to evaluate the last decade of growth while outlining an action plan for the next decade. Chea Serey, director-general of the NBC, said the content of ...

Total foreign direct investment receipts have remained consistent over the past five years, according to a new government report that incorporates central bank data. ...

The Ministry of Economy and Finance (MEF) is planning to form a joint committee chaired by government officials and microfinance institutions (MFIs) to promote small loan disbursements as the new 18 percent loan interest rate cap takes effect, according to an announcement released by the ...

Cambodia’s financial sector saw healthy growth last year with increased deposits and profits amid slower credit growth, reflecting sustainable development and increased public confidence in the sector, according to a recently released central bank report. ...

In an effort to boost the use of the riel, private companies have called on the National Bank of Cambodia (NBC) to ensure that all goods worth less than $100 are priced in riel. ...

Made by Cambodians for Cambodians, Wing (Cambodia) Limited Specialized Bank, the leading mobile banking services provider in Cambodia, is proud to join the National Bank of Cambodia (NBC) in promoting Khmer Riel usage among its customers across the country by establishing service charges, as well ...

The International Finance Corporation (IFC) launched a corporate governance initiative yesterday aimed at enhancing the efficiency of Cambodia’s private sector to strengthen the business climate and spur foreign investment and job creation, it said in a release. ...

The National Bank of Cambodia announced on Monday that it would set an annual interest rate ceiling of 18 percent for all microfinance institutions (MFIs), sparking concerns that lenders would stop offering smaller loans that often keep the most financially vulnerable afloat. ...

Two images on the back of the 500 riel banknote depict bridges, with the one on the left showing the Kingdom’s longest and most modern bridge, the Tsubasa (“Bird’s Wing”) Bridge linking Kandal and Prey Veng provinces. ...

Sathapana Bank has pre-emptively removed its signature golden lion logo from all 162 branches nationwide as the private bank aims to deflect government criticism and avoid confusion as being identified as a state-owned institution, a bank executive said yesterday. ...

Cambodia is handicapped by the dollarization of its economy in three ways, according to Kith Sovannarith, Deputy Director General of Banking Supervision at the National Bank of Cambodia. ...

ambodia’s 700,000 garment workers are among those most affected by exchange-rate costs. Their monthly salaries are paid in US dollars, but most of their daily transactions are in riels. Moreover, because they send – on average – about 30 percent of their salaries back to ...

In his office at the National Bank of Cambodia, Mr. Heng Bomakara recalls the early stages of the nation’s currency with fondness. He still remembers a time when coins were commonplace. First minted in aluminum and then later in steel, these coins are now a ...

Bred Banque Populaire – part of the second-largest banking group in France – officially launched operations in Cambodia yesterday after a ribbon-cutting ceremony at its headquarters, marking the first venture of a European bank in the Kingdom since the late 1990s. ...

In an effort to promote financial literacy to students in primary and secondary schools, the National Bank of Cambodia (NBC) and the Ministry of Education, Youth and Sport yesterday officially launched the “Let’s Talk Money” comic book.​ ...

Prime Minister Hun Sen yesterday ordered microfinance institute (MFI) Prasac, one of the largest in Cambodia, to change its logo immediately for fear that the public may confuse it as representing the government. ...

Private sector industry leaders speaking at an investment conference yesterday in the capital railed on the high cost of electrical power, which they said was sapping their competitiveness, while state officials offered assurances that state-backed power generation schemes would soon bring prices down. ...

The central bank’s efforts to foster development of an interbank lending market appears to be taking off as the demand for negotiable certificates of deposits (NCDs) increased sharply last year, with the financial tool seeing wider usage among the Kingdom’s financial institutions. ...