News

Cambodia earns $2 bn from its casino annually

Cambodia’s casino industry has generated a revenue of approximately $2 billion per annum, the country’s central bank chief said here on Wednesday. ...

Business Standard News Staff
http://www.business-standard.com/article/news-ians/cambodia-earns-2-bn-from-its-casinos-annually-115093000332_1.html

Cambodia aims to reduce Dollarization

Cambodia has designed strategies to give the Riel  a boost  to reduce dollarization, which represents about 80 percent of currencies circulated in the country, the Central Bank’s senior officials said Tuesday.   ...

Xinhua team
http://www.khmertimeskh.com/news/16274/cambodia-aims-to-reduce-dollarization/

Central bank urges Riel spending

Cambodia’s central bank yesterday again raised the issue of the country’s highly dollarised economy, suggesting that government policies and action plans will be enforced over the long term to promote the use of the riel, giving the National Bank of Cambodia (NBC) more monetary control.Speaking ...

Sor Chandara
http://www.phnompenhpost.com/business/central-bank-urges-riel-spending

Cambodia aims to reduce dollarization

Cambodia has designed strategies to give riel (local currency) a boost so as to reduce dollarization, which represents about 80 percent of the currencies circulated in the country, the Central Bank’s senior officials said Tuesday. ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/2015-09/29/c_134672213.htm

Gov’t eyes data gaps to ensure stable foundation for construction industry

A survey of foreign direct investment by the National Bank of Cambodia due to be completed at the end of this month will help fill data gaps in the construction industry and could lead to new regulations in the property market that will pave the ...

Tim Vutha
http://www.khmertimeskh.com/news/15853/gov---t-eyes-data-gaps-to-ensure-stable-foundation-for-construction-industry/

Cambodia still near bottom of laundering index

Cambodia is still among the 10 most at-risk countries in the world for money laundering and terrorist financing, despite being one of two countries that saw the greatest improvements, according to an annual global index released Tuesday. ...

Chris Mueller and Aun Chhengpor
https://www.cambodiadaily.com/news/cambodia-still-near-bottom-of-laundering-index-92093/

Cambodia still near bottom of laundering index

Cambodia is still among the 10 most at-risk countries in the world for money laundering and terrorist financing, despite being one of two countries that saw the greatest improvements, according to an annual global index released Tuesday. ...

Chris Mueller and Aun Chhengpor
https://www.cambodiadaily.com/news/cambodia-still-near-bottom-of-laundering-index-92093/

Loan growth risks up for debate

Bank deposits and loans during the first half of this year grew significantly as compared with the same period in 2014, with loans alone increasing over 30 per cent, drawing mixed reactions from industry insiders on the risks of this rapid credit growth. ...

Ananth Baliga
http://www.phnompenhpost.com/business/loan-growth-risks-debate

Commercial bank lending, deposits rising

Cambodia’s commercial banks lent $11.9 billion to customers in the first half of this year, a 33 percent increase from the amount lent during the same time last year, according to a National Bank of Cambodia (NBC) report released Tuesday. ...

Un Raksmey and Igor Kossov
http://www.khmertimeskh.com/news/14087/commercial-bank-lending--deposits-rising/

Credit bureau brings rural lenders into the fold

Five rural credit operators signed an agreement to join the Credit Bureau Cambodia on Thursday as the watchdog and the National Bank of Cambodia ramp up efforts to better monitor the country’s expansive, but largely informal, rural lending industry. ...

Kang Sothear and Tsz-kwan Ho
https://www.cambodiadaily.com/business/credit-bureau-brings-rural-lenders-into-the-fold-90227/

Warning for illegal MFIs

The governor of the National Bank of Cambodia hit out at unlicensed microfinance institutions or lenders, who he said were the reason why interest rates in the sector were high, despite interest rates falling among registered lenders. ...

May Kunmakara
http://www.phnompenhpost.com/business/warning-illegal-mfis

NBC, JFSA to extend supervisory support

The National Bank of Cambodia and the Japan Financial Service Agency agreed yesterday to extend their cooperation on sharing experience and expertise in the areas of banking and financial sector supervision in the Kingdom. ...

May Kunmakara
http://www.phnompenhpost.com/business/nbc-jfsa-extend-supervisory-support

FDI survey may lead to new property regulations

Cambodia’s property sector continues to grow, offering both opportunities and challenges for both foreign and local investors. Meanwhile, ahead of the ASEAN Integration, a wider access to transparent information about the FDI fuelling the sector could lead to the adoption of stronger regulatory principles and ...

Kali Kotoski and Sum Manet
http://www.phnompenhpost.com/real-estate/fdi-survey-may-lead-new-property-regulations

Advans SA increases holdings in local MFI

Luxembourg-based Advans SA Group and two other foreign investors have increased their share holdings in local microfinance institution Amret, giving Advans a controlling stake in the company. Claude Falgon, executive director of Advans SA SICAR, said that since the first stake acquisition, the business had acquired ...

May Kunmakara
http://www.phnompenhpost.com/advans-sa-increases-holdings-local-mfi

Unofficial lenders flock to the NBC seeking to be registered

More than 100 unofficial lenders have flooded into the National Bank of Cambodia seeking formal registration after the authorities announced a crackdown earlier this month on unrecognised operators. In a joint declaration from the Ministry of Economy and Finance and the NBC on February 2, officials ...

Chan Muyhong
http://www.phnompenhpost.com/unofficial-lenders-flock-nbc-seeking-be-registered

Unofficial lenders flock to the NBC seeking to be registered

More than 100 unofficial lenders have flooded into the National Bank of Cambodia seeking formal registration after the authorities announced a crackdown earlier this month on unrecognised operators. In a joint declaration from the Ministry of Economy and Finance and the NBC on February 2, officials ...

Chan Muyhong
http://www.phnompenhpost.com/unofficial-lenders-flock-nbc-seeking-be-registered

Cambodia launches code of banking practices

The National Bank of Cambodia ( NBC), which is the regulator of the banking and finance industry, promulgated the Code of Banking Practices on Monday with an aim of further building confidence of the public in the industry, officials said. The sector had received a ...

Shanghai Daily News Staff
http://shanghaidaily.com/article/article_xinhua.aspx?id=268881

SME policy needed by AEC

Public and private sector representatives have urged the Cambodian government to fast-track policies to foster a more “formalised”, compliant and productive small- to medium-size enterprise (SME) sector. Chea Serey, director general at the National Bank of Cambodia said the high cost of regulatory compliance, a ...

Eddie Morton
http://www.phnompenhpost.com/sme-policy-needed-aec

Credit up 30 per cent in 2014

Both deposits and loans in Cambodia’s banking sector increased about 30 per cent last year, a rise that industry insiders say is a productivity boost for the Kingdom’s economy. By the end of December, deposits at all Cambodian banks reached $10 billion, a 32 per cent ...

Hor Kimsay
http://www.phnompenhpost.com/credit-30-cent-2014

Bank sector at risk: S&P

The National Bank of Cambodia (NBC) lacks the resources to enforce regulatory standards and bail out underperforming banks during times of need, credit ratings agency Standard & Poor’s says. Cambodia’s banking sector was labelled high-risk, with a score of nine out of 10 on S&P’s2014 Banking ...

Eddie Morton
http://www.phnompenhpost.com/business/bank-sector-risk-sp

Unlicensed lenders called out

Officials have released a public statement warning against a rise in unlicensed lenders they say are dangerously operating outside of Cambodian regulations and threatening financial stability. In a joint declaration from the Ministry of Economy and Finance and the National Bank of Cambodia on Monday, authorities ...

Hor Kimsay
http://www.phnompenhpost.com/business/unlicensed-lenders-called-out

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