National Bank of Cambodia | Open Development Cambodia (ODC) - Page 2

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    Follow NBC official exchange rate, taxpayers told

    The General Department of Tax (GDT) of the Ministry of Economy and Finance has asked tax payers to follow the official exchange rate issued by National Bank of Cambodia (NBC), in a move to strengthen tax collection efficiency. ...

    Khmer Times Staff
    https://www.khmertimeskh.com/501177006/follow-nbc-official-exchange-rate-taxpayers-told/

    Credit Bureau marks 10 years of service

    The Credit Bureau of Cambodia (CBC) is celebrating a decade of providing the invaluable service of credit reporting in Cambodia, creating a financial system when giving out loans. ...

    Prak Chan Thul
    https://kiripost.com/stories/credit-bureau-marks-10-years-of-service

    ACLEDA scoops award for aiding Cambodian SMEs

    ACLEDA Bank, one of Cambodia’s largest banks, today revealed it has been crowned the “Best Bank Partner for SMEs in EAP Award” by Washington DC-based International Finance Corporation (IFC), which is a member of the World Bank Group. ...

    Kiripost staff writers
    https://kiripost.com/stories/acleda-scoops-award-for-aiding-cambodian-smes

    Gov’t to issue bonds for second time to borrow $50M from investors

    The National Bank of Cambodia (NBC) will proceed with another auction process for the Ministry of Economy and Finance (MEF) to borrow about $50 million from investors for the second time of the government’s plan of issuance for a longer period of time of repayment ...

    Kang Sothear
    https://www.khmertimeskh.com/501154678/govt-to-issue-bonds-for-second-time-to-borrow-50m-from-investors/

    Central bank sells $130M over five September forex auctions

    The National Bank of Cambodia held five currency auctions from September 2-21 and sold $130 million on the foreign exchange (forex) market, meant to stabilise the riel’s fluctuations against the greenback, shore up economic activity during the ongoing health crisis and power a faster economic ...

    May Kunmakara
    https://www.phnompenhpost.com/business/central-bank-sells-130m-over-five-september-forex-auctions

    NBC unveils economic database

    The National Bank of Cambodia (NBC) has announced the launch of an online test of the Macroeconomic Surveillance Database System (MSDS) to monitor the macroeconomic and financial situation of the Kingdom and provide meaningful data for analysis, to be implemented with the technical assistance of ...

    Hin Pisei
    https://www.phnompenhpost.com/business/nbc-unveils-economic-database

    Ministry: SMEs vital to economy, but 95% not registered

    Small and Medium Enterprises (SMEs) are key factors in the Kingdom’s industrial sector growth, but around 95 per cent of Cambodia’s SMEs have not been properly registered, the Ministry of Industry and Handicraft said on Friday. ...

    Hin Pisei
    https://www.phnompenhpost.com/business/ministry-smes-vital-economy-95-not-registered

    Despite election uncertainty, exports achieve solid growth

    Exports of garment and footwear products achieved solid growth during the first half of the year, expanding by 9.3 percent. According to the Ministry of Commerce, exports from the country’s garment industry were valued at $3.7 billion during the first six months of the year. ...

    May Kunmakara
    https://www.khmertimeskh.com/50517748/despite-election-uncertainty-exports-achieve-solid-growth/

    MFIs watch rice loans

    The country’s financial institutions are closely monitoring loans that have been made to rice farmers, who say that this year’s fall in rice prices will affect their ability to make repayments, industry officials said yesterday. Last year, farmers were paid around 840 riel ($0.21) per kilogram ...

    May Kunmakara
    http://www.khmertimeskh.com/news/30035/mfis-watch-rice-loans/

    Cambodia, China sign new MoU on money laundering

    Cambodia and China last week signed an agreement to exchange financial intelligence to combat money laundering and terrorism financing, though experts said the Kingdom should still be doing more to tackle an issue that has long persisted in the country, in part, due to local ...

    Yesenia Amaro
    http://www.phnompenhpost.com/national/cambodia-china-sign-new-mou-money-laundering

    Control credit, says Moody's

    While Cambodia’s Moody’s rating is still at the same B2 level as last year, its economic growth has been downgraded two points from 2015, with the international credit rating agency warning that the Kingdom’s rapid pace of credit growth could pose financial stability risks. “The pace ...

    May Kunmakara
    http://www.khmertimeskh.com/news/28970/control-credit--says-moody-s/

    Anti-money laundering plan

    With the deadline for a second review by a global task force of the government’s efforts to combat money laundering and terrorism financing fast approaching, the Kingdom’s central bank yesterday conducted a workshop with banks, financial institutions and state agencies to flesh out a strategy ...

    Sok Chan
    http://www.khmertimeskh.com/news/28845/anti-money-laundering-plan/

    Central Bank projects 7.1% growth in 2H16

    The National Bank of Cambodia held a seminar on the state of the economy in the first half of the fiscal year on Saturday, forecasting 7.1 per cent GDP growth for the rest of the year. ...

    Post Staff
    http://www.phnompenhpost.com/business/central-bank-projects-71-growth-2h16

    Review finds economy resilient to challenges

    The National Bank of Cambodia released its annual report yesterday, citing strong growth in 2015 despite challenging economic circumstances caused by a Chinese economic slowdown, increased regional competitiveness and the appreciation of the US dollar. ...

    Matthieu de Gaudemar
    http://www.phnompenhpost.com/business/review-finds-economy-resilient-challenges

    Central bank allays dollar concerns

    The National Bank of Cambodia responded to rumours yesterday that local banks were no longer accepting US dollar banknotes with minor imperfections, such as small tears, creases or ink stamps, stating that the central bank had not changed its policies. ...

    Hor Kimsay
    http://www.phnompenhpost.com/business/central-bank-allays-dollar-concerns

    South korean bank eyes Cambodia

    The South Korea-based Nong Hyup Bank plans to open a branch in the Kingdom and will focus on investments and loans in the agriculture sector, according to a senior official in the Ministry of Agriculture. ...

    May Kunmakara
    http://www.khmertimeskh.com/news/25465/south-korean-bank-eyes-cambodia/

    Current account deficit rises to $542M in 4Q15

    Cambodia’s current account balance deficit was the equivalent of $542 million in the fourth quarter of 2015, the equivalent of 11.5 per cent of GDP, the National Bank of Cambodia said in a report released yesterday.   ...

    Post Staff
    http://www.phnompenhpost.com/business/current-account-deficit-rises-542m-4q15

    National Bank of Cambodia for Kampot provincial branch inaugurated

    A newly-constructed two-storey building of Kampot provincial branch of the National Bank of Cambodia inaugurated this morning to welcome clients. ...

    The Cambodia Herald News Staff
    http://thecambodiaherald.com/cambodia/national-bank-of-cambodia-for-kampot-provincial-branch-inaugurated-9083

    NBC: Cambodia’s economy to grow by 6.9% in 2015

    The projection of National Bank of Cambodia (NBC) on the country’s economic growth this year is slightly lower than that of the Asian Development Bank (ADB), according to the State News Agency-AKP.   ...

    The Cambodia Herald News Staff
    http://thecambodiaherald.com/cambodia/nbc:-cambodia%E2%80%99s-economy-to-grow-by-69-in-2015-9001

    Stalled interbank market clogging up liquidity

    At least $1 billion in surplus liquidity is sitting idle in Cambodia’s banking system and could be unlocked if the central bank implemented a more effective interbank lending mechanism, experts say. ...

    Cam McGrath
    http://www.khmertimeskh.com/news/12776/stalled-interbank-market-clogging-up-liquidity/

    Central bank seeks to promote Riel use

    Cambodia’s central bank is seeking to promote the use of the riel and wean the Kingdom’s economy off its dependence on the US dollar, a senior banking official said on Tuesday. Speaking at a luncheon organized by the British Chamber of Commerce in Cambodia (BritCham), Chea ...

    Cam McGrath
    http://www.khmertimeskh.com/news/12117/central-bank-seeks-to-promote-riel-use/

    Banks raise concerns for a new derivative trading law

    The Association of Banks in Cambodia has called on the Securities and Exchange Commission to ensure that over-the-counter derivatives transacted by banks do not fall under the governance of the new draft prakas governing derivatives trading on Cambodia’s stock exchange. Speaking at a workshop in Phnom ...

    Hor Kimsay
    http://www.phnompenhpost.com/business/banks-raise-concerns-new-derivative-trading-law

    Outstanding credit could reach $30B by 2020

    The total amount of loans in Cambodia’s banking sector could rise to $30 billion by 2020, according to a report released today by Mekong Strategic Partners, a new investment and advisory fund. Amid such growth, banks will be challenged to drastically expand their operations and will ...

    George Styllis and Kang Sothear
    http://www.cambodiadaily.com/business/outstanding-credit-could-reach-30b-by-2020-69127/

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