News
SMEs eye bourse for funds
Small and medium enterprises (SMEs) in Cambodia could start raising capital from the public, through the stock exchange, if government efforts to amend financial regulations to allow SMEs to be publicly listed get off the ground. ...
Chea Vannak
http://www.khmertimeskh.com/news/27409/smes-eye-bourse-for-funds/
Malaysian Insurance Institute signs agreement with Cambodia Insurance Ass’n.
The Malaysian Insurance Institute (MII) and the Insurance Association of Cambodia (IAC) have signed a Memorandum of Understanding (MoU) for “a bilateral collaboration to forge a beneficial business relationship to further enhance insurance knowledge and skills development for the insurance industry in Cambodia,” said a ...
Insurance Journal News Staff
http://www.insurancejournal.com/news/international/2014/03/03/321950.htm
China currency deals surge
As trade activity between Cambodia and China intensifies, banks are seeing an increase in deals transacted in yuan, the Chinese currency. Operating in Cambodia since 2010, Bank of China’s Phnom Penh Branch has been trying to promote business transactions in yuan, and has seen a significant ...
http://www.phnompenhpost.com/2013070866712/Business/china-currency-deals-surge.html
Malaysian bank eyes the affluent
A new Malaysian player in Cambodia’s expanding banking sector aims to capture the “emerging affluent” with its mobile and online services. Malaysian-based Hong Leong Bank will begin operating in Phnom Penh today, with a branch on Street 214. Joe Farrugia, CEO of Hong Leong Bank Cambodia, ...
http://www.phnompenhpost.com/2013070866710/Business/malaysian-bank-eyes-the-affluent.html
Informal lending still thriving
The expanding banking sector and the spread of microfinance institutions (MFIs) in rural areas have failed to elbow informal, unlicensed money lending out of the market, industry experts say. Fast and easy access to money – as well as the fear of “losing face” by borrowing ...
http://www.phnompenhpost.com/2013070266598/Business/informal-lending-still-thriving.html
Confidence at central bank
As volatility strikes Asian markets in anticipation of the US Federal Reserve winding down quantitative easing – the practice of injecting money into the economy – the National Bank of Cambodia says the Kingdom will remain largely insulated thanks to an investment market still in ...
http://www.phnompenhpost.com/2013062566455/Business/confidence-at-central-bank.html
Loans and deposits up 30%
Outstanding loans and deposits made at Cambodian banks grew by 32 per cent and 28 per cent respectively at the end of March this year from a year earlier, according to data from the National Bank of Cambodia (NBC). The data from the NBC that the ...
http://www.phnompenhpost.com/2013053065929/Business/loans-and-deposits-up-30.html
Local banks gain trust: survey
Nearly nine out of 10 Cambodians have confidence in local financial institutions, a trend that stands in sharp contrast to Europe and the US, a poll published last week found. However, industry insiders question the results, as the Kingdom’s financial services are still under-developed. The poll ...
http://www.phnompenhpost.com/2013052765847/Business/local-banks-gain-trust-survey.html
Cambodians Abroad Sent Home $256M Last Year
Cambodian migrant workers sent home $256 million last year, according to a report from a U.N. agency and the World Bank, which was released in Bangkok yesterday. The report from the bank and Rome-based International Fund for Agriculture Development (IFAD), titled Sending Money Home to Asia, ...
http://www.cambodiadaily.com/business/cambodians-abroad-sent-home-256m-last-year-25574/
Fears over new bank note
The new 100,000 riel banknote depicting the late King Father Norodom Sihanouk is not just a pretty historical token. It will also help inject much needed cash into the economy, according to the National Bank of Cambodia. Although take-up will occur as older banknotes of other ...
http://www.phnompenhpost.com/2013051465591/Business/fears-over-new-bank-note.html
Cambodia to issue new 100,000-riel banknote featuring royal family pictures
Cambodia will launch a new 100,000-riel banknote (in equivalent to 25 U.S. dollars) in order to celebrate the sixtieth birthday of King Norodom Sihamoni on May 14, a central bank official said Wednesday. A sub-decree on the issuance of the new 100,000-riel banknote was signed ...
http://news.xinhuanet.com/english/world/2013-05/08/c_132368449.htm
New MFI To Launch Operations
A new microfinance institution (MFI), ORO Financecorp Plc, is set to open in Cambodia, according to the director-general of the National Bank of Cambodia (NBC). Cambodia already has 35 registered MFIs, according to a recent report by the Cambodia Microfinance Association (CMA). Last week, the ...
http://www.phnompenhpost.com/2013050765436/Business/new-mfi-to-launch-operations.html
Government Mulls Issuing Sovereign Bonds
Cambodia is considering offering sovereign bonds to raise more revenue for the national budget and move away from its dependence on overseas aid, a senior central bank official said Sunday. National Bank of Cambodia director-general Nguon Sokha said the Ministry of Economy and Finance was currently ...
http://www.cambodiadaily.com/business/government-mulls-issuing-sovereign-bonds-21989/
Acleda seeks bidders for ATM drive
Cambodia’s largest commercial bank, Acleda, plans to install 30 automatic teller machines (ATMs) this year as the bank expects about a million new depositors during the coming year. Acleda president and chief executive In Channy told the Post yesterday additional ATMs would be installed in Phnom ...
http://www.phnompenhpost.com/2013030461728/Business/acleda-seeks-bidders-for-atm-drive.html
No plans for Islamic banking services yet
WHILE investments from the Middle East into Cambodia are expected to increase over the next few years, the central bank here currently has no plans to launch Islamic banking services. Recent events like Qatar Airway’s Doha-Phnom Penh flights, which launched earlier this month, have been expected ...
http://www.phnompenhpost.com/2013022761645/Business/no-plans-for-islamic-banking-services-yet.html
National Bank of Cambodia Reports Lending Surge in 2012
Lending by commercial banks in Cambodia grew by more than one-third last year, according to figures provided by the National Bank of Cambodia (NBC) yesterday. Banks lent out a total of $5.89 billion in 2012, compared with $4.39 billion in 2011, NBC figures show, meaning ...
http://www.cambodiadaily.com/business/national-bank-of-cambodia-reports-lending-surge-in-2012-11368/
US Dollar Drops Below 4,000 Riel With Agricultural Harvest
An increase in agricultural trading has caused the value of the US dollar to dip below 4,000 riel in the past three consecutive days, as there is now a higher demand for the Cambodian riel, money exchangers and an official from the National Bank of ...
Vietnamese military bank to open doors today
Vietnam’s Military Commercial Joint-Stock Bank (MB Bank) will open its doors in Phnom Penh today, becoming the fourth Vietnamese bank to set up operations here and bringing the total number of commercial banks in Cambodia to 31. Nguon Sokha, general director of the National Bank of ...
Two more banks setting up shop
The National Bank of Cambodia has issued a commercial banking licence to a Taiwanese bank, while another banking licence is pending approval for a Chinese-Cambodian joint venture, central bank Director General and Spokeswoman Ngoun Sokha said yesterday. The central bank had licensed Taiwan’s Mega International ...
http://www.phnompenhpost.com/index.php/2011083051333/Business/two-more-banks-setting-up-shop.html
Cambodia Decides to Keep Reserve Rate at 12 Per Cent
The National Bank of Cambodia (NBC) decided not to raise the reserve requirement rate for commercial banks from the current 12 per cent to 16 per cent although the country’s inflation has gradually increased, Nguon Sokha, NBC’s director general, said yesterday. “After the meeting of ...