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In a significant move, the National Bank of Cambodia (NBC) issued a Prakas (directive) on Friday to regulate cryptoasset-related activities within the country’s financial system. This marks a major milestone in Cambodia’s journey toward adopting digital finance while ensuring regulatory oversight and financial stability. The directive, based on the Law on Banking and Financial Institutions,…
The National Bank of Cambodia (NBC) has called on stakeholders, particularly the public, to adopt the Cambodian Riel (KHR) more widely to enhance macroeconomic policy management and support sustainable economic development. Speaking at a program promoting the Riel, Bakong System, and KHQR System in Banteay Meanchey Province, NBC Deputy Governor Yim Leat highlighted the growing…
In a notable demonstration of its sustained leadership and innovative prowess in the financial sector, Canadia Bank has accrued significant recognition at the esteemed International Finance Awards (IFA) 2024. The bank, which has been a prominent figure in Cambodia’s financial market for over 30 years, proudly accepted honors as the Best Commercial Bank in Cambodia…
In the realm of international affairs and global economic development, one of the chief indicators of a nation’s active participation in seeking progress is its interactions with leading world organizations. Cambodian Prime Minister Hun Manet’s recent meeting with Manuela V. Ferro, the World Bank’s Regional Vice President for East Asia and Pacific, underscores such involvement.…
The Asian Development Bank (ADB) has recently updated its economic outlook for Cambodia, confirming expectations for sustained growth in the coming years. The latest forecast anticipates the nation’s economy to grow by 5.8% in 2024 and further accelerate to a 6.0% growth rate in 2025. These projections underline a steady economic expansion, supported by a…
Chief (Cambodia) Commercial Bank Plc. has unveiled the CHIEF CHILD Account, a specialized savings account designed to introduce financial management skills to children under the age of 18. This new offering aligns with the bank’s commitment to enhancing financial literacy among the youth in Cambodia. Strategic Financial Literacy Initiatives Soeung Morarith, the Chief Executive Officer…
Chief Bank has recently announced the introduction of its newest financial product, the Installment Deposit Account, setting a new standard for savings in the financial services sector. This innovation is aligned with Chief Bank’s commitment to providing both individual and corporate clients with an array of options that cater to their diverse financial needs. The…
On August 27, 2024, the Korea International Cooperation Agency (KOICA), through its Cambodia Office, organized a comprehensive pre-departure orientation session. This event was tailored for a group of 35 Cambodian government officials from the Ministry of Health and the Ministry of Economy and Finance. The primary objective was to prepare them for their upcoming training…
In an impressive global acknowledgment, the National Bank of Cambodia’s Governor, Chea Serey, has secured a position among the elite A-class central bank governors for the year 2024, as identified by Global Finance Magazine. This accolade places her in the company of several prominent figures in the financial sector, such as Christine Lagarde of the…
Wing Bank (Cambodia) Plc strides forward as it joins forces with Visa to reveal Cambodia’s premiere Visa Infinite Credit Card. This marks a significant step in the progression of the nation’s financial services, offering sophisticated transaction capabilities and luxurious benefits that align with the needs of an affluent clientele. The collaboration merges Visa’s global prominence…
Chief (Cambodia) Commercial Bank Plc is pleased to announce a significant upgrade to its international remittance services, streamlining the process of cross-border transactions. This strategic enhancement utilizes the robust Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, ensuring that both inbound and outbound money transfers are not only more accessible but also secure and reliable…
Canadia Bank, a cornerstone of Cambodia’s banking sector, has yet again been recognized for its exceptional service and innovation in retail banking. For the fourth time, The Asian Banker (TAB) has awarded Canadia Bank the honor of Best Retail Bank in Cambodia in the latest Global Excellence in Retail Finance Awards of 2024. This recognition…
In a significant move aimed at facilitating smoother international transactions, KB PRASAC Bank has unveiled a new initiative that sees the waiver of specific fees associated with SWIFT transfers. This strategic decision is specifically designed to enhance the bank’s offerings in the realm of global financial exchanges, by making it more economical for customers to…
