· 108 articles
In a landmark year, the Asian Development Bank (ADB) allocated resources amounting to $23.6 billion, adopting a significant stance on climate finance with a substantial $9.8 billion directed towards climate initiatives. This allocation is structured to propel sustainable advancement across Asia and the Pacific regions, as highlighted in the ADB Annual Report 2023. The report…
On April 23, 2024, a significant meeting took place, marking a new phase for the banking industry in Cambodia. Mr. Rath Sophoan, Chairman, along with Council Members of the Association of Banks in Cambodia (ABC), had the privilege of meeting with Her Excellency Dr. Chea Serey, the Governor of the National Bank of Cambodia. The…
In a significant move towards financial inclusivity and convenience, Wing Bank (Cambodia) Plc has reduced its cash-out fee for all Bakong KHQR customers at Wing Cash Xpress Agents, Wing Master Agents, and Wing Bank Offices nationwide. With fees as low as 800 riels, Wing Bank ensures that customers traveling to provinces can easily access their…
In a significant step toward enhancing the welfare of workers, the Ministry of Labour and Vocational Training of Cambodia, led by Minister Heng Sour, is spearheading an initiative to establish community nurseries according to international standards. This pioneering project, held in collaboration with Planète Enfants & Développement and the World Bank, promises to set a…
The World Bank has released its latest economic update for East Asia and the Pacific, revealing that Cambodia and the Philippines are expected to be the fastest-growing developing economies in Southeast Asia this year. The bank revised its GDP growth forecast for Cambodia from 5.5 percent to 5.8 percent, and for the Philippines from 5.6…
The National Bank of Cambodia (NBC) recently announced that the 11th annual Macroeconomic Conference will be held on December 17, 2024. This year’s conference, themed “Geoeconomic Fragmentation: Implications and Policies,” is a collaborative effort between the NBC and the International Monetary Fund (IMF). The primary objective of the conference is to foster a culture of…
The Association of Banks in Cambodia (ABC) and Cambodia Microfinance Association (CMA) organized a stakeholders’ reflection workshop to discuss the progress and way forward for promoting financial literacy in Cambodia. The workshop, held at the National Bank of Cambodia’s (NBC) Center for Banking Studies on March 26, had an attendance of 40 stakeholders, including representatives…
Visa, a global leader in digital payments, has recently unveiled key findings from its Visa Consumer Payment Attitudes study, shedding light on the immense potential for Cambodians to embrace digital payments and keep pace with their Southeast Asian counterparts. As Cambodia makes steady progress in adopting digital payment solutions, a significant 23% of surveyed Cambodians…
Cambodia is gearing up to host the 47th annual meetings of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) from May 15-17, 2024. The upcoming event aims to facilitate knowledge exchange and collaboration among delegates from approximately 41 countries. Themed “DFIs Role in Sustainable Finance Ecosystem: Cultivating a Climate-Smart and Sustainable…
In an effort to revitalize and promote the use of Cambodia’s national currency, the National Bank of Cambodia has announced the launch of the “Love the Riel” campaign. This initiative, set to run from March 20 to 29, 2024, invites citizens to exchange their old or damaged riel banknotes for new ones without any cost.…
The Credit Guarantee Corporation of Cambodia (CGCC) has significantly bolstered the local economy by providing $174 million in credit guarantees to 2,070 businesses for their expansion efforts as of February this year. A recent factsheet from CGCC highlights that, by the end of February 2024, the total outstanding guaranteed loans reached $120 million, with the…
As the financial landscape of Cambodia continues to evolve, ACLEDA Bank, KB Prasac Bank Plc, and Sathapana Bank have emerged as leaders in the banking industry, particularly in terms of deposit accumulation as of the third quarter of 2023. According to the latest figures from the Cambodia Microfinance Association, these banks have shown significant growth…
The Cambodian government is intensifying its efforts to streamline tax payments and public services through digitalization, as highlighted by officials during the Digital Government Forum held at the Koh Pich Convention and Exhibition Center. This event, titled ‘Sustainable and Inclusive Development through Digital Policy Implementation,’ was spearheaded by the Ministry of Post and Telecommunications. It…
