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Catering to the economic intricacies of currency management, Cambodian Prime Minister Hun Manet has declared the inauguration of a new policy designed to streamline the circulation of old, slightly torn, or stained US dollar banknotes throughout the nation. Addressing a gathering of the Cambodian Oknha Association and the Housing Development Association of Cambodia at a…
The World Bank has announced the appointment of Tania Meyer as its new Country Manager for Cambodia. In her new role, Meyer, hailing from France, will steer the World Bank’s collaborations with various stakeholders in Cambodia, including the government, private sector, development partners, and civil society organizations. Stationed at the World Bank’s office in Phnom…
On July 23, 2024, a significant meeting took place at the Ministry of Economy and Finance, led by H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Chairman of the Inter-ministerial Coordinating Committee. The meeting was the fourth session dedicated to reviewing and finalizing the draft of the “Master Plan to Develop Cambodia Coastal Provinces into…
KB PRASAC Bank is delighted to unveil an exclusive promotion that aims to benefit both our valued clientele and the wider audience. For a limited period, extending up until 31 December 2024, we are waiving all charges on inward SWIFT transfers to any KB PRASAC account. This exceptional move is designed to streamline and make…
In a move to enhance the financial experience for both tourists and locals in Cambodia, Prime Minister Hun Manet has called on the National Bank of Cambodia and private banking institutions to facilitate the free exchange of slightly damaged US dollar notes. Speaking during the groundbreaking ceremony of the Samdech Pin Sem Museum in Siem…
Vattanac Bank is proud to announce the opening of its newly established Krong Bavet-Sangkat Bavet Branch in Svay Rieng Province, marking the launch of its 40th branch on the 6th of July, 2024. This move is part of the bank’s strategy to enhance financial services accessibility in Cambodia. The inauguration ceremony was honored by the…
On July 9, 2024, the Ministry of Economy and Finance hosted a significant gathering, marking the third Committee Meeting of the Inter-ministerial Coordinating Committee. Under the chairmanship of H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and a key figure at the ministry, the focus was on refining the draft report for the ambitious Master Plan…
The latest Government Finance Statistics (GFS) for April 2024 showcase Cambodia’s continued financial growth and effective management. Despite the global economic uncertainties, Cambodia’s efforts in maintaining a robust financial system reflect the dedication and strategic vision of its policymakers. This article highlights the positive aspects of Cambodia’s financial landscape, emphasizing the resilience and progress that…
The Asian Development Bank (ADB) has introduced a strategic plan set to redefine Cambodia’s developmental trajectory from 2024 to 2028. This strategy aims to forge a sustainable, inclusive, and resilient economy in Cambodia, aligning closely with the country’s ambitious Pentagonal Strategy for the same timeframe. Spanning five years, ADB’s approach intends to partner with the…
The World Bank’s Board of Executive Directors made a significant move on May 23, 2024, by approving a $40 million credit to fortify the job skills of around 33,000 Cambodians. This financial boost comes from the International Development Association (IDA) and is aimed at elevating both the quality and relevance of vocational skills within the…
The National Bank of Cambodia (NBC) is reinforcing its collaborative efforts with the ASEAN+3 countries, which include Japan, South Korea, and China, to foster economic growth and shore up the region’s financial security systems. At the helm of these initiatives, NBC Governor Chea Serey led a Cambodian delegation to the ‘27th ASEAN+3 Finance Ministers and…
On a meaningful Friday, the National Bank of Cambodia (NBC) and the National Bank of Georgia (NBG) marked a milestone by signing a memorandum of understanding (MoU). Chea Serey, Governor of NBC, and Natia Turnava, Acting Governor of NBG, embodied the commitment of their nations to foster financial cooperation aimed at curbing the reliance on…
The Ministry of Economy and Finance (MEF) of Cambodia has played a significant role in advancing the capabilities of the nation’s workforce through its Skills Development Fund (SDF). Initiated in 2018 with a projection to continue until 2024, the program has been lucrative for the nation’s human capital development. Recent data revealed by Han Ratanak,…
