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Cambodia > Finance

Central shared switch due to launch in July

27/06/2017 10:34 | 0 comments

The central bank hopes to launch its central shared switch mechanism next month after a trial run that has already connected the account records of three of the Kingdom’s leading financial institutions, allowing them to operate ATM and point-of-sale (POS) terminals in tandem, according to a banking official.

Cambodia > Finance

NBC, South Korea team up for research

27/06/2017 08:00 | 0 comments

The central banks of Cambodia and South Korea signed an agreement on Friday to jointly conduct research and analyse the relationship between exchange rates and inflation in the Cambodian economy, according to bank officials.

Cambodia > Finance

New rules for digital payments

26/06/2017 09:19 | 0 comments

The central bank has issued new regulations governing the licensing of payment services providers (PSPs), requiring that all firms providing online services to accept electronic payments have at least $2 million in registered capital, a move expected to increase the stability of the sector and encourage the consolidation of its smaller players.

Cambodia > Finance

China’s squeeze on capital outflow felt in Cambodia

23/06/2017 08:56 | 0 comments

Stringent capital controls imposed by China’s central bank last November that scrutinise the outbound flow of money from the mainland have created uncertainty for Chinese investors looking at the Cambodian market and could jeopardise future and existing projects.

Cambodia > Finance

Banks roll out cards with new logos

22/06/2017 08:15 | 0 comments

Financial institutions that were abruptly ordered to change their logos earlier this year due to the perceived similarities with state iconography have begun issuing new bank cards to their clients free of charge.

Cambodia > Finance

Equity fund takes stake in iCare

19/06/2017 10:30 | 0 comments

A Singapore-based private equity fund manager has acquired a significant minority stake in iCare Benefits (Cambodia) Co Ltd, an employee benefits programme offered to enterprises that operate in the Kingdom.

Cambodia > Finance

A roadmap for financial growth

16/06/2017 13:27 | 0 comments

The government yesterday unveiled its financial sector development strategy for 2016 to 2025, which provides stakeholders with a document to evaluate the last decade of growth while outlining an action plan for the next decade.

Cambodia > Finance

Dollar use hurting national economy

08/06/2017 09:26 | 0 comments

Dollarisation in Cambodia’s economy remains very high, leading to increased local costs and reducing the appeal of the Kingdom’s exports, Chea Serey, director general of the National Bank of Cambodia (NBC), said at a business conference in Phnom Penh yesterday.

Cambodia > Finance

Bank services VAT seen as ‘inefficient’

07/06/2017 08:59 | 0 comments

Banking sector leaders have expressed concern over a new government decree that places additional fees on financial services, warning that the costs of what some have described as an “impractical and inefficient” tax would likely be passed along to consumers.

 
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