Pay electricity bills through bank’s ATMs
Cambodia’s leading commercial bank, ACLEDA, has signed a memorandum of understanding with State-own electricity provider, Electricity du Cambodge (EdC), on August 17 at Raffles Hotel Le Royal in a purpose to provide the bank’s costumers in Phnom Penh and Kandal province to pay their electricity bills through Automatic Teller Machines (ATMs).
The ceremony of signing a [...]
Acleda bank rating upheld by Global credit risk agency
On Friday, 19 June, 2009, Moody, US-based global credit risk agency, confirmed in its statement that it has kept up the bank’s previous ratings mainly due to the role of Acleda’s shareholders, have has long-term focus and have demonstrated their support to the bank by providing equity and debt financing since its inception.
According to the [...]
Budgetary transaction handled by bank
In a bid of the Cambodia government to enhance national financial accountability and strengthen effective management in public institutions, Ministry of Finance on Monday signed a memorandum of understanding with commercial bank, Acleda, to handle government’s budgetary and revenue transaction, including the payment of government salaries in Kandal and Banteay Meanchey provinces.
“Using the commercial banking [...]
Banker loan to small business
Commercial banks are playing an important role in providing loans for Cambodia’s small and medium enterprises to drive the economic growth, but small enterprises lack the formal financial support to expand their business, it is because the banking and financing sector do not access the remote rural areas. According to studies, there are around 64,000 [...]
Commercial banks’ ATM network expanded
The global financial crisis did not affect strongly the local commercial banks in Cambodia because most of banks don’t depend on foreign source of finance, and loans from other foreign banks and also don’t buy stocks in the international market. At the mean time, Cambodia has not yet created stock exchange. As Cambodia’s banking sector [...]
SMEs need to gain access to finance
Due to the effect of the global economic slowdown, the large-scale investments in Cambodia are slowing down. It is hopeful that small and medium enterprises (SMEs) play an important role in improving economic development and creating sustainable employment and income, said Cham Prasidh, Ministry of Commerce, at the Tuesday’s meeting in Phnom Penh.
The meeting came [...]