Khmer News- Cambodian economy » Banking sector

The easiest way of grabbing low rate car loans from Cambodian commercial banks

vutha — Fri, 06 May 2011 08:26:19 +0000

Whether you’re a resident of Cambodia or anywhere else in the world, with the present global financial hangover, everyone is looking for ways to save money in every little way possible. If you’re a prospective vehicle buyer in Cambodia, you must be looking for the commercial banks that specialize in offering loans at [...]

Opening saving account for your kids?

vutha — Wed, 02 Mar 2011 03:45:53 +0000

All of us may have different dreams and different wishes. However all parents have a common hope and that is to give the best to their children so that they can have a bright future. Education is undeniably the greatest vehicle to get to such as dream. Nevertheless, we’ve all known that education, [...]

Civil servant pension managed by Canadia bank

vutha — Sat, 10 Jul 2010 01:32:05 +0000

Canadia Bank signed agreement with the National Social Security Fund for Civil Servants (NSSFCS) yesterday in Phnom Penh in order to manage a pension and social security fund to Cambodian civil servants.

Initially, offering fund is for civil servants in Phnom Penh and it will be available through the banks a [...]

Banks launch sell down of $421m Mobitel loan

vutha — Sat, 27 Mar 2010 02:09:34 +0000

ANZ and Standard Bank launched the sell down of a US$421 million 18-month bridging loan this week, to back the Royal Group’s acquisition of Millicom’s majority stake in Mobitel.

The loan covers the Royal Group’s November purchase of Luxembourg-based Millicom International Cellular SA’s network operations in the Kingdom for $346 million. [...]

Pay electricity bills through bank’s ATMs

vutha — Thu, 27 Aug 2009 02:08:49 +0000

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).

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.

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Budgetary transaction handled by bank

vutha — Thu, 25 Jun 2009 01:55:26 +0000

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.

Banker loan to small business

vutha — Tue, 16 Jun 2009 02:14:20 +0000

Cambodia 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 [...]

Commercial banks’ ATM network expanded

vutha — Thu, 11 Jun 2009 07:53:05 +0000

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 [...]

SMEs need to gain access to finance

vutha — Wed, 10 Jun 2009 00:47:21 +0000

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.

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Financial lease law draft approved

vutha — Mon, 01 Jun 2009 08:27:49 +0000

On Wednesday, May 27, 2009, the National Assembly passed unanimously the draft law on financial lease that is allow banks to issue leases for equipment, machinery and vehicles to business and enterprises in the wake of the global financial crisis. This law does not apply to land or real estate.

Money laundering happens in almost every country in the world, and a single scheme typically involves transferring money through several countries in order to obscure its origins. In practice, criminals are trying to disguise the origin of money obtained through illegal activities so it looks like it was obtained from legal sources. The most [...]

Commercial bank installed ATM fingerprint recognition

vutha — Thu, 21 May 2009 00:15:36 +0000

The Foreign Trade Bank of Cambodia (FTB) has equipped new high technology for its customers to use ATM (Automatic Tell Machine) which have innovative and advanced functionality to make them easier to withdraw money, which those find modern technology a little scary. The bank installed ATMs with the fingerprint recognition technology that customers do [...]

Cambodia’s Banks not affected by global financial crisis

vutha — Thu, 04 Dec 2008 00:50:21 +0000

In the last decade, the growth of the banking sector is playing important role in sustaining Cambodian economic growth because of three factors: political stability, economic policy and social consistency. By the way, the breakout of the world financial crisis is deeply affecting the developing and developed countries. According to Cambodian analysis did [...]