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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 [...]
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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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 [...]
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 [...]
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 [...]
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