Cambodian Tax Rates 2020

The Cambodian Ministry of Economy and Finance has revised the tax rates for all business owners and employees in Cambodia in 2020. According to a...

New Inter-bank Transfer System Launches

The National Bank of Cambodia (NBC) last week held the soft-launch for its new inter-bank transfer system that will allow customers to transfer money...

How are Cambodian businesses affected by COVID-19?

COVID-19 has had an adverse effect on the entire globe, and in Cambodia, key industries have also taken a financial hit. A number of...

Amid Asian Offloading, It’s Business As Usual For ANZ Royal

ANZ Royal, the joint venture between the Australian and New Zealand Bank Group (ANZ) and Kith Meng’s Royal Group, is not currently under review...

Acleda Aims For Full Digitalisation Of Branch Offices

Acleda Bank, one of the biggest commercial banks in Cambodia, aims to have all its branch offices in Cambodia fully digitalised in the near...

E-banking & Cybersecurity In The Kingdom

To address the needs of an increasingly tech-savvy population, banks operating in the Kingdom have, over the past five years, developed advanced online banking...

Maybank Launches Innovative Campaign, Pushes For Affordable Housing

Maybank Cambodia launched today the “Maybank Save Now & Win Big” deposit campaign during an event held at Maybank Tower. The campaign aims to encourage...

Fintech in Cambodia 2020

Fintech companies are arguably the among best prepared for the current COVID-19 pandemic in 2020. With the shift to "remote working" or working from...

NBC Recruits Banks For QR Code System

A new QR code-based payment system, which is being developed in cooperation with Thailand, will launch next year, representatives of the central bank announced...

Visa Cards Now Accepted At Angkor Archaeological Park

Visa, the global payments technology company, has announced that Visa cards will now be accepted at the Angkor Archaeological Park in Siem Reap, one...

Korean Bank Acquires Local Microfinance Firm

NH Nonghyup, a South Korean bank, was granted permission from the Cambodian central bank and the Department of Commerce to take over SAMIC, a...

Cambodia, Thailand plan QR code-based payment system

Cambodia and Thailand are working on a new electronic payment system based in QR codes that will allow citizens of one country to shop...

According To Survey, Cambodia Still Largely Unbanked

Only 17 percent of the Kingdom's population is banked, according to the findings of the FinScope Consumer Survey. The study also concluded that poor...

SME Bank to launch in Cambodia

According to reports in the local Cambodian media, SME Bank will launch in 2020 with an initial capital of $100 million and provide financing...

Investment Insight: Listing on the Cambodia Stock Exchange

The Cambodia Stock Exchange (CSX) is one of the youngest and smallest stock exchanges in the world and is the national stock exchange of Cambodia. Who has listed...

E-commerce Set to Make Waves in Cambodia

Cambodia’s newest arrival on the nascent local e-commerce scene opened its doors last Friday to curious media representatives and members of the local business...

BRED Bank Bringing European Standards To Cambodia

France’s BRED Bank, one of the largest lenders in Europe, officially opened its first branch in Cambodia yesterday with $30 million in investment capital,...

Cost Of New Bank Service Tax May Be Passed On To...

A prakas issued by the Ministry of Economy and Finance on May 25, that more clearly defines the government’s laws for nontaxable supplies of...

Maybank Cambodia Hosts Event To Boost Banking Talent Development

A first-of-its-kind event to help accelerate the development of skilled talent and create a sustainable pipeline of human capital for the country’s banking industry...

Loans and deposits see ‘solid’ growth: Central bank

In the first half 2018, the local financial sector continued the strong growth that has characterised the industry in recent times, with commercial banks...

Insiders Discuss Fintech Industry In Cambodia

With the rise of fintech (financial technology) startups and peer-to-peer lending models, Cambodia’s financial industry is transforming quickly to accommodate a new generation of...

National Bank Of Canada Becomes Major Shareholder Of ABA Bank

In a joint press conference held yesterday, National Bank of Canada and ABA Bank announced an agreement through which the North American banking institution...

Cambodia’s Economic Outlook Bright, But Not Too Much: ANZ Royal

Speaking at a conference organised by ANZ Royal at Raffles Hotel Le Royal on Friday, Glenn Maguire, ANZ’s Chief Economist for South and Southeast...

The Credit Bureau of Cambodia, Pascal Ly And In Channy Talk

An accurate and reliable source of credit data is tantamount to the financial stability and development of any country. When investors have access to...

Gearing Up For NBC’s New Interbank Transfer System

The National Bank of Cambodia (NBC) launches today its much-awaited interbank transfer system, known as FAST in industry circles. The new system aims at...

2017 Patent Tax Filing And Payment Obligation

The General Department of Taxation has reminded and updated all registered taxpayers on their obligation to submit and remit Patent Tax for 2017 as...

Cambodian Banking Leaps Forward

Cynthia Liaw, CEO of Maybank Cambodia, is a Singaporean national with over 20 years experience in the banking, credit and finance industry. Coming to...

CSR In Banking: The Movement For Financial Inclusion

‘Doing good is good for business’ may not be a centuries-old adage, however, that doesn’t make this statement any less accurate, as companies throughout...

Phnom Penh To Host 2017 World Economic Forum

Phnom Penh is set to host the 2017 World Economic Forum (WEF) on East Asia, local media reported on April 29, taking the reigns...

NBC injects 238 bln riel into local banks through LPCO

The National Bank of Cambodia has disbursed more than 238 billion riel, about $58.5 million, in the first half of the year through its...

Transferring Money Across The Kingdom

In place of formal bank accounts, many Cambodians rely on alternative payment systems to transfer money and pay utilities. Given that 94 percent of...

Financial Planning In Cambodia

The financial planning market in Cambodia is still relatively young, underdeveloped and under-regulated. However, with a rapidly expanding economy, driven partially by a thriving banking and...

SME Bank of Cambodia: SME Co-Financing Scheme

The SME Bank of Cambodia was officially launched by the Ministry of Economy and Finance on Friday 3rd April 2020. Small and medium enterprises...

Cambodia Withholding Tax (WHT) Rates 2020

The Cambodian government, through the Ministry of Economy and Finance (MEF) has issued Prakas (regulation) no. 525 in late June 2020 on the new...

Cambodian Market Slow To Adopt Digital Payment Apps

A cashless society within 10 years has been predicted for Cambodia, but despite an uptick in digital payment apps now available, experts say the absence...

Inflation In 2017 Low And ‘Manageable’

Inflation in Cambodia last year reached 2.9 percent due to a moderate increase in the price of key commodities, particularly petroleum and agricultural goods,...

NBC Warns Against Online Borrowing

The National Bank of Cambodia (NBC) yesterday called for citizens to exercise caution when dealing with online and mobile lending companies, as many of...

AEC As Seen By Banking & Finance Experts

Experts within the banking & finance sector have spoken, and this is what they have to say about the much-anticipated ASEAN Economic Community integration...

Cambodian Investment Management Confirms Company Stake Sale

A 30 percent stake in financial services firm Cambodian Investment Management (CIM) and its related group companies has been purchased by Tanncam Investment Company,...

Maybank Brings Home Prestigious Banking Awards

Maybank Cambodia has emerged proud winners of two awards, the Outstanding Consumer Marketing Campaign Bank and Outstanding Innovative Product & Service Bank at the...

Central Bank To Relocate To Allow Renovations

The head office of the National Bank of Cambodia (NBC) on Norodom Boulevard is to be temporarily moved to a building in Phnom Penh Thmey,...

Private equity could help struggling SMEs grow: CSX

Small and medium enterprises struggling to raise capital should consider private equity, said a senior official at the Cambodia Securities Exchange (CSX). Hong Sok Hour,...

New Interest Rate Cap Could Make Some MFIs Unsustainable

Dozens of Cambodia’s microfinance institutions (MFIs) could face bankruptcy and credit channels for the Kingdom’s poorest people could be at risk of drying up following...

Securing Funding For Your SME In Cambodia

There are currently 47 banking institutions in Cambodia and over 40 microfinance institutions (MFIs). Yet, despite the considerable number of institutions licenced to make...

Cambodian Car Market 2020

The Cambodia General Department of Customs and Excise says the Kingdom imported 414,725 vehicles worth $634.98 million in the first half of 2020. What vehicles...

Tax Payment Goes Online

Continuing efforts to boost government tax revenue and facilitate business operations in the country, the General Department of Taxation yesterday launched its electronic payment...

Wing’s New SME Service Helps Employees Jump The Queue

One of the Kingdom’s leading mobile bankers is expanding its services to help private companies. Wing Small and Medium Enterprises (SMEs) has started offering a...

Ensuring Safety In Your Online Banking Experience

Cybercrime is a multi-billion dollar industry with the capacity to target any individual or corporation in the world. As the schemes engineered by cybercriminals...

National Bank of Cambodia to launch Bakong digital currency in 2020

The National Bank of Cambodia (NBC) will launch a new digital currency under the moniker Project Bakong in 2020. Bakong has been labelled “a...

ANZ Royal Joins Banks In Offering Tax Payment Service

The signing on Friday of a memorandum of understanding (MoU) between the Ministry of Economy and Finance and ANZ Royal will see customers of...

ANZ Royal Takes Home Best Trade Finance Bank Award

ANZ Royal announced yesterday that it has been named "Best Trade Finance Bank in Cambodia" in The Asset’s Triple A Treasury, Trade and Risk Management Awards...

Central Bank Launches Online Service

Cambodia’s Central Bank is to launch the National Bank of Cambodia Platform (NBCP) tomorrow, a trading system that allows all financial institutions to make...

MFIs Will Continue To Thrive

Since Cambodia opened its doors to the banking sector, microfinance institutions (MFIs) have proliferated in Cambodia and, for them, business is still booming. The...

Cambodia Joins Ranks Of Lower-Middle Income Countries

The World Bank has revised upwards the status of Cambodia's economy, with the Kingdom moving up a rung from the low-income bracket into lower-middle...

Cautious Praise For Pension Scheme

While some in the business community have welcomed a government plan to launch a pension scheme for the private sector next year, a leading...

Cambodia Maintains Sovereign Credit Rating From Moody’s Agency

Healthy growth prospects and a stable external payments position has helped Cambodia maintain its B2 sovereign rating from global credit rating agency Moody’s Investors...

New Loan Scheme Offers Rapid Riel Liquidity For Cambodian Banks

The first Liquidity-Providing Collateralised Operation (LPCO) scheme was launched by the National Bank of Cambodia (NBC) yesterday, allowing local banks and microfinance institutions to...

Ministers To Showcase Cambodia At World Economic Forum 2017

A delegation of high-ranking Cambodian government officials – including Prime Minister Hun Sen, Commerce Minister Pan Sorasak, Economy & Finance Minister Aun Pornmoniroth, and...

Ministry Pushing To Get E-Commerce Law Passed Next Year

Details of the draft of Cambodia’s first e-commerce law are currently being worked on by the Ministry of Commerce, with the hope that it...

Maybank Celebrates Global CR Day

Over 18,000 Maybank employees worldwide last Saturday commemorated the seventh Maybank Global CR Day engaging directly with the communities in their respective locations through...

Cambodian MFI Sector In Goldilocks Zone

Mekong Strategic Partners, an investment, corporate advisory, and risk management firm covering the Greater Mekong Region, has issued its latest report detailing the current...

Maybank Cambodia Launch ‘Water For Life’ project

Maybank Cambodia, in collaboration with the Embassy of Malaysia and supported by the Ministry of Rural Development of Cambodia, launched their ‘Water for Life’...

Cambodia Annual and Monthly Tax Filing 2020

The Cambodian General Department of Taxation (GDT) has issued Instruction 7705 on March 19th 2020, which allows for Cambodian taxpayers to use the e-tax...

Sathapana Joins List Of Private Banks To Undergo Rebranding

Sathapana Bank Plc became the fourth major financial institution to announce a change to their company logo following last week’s directive from the Ministry...

Boosting Financial Inclusion Through Technology

Information and communication technologies, particularly smart phones, can play a key role in boosting financial inclusion in Cambodia, according to researchers at the Fourth...

Maybank Awesome Race Campaign Finds Winning Pair

Two lucky Maybank customers ran away with an iPhone 7 and $1,000 cash respectively on Saturday at the conclusion of the four-month long Maybank Awesome...

Ministry Launches Online Platform For Trademark Registration

A new online trademark registration gateway allowing individuals and companies to register trademarks in Cambodia was launched yesterday by the Ministry of Commerce. Applicants can...

Cambodian Startup Wins Place On Fintech Accelerator Program

Cambodia-based Morakot Technology is one of 12 startups chosen from 2,500 applicants worldwide to participate in Startupbootcamp’s fintech accelerator program in Singapore, a press...

SBI Ly Hour Bank Plc. obtains commercial bank license from NBC

Japanese financial firm SBI Holdings Inc. has partnered with Ly Hour Microfinance Institution Public Co. to create SBI Ly Hour Bank Plc after it...

Sihanoukville Autonomous Port To Become Fifth Listing On CSX

Sihanoukville Autonomous Port (SAP) is edging closer to be listed on Cambodia’s burgeoning stock exchange after five years of delays. The state-owned enterprise will start...

VAT For MFIs Delayed

The government announced yesterday that it will delay the implementation of the 10% value added tax from all microfinance institutions and banks from now...

World Economic Forum On ASEAN To Kick Off

High profile CEOs, prominent businessmen, ministers and leaders of ASEAN, India and Timor-Leste will gather in Phnom Penh next week for the launch of...

Cashless Society Closer But Hard Money Will Remain In Widespread Use,...

More than 50 payment companies are offering cashless services to customers, a rise from between five to 10 payment companies in the past two...

Growing Fintech In A Growing Cambodia

Presented by Fincy Written by Zwan Ross Lee, Global Head of Business Development, Marketing and Sales of Fincy. Global Fintech Fintech has evolved leaps and bounds since...

ASEAN Members Agree To Slash Tariffs On Trade Products

Experts yesterday welcomed recent moves by ASEAN members to agree to cut 90 percent of tariffs in the Regional Comprehensive Economic Partnership (RCEP) for between...

Rules Coming Soon For Cambodia’s FinTech Industry

The National Bank of Cambodia and the private sector are holding talks to determine inputs for regulation of financial technology, or FinTech. Bank director-general Chea...

Maybank Cambodia Hosts The First Maybank INVEST 2016

Maybank (Cambodia) Plc. hosted the Maybank INVEST 2016 event on 8 & 9 April 2016, with the objective to provide customers and the public...

Cambodia’s Financial Sector Assisted By ADB Loan

Cambodia’s financial sector was given a boost on Friday following the approval of a $40 million loan and a $600,000 technical assistance grant by...

Expat Offshore Pension Schemes

Mr. Jerome Robertson, Chief Operating Officer of Infinity Corporate Benefits Ltd, a business partner of Infinity General Insurance Cambodia, talks about the benefits of...

Islamic Finance To Debut Soon In Cambodia

Islamic finance, which upholds Sharia principals and is in line with the ethical values of Islam, will make its debut soon in Cambodia. According to...

Cambodian Riel Strategy Takes Shape

Cambodia’s first draft national strategy on promoting the riel is to be finalised next month and has been sent to the economic and financial...

Cambodia’s Total Borrowing Since 1993 Grows To $8.3 Billion

The government signed concessional loan agreements with development partners – both bilateral and multilateral – amounting to about $8.3 billion from 1993 to the...

ADB’s Assistance To Cambodia Nears 2.9 Bln

The Asian Development Bank (ADB) has committed over $2.8 billion in lending, grants, and technical assistance to Cambodia since 1966, making it the country’s...

NBC Increases Minimum Registered Capital Requirements

The National Bank of Cambodia (the “NBC”) issued prakas (regulation) B7-016-117 (the “Prakas”) on 22 March 2016, setting out new minimum registered capital requirements...

Financial Industry Slams Governor’s Call To Move ATMs

Finance industry experts have hit out at the Phnom Penh governor after he threatened to remove ATMs from municipality land following an attempt to...

Pi Pay, ABA Strike Digital Deal

Pi Pay and ABA Bank on Wednesday signed a partnership agreement to link Pi Pay mobile wallets to ABA bank accounts, bringing a new...

Cambodian Economic Growth Nudges Ahead Of Predictions

Cambodia’s gross domestic product is expected to increase by 7.1 percent in 2017 and 2018, slightly higher than the estimate of 7.0 percent last...

MFIs Urged To Consider Moveable Assets As Loan Collateral

Moveable assets such as cars, motorbikes, agricultural machinery and crop stocks should also be considered as loan collateral by Cambodia’s microfinance institutions (MFIs), economic...

Sihanoukville Autonomous Port Gets Ready For Listing

The Sihanoukville Autonomous Port (PAS) launched a book building process yesterday to determine what price to offer in an initial public offering (IPO), before...

Central Bank To Carry Out On-site MFI Audits

Cambodia’s central bank is to conduct on-site audits of microfinance institutions to check if they are complying with the interest rate cap that came...

Sihanoukville Autonomous Port Aims High For IPO

Following a bookbuilding exercise that received a marked response from institutional investors, Sihanoukville Autonomous Port (SAP) yesterday announced a share price of 5,040 riel ($1.26)...

Cambodia’s Finance Sector Wants No VAT

Banking and financial industry figures have called on the government to abolish the 10 percent value added tax on the sector, thinking it will...

VTrust Predicts Big Year For The CSX

The Securities and Exchange Commission of Cambodia (SECC) recently announced significant reforms to the infant Cambodian Stock Exchange (CSX). Companies that list on the Cambodia...

Government Bonds To Enter Market By 2022

The government on Friday reiterated its intention of issuing sovereign bonds, and said they will become available to investors in the next four to...

Cambodia’s Credit Growth Slows In Last Quarter Of 2016

The country’s credit growth slowed slightly in the fourth quarter of 2016, compared with previous quarters in the year, due to low commodity prices...

Exports Up In First Quarter

Exports are up 12% in the first quarter of 2017 compared with the same period last year, thanks to the improved economic performance in countries...

Equifax To Help Improve Credit Reporting In Cambodia

The Credit Bureau of Cambodia (CBC) is looking to leverage the resources and experience of US-based Equifax—one of the three biggest American credit report...

Blackwell Global Now Operating In Cambodia

Multi-asset brokerage Blackwell Global, with main offices in Cyprus, Hong Kong, New Zealand and the United Kingdom, yesterday started their business in Cambodia after...

Thai Bank Looking To Cash In On Cambodian MFI Acquisition

Bank of Ayudhya, Thailand’s fifth-largest commercial lender, noted in a financial statement on Friday that it was expecting a performance boost for the rest...

Consumer Credit Falls By 15% In Q2

Applications for consumer credit in the country dropped by 15 percent in the second quarter of the year compared to a big jump of...
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