Banking Cambodia 2009 Event will be held on February 19-20 at NagaWorld Hotal, Phnom Penh, Cambodia, organized with a specialized Expo for the Banking & Finance industry. Leading international technology vendors and Top banks across Cambodia will showcase their state of-the-art Payment and Card Solutions, ATM, Front-Office, Contact Center, Core Banking and many others solutions and services.
This event is the only commercial platform in the region dedicated to the facilitation of business dealings and partnerships in the Cambodian Banking Industry. It brings together international & local sellers & buyers, investors, bank owners, Financial services Industry experts and specialized vendors.
Derrick Tan, senior adviser to IDG Indochina, was quoted by the Phnom Penh Post as saying that “The two-day conference and expo will focus on information communications technology solutions.” He added that “It is also an opportunity for stakeholders in the banking and finance industry to discuss the challenges facing the entire industry and economy … and then seek strategies and practical solutions to help sustain the growth of the Cambodian economy.”
Phu Leewood, secretary general of NIDA, said the event coincides with the worsening credit crisis facing global banks. “The conference and expo will be a chance for bankers and experts in banking and finance institutions to meet and discuss … crises and solutions in this industry,” said Phu Leewood. “It is also an event to push the development of ICT in banking and finance institutions, reported The Phnom Penh Post.
According to the IMF assessment, it warned that the global financial crisis is spreading to Cambodia’s banking industry. In addition, the IMF shows non-performing loans rising to a startling 13 percent, with six banks falling short of the government’s risk-weighted capital ratio of 15 percent.
Bankers and government officials used to say that Cambodia banking system was not affected by the world financial crisis, because most of banks don’t depend on foreign source of finance and loans. In addition, Cambodia has no stock market.