COMMERCIAL banks yesterday said they welcome a larger role for Microfinance Institutions in the Kingdom, following an announcement that the National Bank of Cambodia had granted a deposit licence to VisionFund Cambodia. VisionFund is at least the seventh MFI to receive a deposit licence, and has announced interest rates on certain deposits as high as [...]
The National Bank of Cambodia (NBC) gave in-principal approval to the Bank of China to open its business in Cambodia in June 2010. Yesterday, it is the first time that branch of Bank of China opened its business operation and customers can open bank accounts at the bank. The office of Branch of Bank of [...]
CIMB Bank Plc, which is CIMB Group’s subsidiary, was officially opened its business yesterday in Cambodia after getting licence of banking operation. CIMB received approval in principal to establish and operate in the Kingdom of Cambodia six months ago to offer banking products and services to Cambodians and foreign businessmen. Datuk Seri Nazir Razak, Chief [...]
The Securities and Exchange Commission of Cambodia (SECC) issued the securities company licence to CampuBank Securities Plc, which is the subsidiary owned by Cambodian Public Bank plc, to act on securities underwriting business, securities dealing business, securities brokerage business and investment advisory business in Cambodia. Underwriting is to provide advice on the issue of securities [...]
Malayan Banking Bhd- Maybank – opened its ninth branch in Sihanoukville last week and it is the third branch located outside of Phnom Penh in order to expand customer reach and tap the growing economic potential in Cambodia. Other two branches outside of the capital are located in Siem Reap province, which is the tourism [...]
In order to protect of the depreciation of value of Cambodia’s currency and stabilize the Cambodia’s macroeconomics, the National Bank of Cambodia has tried to raise the value of Riel by purchasing a further US$5 million. The total of amount of dollars the central bank purchased reached US$48 million for the year. Since mid-April, Cambodia’s [...]