Tag Archives: banking system

Obama’s Job Plan Hopes To Avert Downturn: Economist

A major plan put forward by US President Barrack Obama could create jobs and settle fears of another American economic slowdown, a Cambodian economics professor said Tuesday last week. Duch Darin, an adjunct professor at Tallahassee Community College in Florida, told VOA Khmer that Obama’s $447 billion job plan, unveiled Sept Continue reading

How Do Eurozone Worries Impact the Markets?

The original Ancient greek language bailout was agreed on May A couple of, The year 2010, if the Ancient greek language government attached funding regarding EUR45 billion from your Eurozone and also International Monetary Account (IMF), and also was confident more and more money would be made available. Since then, feeling all around the Eurozone … Continue reading

NBC to plan to purchase $5 million

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 … Continue reading

Smart banks a top-up deal

SMART Mobile announced Monday that its customers can now buy credit at ANZ Royal Bank machines in a sign of further integration between Cambodia’s banking and telecoms sectors. The phone provider is allowing users to top up at ANZ Royal’s ATMs in Phnom Penh, a press release stated. The service is also provided by market … Continue reading

Financial lease law passed by National Assembly

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. Chea Chanto, governor of the … Continue reading

Banking on an economic crisis

EXACTLY one year after the subprime mortgage crisis first hit in the United States in July 2007, Cambodia’s central bank took measures to reduce liquidity in its undeveloped financial system by doubling reserve requirements from 8 percent to 16 percent. This move showed Phnom Penh was clearly out of sync with the world’s major financial … Continue reading