Cambodian Economy Reviews

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 National [...]

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 centres [...]

THE Australian government gave a A$1.5 million (US$975,000) grant Wednesday to WING, a mobile payment service and a wholly owned subsidiary of the Australia and New Zealand Banking Group (ANZ), through its Enterprise Challenge Fund.
This grant will help support financial literacy, increase income opportunities and provide millions of dollars worth of savings for Cambodians living [...]

ACLEDA Bank has posted healthy first-quarter figures for its operations in Laos, a bank representative said Tuesday, with the Cambodian-owned bank recording large increases in both deposits and loans, defying the financial crisis.
Yin Virak, ACLEDA vice president and head of the bank’s International Department, said the bank’s loans had more than doubled from US$1.2 million [...]