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Tag Archives: central bank
The Central Bank’s general functions and duties
According to the Law on the Organization and Conduct of the National Bank of Cambodia made on January 26, 1996, the National Bank of Cambodia (NBC) is the “Central Bank” which is an autonomous public entity of a commercial and industrial nature. The Central Bank’s Head Office is situated in Phnom Penh Capital of the … Continue reading
Bank deposits climb in first half
A NUMBER of leading banks have reported a rise in deposits in the first six months of the year compared with the same period last year. They said the reasons were two-fold. Firstly, clients are turning to quality institutions to manage their deposits, and secondly, the economic crisis means people are saving rather than investing. … Continue reading
National revenue and expenditure handled by commercial bank
In a bid of the Cambodia government to enhance national financial accountability and strengthen effective management in public institutions, Ministry of Finance on Monday signed a memorandum of understanding with commercial bank, Acleda, to handle government’s budgetary and revenue transaction, including the payment of government salaries in Kandal and Banteay Meanchey provinces. “Using the commercial … Continue reading
Central Bank Sees No Emergency Loan Requests
Not a single lending institution in six months has taken the National Bank up on an offer of emergency loan assistance, officials said Friday. Emergency loans are available to banks facing liquidity constraints in the wake of the global financial crisis, but so far “none of the banks have applied for a loan,” according to … Continue reading
Banking sector calls for cut in reserve rate to bolster liquidity
SOME of the country’s largest banks have called for a cut in the reserve requirement in a bid to free up capital and boost lending, a move that the NBC appeared to reject on Sunday in saying that the rate would stay at 12 percent. The reserve requirement forces banks to deposit a percentage of … 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
