Smart Mobile has cooperation with Cambodia’s leading commercial bank ACLEDA to offer credit top-ups at ATMs. The phone operator signed a deal with the bank in February. Mobile service provider Smart Mobile (093/010) entered within the Cambodian telecoms market with a world-class team of telecommunications experts offering experience from across Cambodia and across the globe. [...]
In a bid to stop dropping the devaluation of Cambodia’s national currency, the National Bank of Cambodia (NBC) sold US$6 million to make the value of the riel stable and wanted to retain riel value at about 4,000 riel to every dollar. The National Bank of Cambodia is the Central Bank which is an autonomous [...]
After break-out of the global financial crisis, the national bank of Cambodia (NBC) has set up an approximately US$ 100 million loan for commercial banks to make sure that they will have cash on hand if needed. The central bank is ready to be careful with this issue, keeping a close eye on the banking [...]
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 [...]
Despite the global financial crisis, ACLEDA banks, leading commercial bank, still widened its operation across country. On Wednesday the bank opened up its new branch in Kampot province in order to tap into a considerable local market for small loans. It is the 14th branch standardizing like branches set up in Cambodia and Laos. Say [...]
Despite the global financial crisis, the new Indian bank still starts operating its door in Cambodia following the South Korean bank-Kookmin- operated in Phnom Penh in the earlier this month. The opening of the bank of India is part of a growing interest from foreign banks that have sought to invest in the Cambodian economy, [...]
Commercial banks are playing an important role in providing loans for Cambodia’s small and medium enterprises to drive the economic growth, but small enterprises lack the formal financial support to expand their business, it is because the banking and financing sector do not access the remote rural areas. According to studies, there are around 64,000 [...]
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 [...]
Malayan Banking Bhd (Maybank) which opened its third branch in Phnom Penh early this year, it started opening its first provincial branch in Siem Reap province. That is the fourth branch operating since Maybank set up its branch in Cambodia in 1993. Chou Teong Boon, branch manager, was quoted by the Phnom Penh Post as [...]