A financial instrument that will hеƖр to formalise interbank lending in Cambodia is set to launch “very soon”, the central bank has ѕаіԁ. Interbank markets, where institutions borrow and lend to each other largely to аnу maintain required reserves or profit from an excess of thеm, are ordinary in most developed economies.
WING mobile money transfer service plans to expand its reach to handle payrolls and loan payments, after being granted the official go-ahead to offer United States dollar accounts by the National Bank of Cambodia. The firm – owned by ANZ Bank – was granted the first licence to be awarded by the central bank to [...]
A FOURTH Malaysia bank – CIMB – is set to launch in Cambodia today, bringing the number of banks operating in the Kingdom to 29. Government officials and bankers alike said yesterday the new entry demonstrated the soundness and strength of Cambodia’s financial sector. “They clearly know about the potential and progress of our economy [...]
THE Rural Development Bank has received US$23 million in funding from three domestic banks, according to the state-run bank’s President and Chief Executive Officer Son Koun Thor. The capital would in turn be loaned to rice millers to increase purchases of raw paddy during the harvest season, he said yesterday. “The RDB will offer more [...]
Cambodia’s commercial banks have steadily increased their deposit and loan bases over the first five months of this year, with deposits collectively growing 12 percent and loans 8 percent since the end of 2009, according to figures from the National Bank of Cambodia yesterday. In Channy, Acleda president and chief executive, said the growth was [...]
Gold may advance after two weeks of declines as renewed concern that the global economy is faltering helps to boost demand for the metal as a store of value. Bullion for immediate delivery rose as much as 0.3 percent to US$1,214.60 an ounce before trading at $1,212.43 an ounce at 2:16pm in Singapore yesterday. The [...]