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Cambodia > Finance

Finance ministry lays out VAT exemptions on basic food items for 2022-2023 period

01/14/2022 09:15

Stakeholders are buoyant after the Ministry of Economy and Finance granted an extension of value-added tax (VAT) exemptions on a raft of basic food items for January 1, 2022-December 31, 2023.

Cambodia > Finance

IRC chief drums up support for more bancassurance deals

01/13/2022 07:13

Insurance Regulator of Cambodia (IRC) director-general Bou Chanphirou on January 12 urged banks, other financial institutions and insurance companies to cooperate in bancassurance to drive further growth in the insurance sector, and raise penetration and density.

Cambodia > Finance

2021 a banner year for finance: NBC

01/12/2022 14:29

Business performance in the banking and financial sector remained strong in 2021 in terms of the quality of credit and deposits, despite the fallout from the Covid-19 outbreak that has hampered economic activity for two years, according to the National Bank of Cambodia (NBC).

Cambodia > Finance

Maybank clinches ‘Best International Bank in Cambodia 2021 Award’

01/12/2022 14:27

Maybank Cambodia was named the “Best International Bank in Cambodia” by Asiamoney Best Bank Awards for the second consecutive year, acknowledging the bank’s role in adopting sustainability into its business and community initiatives, including efforts in accelerating financial inclusion across borders.

Cambodia > Finance

CBC unveils financial health check service

01/07/2022 07:55

Independent financial information provider Credit Bureau (Cambodia) Co Ltd (CBC) on January 6 said it has launched Credit Report Plus, a new and improved financial health check service feature available exclusively on CBC Mobile app that aims to help borrowers stay on top of their financial health and make better-informed decisions.

Cambodia > Finance

Agribee link agriculture world

12/27/2021 07:59

AgriBee (Cambodia) Plc, a value chain management company, aims to scale up the performance of key players in the agricultural and agribusiness sector and improve operations at all stages of the supply process, to deliver more valuable products to end customers.Founded in December 2019, the company has been developing BeeApp to provide stakeholders in the sector with easier access to funds, technical assistance and other market-oriented services and supports.The firm identifies these key players as farmers, agri-input suppliers, crop traders, rice millers and exporters, and financial institutions, and connects them through the platform. It places great emphasis on farmers, as one of the most vulnerable actors in the sector.The app has onboarded 3,000 smallholder farmers, 300 BeeShops, 20 BeeDepo, 20 crop traders, 70 rice millers, five agri-input suppliers, five exporters and two microfinance institutions (MFI).AgriBee is also lending a hand in arrangements for the collection of 100,000 tonnes of paddy, and contract farming agreements with 12 agricultural cooperatives.Securing financing has proven particularly difficult for agricultural actors, with loans to the sector consistently accounting for fewer than 20 per cent, according to central bank data.During the Covid-19 crisis, the sector continued to enjoy growth, although a great deal of potential is believed to have been squandered due to limited processing capacity and the fact that exports comprise predominantly raw materials.On top of that, investors have generally remained hesitant to enter the market.The company’s chairman Mak Chamroeun sat down with The Post’s May Kunmakara to discuss more about what AgriBee has been up to, and how it has improved Cambodian agricultural value chains.

Cambodia > Finance

$4.5B in 2021 fiscal revenues: PM

12/24/2021 07:51

Cambodia is expected to collect more than $4.5 billion in fiscal revenues this year, as the economy rebounds from a 3.1 per cent contraction in 2020 to growth of around three per cent this year, partially driven by the reopening of full economic activity, according to Prime Minister Hun Sen.

Cambodia > Finance

Tax department to online businesses: Get duly registered

12/24/2021 07:50

The General Department of Taxation (GDT) has reiterated a call for owners of e-commerce and other online entities conducting business in Cambodia to properly register, saying it will start to charge a value-added tax (VAT) on digital goods and services on January 1.

Cambodia > Finance

CBC chips in with $1M for financial inclusion reforms

12/24/2021 07:49

Independent financial information provider Credit Bureau (Cambodia) Co Ltd (CBC) has announced a commitment of $1 million to promote financial inclusion in the Kingdom.

 

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