Some of Cambodia’s largest banks and financial institutions have announced plans to expand their businesses following solid macroeconomic performance so far this year.
Cambodia will host the 22nd Asean Banking Conference and the 49th Asean Banking Council Meeting, Association of Banks in Cambodia (ABC) president In Channy said on Thursday.
A new report has found that 28.1 per cent of Cambodians borrow money to pay for healthcare, with microfinance insiders claiming it does not reflect the reality in the financial sector.
Japanese online financial services group SBI Holdings Inc last week announced that it will acquire a 70 per cent stake in a Cambodia-based Ly Hour Microfinance Institution Plc (LHMFI) in a bid to re-enter the Kingdom’s banking sector, Japan-based Kyodo News Group’s economic news site NNA Asia reported.
The National Bank of Cambodia (NBC) on Wednesday announced the soft launch of its Retail Pay System which aims to boost interbank market activity and inclusion in the Kingdom.
The Asian Development Bank (ADB) has approved a $40 million policy-based loan to support poor and rural households and improve their financial access, it said.
The private sector and government institutions met on Thursday in Phnom Penh to discuss the digital transformation in the Kingdom’s financial industry.
Cambodia's adoption of financial technology (fintech) has been showing rapid growth recently, despite the current low rate, Mekong Strategic Partners Co Ltd (MSP) said on Wednesday.