Insurance is a key player in ensuring financial security for farmers, which is crucial for an agriculture-based country such as Cambodia. One of the players in the insurance market, Forte Insurance, has been providing such policies, in a pilot project for the sector, since 2015.
SME Bank, the Kingdom’s new bank with an initial capital of $100 million that’s set to provide financing for small and medium enterprises (SMEs), is expected to launch later this year as funds are already in place for activation, a senior finance ministry official said on Tuesday.
Acleda Bank Plc and Credit Bureau Cambodia (CBC) on Tuesday inked a business partnership to provide financial health check services, which allow clients from financial institutions to check their own credit history at Acleda Bank.
Small and Medium Enterprises (SMEs) are still waiting for tax authorities to provide procedural details after the government announced tax incentives for SMEs in six priority sectors three months ago, said Federation of Associations for Small and Medium Enterprises of Cambodia (Fasmec) operations manager Ly Visal.
Cambodia's largest microfinance institution Prasac has raised its registered capital from $110 million to $168 million, an amount five times larger than the National Bank of Cambodia’s (NBC) requirement.
The National Bank of Cambodia (NBC) will continue to promote the development of the Fourth Industrial Revolution in the Kingdom’s financial sector, according to its Macro-economic and Banking Sector Development in 2018 and Outlook for 2019 report released last week.
Credit Bureau Cambodia (CBC) announced last week that it will launch a new credit reporting system which will transform the current consumer credit report into a commercial credit report that functions as a platform detailing a company’s credit history.
The double taxation agreement between Cambodia and three other countries has come into effect and will be implemented from January 1 next year, a General Department of Taxation (GDT) press release said.
Cambodia's largest financial institution, Acleda Bank, inaugurated its subsidiary firm Acleda Institute of Business’ (AIB) new $36.7 million campuses (including land cost) in the capital’s Sen Sok district on Wednesday.
The Ministry of Finance aims to issue VND200 trillion (US$8.78 billion) worth of Government bonds and develop green Government bonds in 2019.