The National Bank of Cambodia (NBC) and the International Finance Corporation (IFC) will join forces on the “Cambodia Supply Chain Finance Market Development” project and expand financial access for the Kingdom’s small and medium-sized enterprises (SME).
The income-tax preparation process is set to get a whole lot easier with the General Department of Taxation’s (GDT) electronic filing system that is scheduled to go online next month.
A general Department of Taxation (GDT) official on February 22 listed some of the assets that would be exempt from capital gains tax once it comes into force in January 1, 2022 and shed light on some of the finer subtleties of the tax.
The National Bank of Cambodia (NBC) called for all banks and microfinance institutions (MFI) to postpone dividend payouts to shareholders for 2020 in a move to safeguard the growth, stability and certainty of the sector against economic disruptions caused by the Covid-19 pandemic.
Financial industry players were on cloud nine after the National Bank of Cambodia (NBC) announced it would keep the current seven per cent reserve requirement ratio (RRR) until June 30 to ensure liquidity in the sector to fund more loans and to crank up economic activity.
The Ministry of Economy and Finance’s General Department of Taxation (GDT) collected 879.68 billion riel ($217.2 million) in tax revenue last month, down 77.08 billion riel or 8.06 per cent compared to 2020, it said in a February 15 press release.
Visa, the world’s leader in digital payments, and Wing (Cambodia) Limited Specialised Bank on Thursday partnered to introduce the ‘Wing Virtual Visa Card’, an online payment card for all users of Wing’s mobile payment application.
ACLEDA MFI Myanmar Co Ltd, a wholly-owned subsidiary of Cambodia’s ACLEDA Bank Plc, continues to operate as normal even as the country declares a year-long state of emergency, ACLEDA Bank president and group managing director In Channy told The Post.
CAMBODIA’s financial sector will not face a shortage of cash to lend to local enterprises and accelerate business anytime soon, according to Association of Banks in Cambodia (ABC) president In Channy.
South Korean-owned Phnom Penh Commercial Bank Plc (PPCBank) and Prudential (Cambodia) Life Assurance Plc on February 1 struck a bancassurance partnership to provide additional options in financial products to the Kingdom’s consumers.