Photo by: Wesley Monts A motodop driver parks in front of the National Bank of Cambodia on Norodom Boulevard, Phnom Penh, today. The International Monetary Fund has claimed the oversight responsibilities of Cambodia’s central bank “clearly outstrips its capacity and resources” and believes it should consider a temporary halt on licensing new banks.
The National Bank of Cambodia (NBC) gave in-principal approval to the Bank of China to open its business in Cambodia in June 2010. Yesterday, it is the first time that branch of Bank of China opened its business operation and customers can open bank accounts at the bank. The office of Branch of Bank of [...]
Malayan Banking Bhd- Maybank – opened its ninth branch in Sihanoukville last week and it is the third branch located outside of Phnom Penh in order to expand customer reach and tap the growing economic potential in Cambodia. Other two branches outside of the capital are located in Siem Reap province, which is the tourism [...]
In order to protect of the depreciation of value of Cambodia’s currency and stabilize the Cambodia’s macroeconomics, the National Bank of Cambodia has tried to raise the value of Riel by purchasing a further US$5 million. The total of amount of dollars the central bank purchased reached US$48 million for the year. Since mid-April, Cambodia’s [...]
A leading Commercial bank – Canadia Bank – signed agreement with the National Social Security Fund for Civil Servants (NSSFCS) yesterday in Phnom Penh in order to manage a pension and social security fund to Cambodian civil servants. Initially, offering fund is for civil servants in Phnom Penh and it will be available through the [...]
The National Bank of Cambodia (NBC) gave in-principle approval to the Bank of China (BOC) to operate its first branch in Phnom Penh. The Bank of China would come to facilitate trade and investment between Cambodia and China. This year, NBC approved three foreign banks to operate in Cambodia, including the Bank of Agriculture and [...]
It is the third time that the National Bank of Cambodia (NBC) sold off US$ 1 million to stabilize the depreciation of national currency (Riel) according to a statement on Monday, signed by Nguon Sokha, Deputy Director General of National Bank of Cambodia. A total of US$ 3 million was to be auctioned off to [...]