Central Bank spent $6 million to stabilize riel value
In a bid to stop dropping the devaluation of Cambodia’s national currency, the National Bank of Cambodia (NBC) sold US$6 million to make the value of the riel stable and wanted to retain riel value at about 4,000 riel to every dollar.
The National Bank of Cambodia is the Central Bank which is an autonomous public [...]
Draft law on financial lease passed
On Wednesday, May 27, 2009, the National Assembly passed unanimously the draft law on financial lease that is allow banks to issue leases for equipment, machinery and vehicles to business and enterprises in the wake of the global financial crisis. This law does not apply to land or real estate.
Chea Chanto, governor of the National [...]
ADB granted $59.4 m in loans to Cambodia
In response to fight against the global financial crisis, the amount of $59.4 million in concessional loans has been granted to Cambodia by Asian Development Bank (ADB).
The money has been made available through the bank’s Asian Development Fund (ADF), which received a $400 million boost Tuesday as part of a much broader $3.4 billion fiscal [...]
Lending loan available for American businessmen
Despite the global financial crisis, US president Barak Obama issued a new release on June 13, 2009 from Washington D.C to decide to make business loan available for American investors who are making investment in Cambodia. It is expected that this decision is to encourage more private companies from America to ask for commercial loans [...]