Phnom Penh Commercial Bank (PPCB), which is a commercial bank, has started its banking operations on 1st September 2008. PPCB is a fully licensed commercial bank and its scope of business is to include general commercial banking business, such as deposit taking, loan, L/C and guarantee issuance, FX, underwriting of securities, trading of gold, etc. [...]
Corporations or governments that make the decision to sell ownership in their company through an initial public offering generally engage the services of an investment bank to assist in structuring the transaction and to raise capital.
A financial instrument that will help to formalise interbank lending in Cambodia is set to launch “very soon”, the central bank has said. Interbank markets, where institutions borrow and lend to each other largely to either maintain required reserves or profit from an excess of them, are common in most developed economies.
The International Business Chamber of Cambodia has elected its executive committee for the 2011 and 2012, according to a press release. Prominent lawyer Bretton Sciaroni has been re-elected chairman
Mobitel is in talks with Union Commercial Bank to process its customers’ mobile phone money transactions in order to meet legal requirements from the National Bank of Cambodia. Mobitel controversially launched its Cellcard Cash money transfer scheme last September without applying for oversight or linking with a bank for payment processing, as stipulated in an NBC edict.
CAMBODIA Development Specialized Bank, a joint-venture between Cambodian and South Korean investors, has shut down after being unable to comply with a new minimum capital requirement, officials said.
ACLEDA Bank’s Unity mobile banking service has signed up more than 23,000 users since launching in July last year.
One recent afternoon, farmer Hem Preoung was discussing what to do about a small wooden barn full of paddy rice with a group of other farmers. The 62-year-old farmer is a member of the Preah Theat village farm association, in Kandal province’s Kandal Stung district. For the past five years, she has kept 15 kilograms of harvested paddy rice in the small barn as a kind of bank.
Estimates point to 20 percent industry growth Updated
THE International Monetary Fund has warned Cambodia’s export reliance on the United States and European markets is a “significant risk” to the Kingdom’s continued financial recovery. While the IMF was upbeat in its yearly economic assessment of the Kingdom about a turnaround in growth since 2009, saying an export-led recovery was underway, it cautioned that [...]