Bancassurance, or the offering of insurance products through financial institutions and banks, is expected to play an ever-increasing role in the emerging insurance sector in Cambodia, according to a group of financial executives who met virtually on Thursday. The Association of Banks in Cambodia (ABC), the Cambodia Microfinance Association (CMA) and the Insurance Association of […]
Read MoreThe value of foreign direct investment (FDI) into the Kingdom registered a slight fall in 2020 amid a much sharper contraction among non-banking sectors and uncertainty over the evolution of the Covid-19 pandemic, but inflows into the financial sector remained strong. Total FDI inflows – mainly to the financial, construction and real estate, and manufacturing […]
Read MoreWith Cambodia introducing a new online commerce tax on sales of digital products and services made by international tech firms, experts warn that consumers and small online businesses might be the ones who bear the brunt. Cambodia will require tech companies without a physical presence in the country to pay a 10% value-added tax (VAT) […]
Read MoreVisa, the global leader in digital payments, has today released findings from its latest Visa Consumer Payment Attitudes study, with 44 percent of Cambodians saying they are carrying less cash now than before the start of the pandemic. According to Visa’s data, contactless payments are growing in popularity in Cambodia with two in every three […]
Read MoreThe banking sector remained resilient in 2020 despite the wider negative economic impacts of Covid-19, according to the National Bank of Cambodia’s (NBC’s) Financial Stability Review 2020. Total bank assets in Cambodia amounted to $50.5 billion, an increase of 17.6 percent from 2019. Customer credits reached 140 percent of gross domestic product (GDP), achieving a […]
Read MoreWith the tourism economy in crisis as Siem Reap International Airport reported that it had exactly two international tourist arrivals in the first quarter, a top official from the Ministry of Economy and Finance said he anticipates borders to open soon – bringing much-needed support to a beleaguered business community struggling with challenges beyond their […]
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