News

Correspondent banking in retreat, but growing in Asia

While financial inclusion is a top priority for emerging economies, new research suggests more stringent enforcement of anti-money regulations in recent years has resulted in major Western banks disconnecting from these regions, leaving local businesses without access to the international financial system. Correspondent banking relationships, ...

Banking shows steady growth

Cambodia’s financial sector saw healthy growth last year with increased deposits and profits amid slower credit growth, reflecting sustainable development and increased public confidence in the sector, according to a recently released central bank report. According to the National Bank of Cambodia’s (NBC) annual supervisory ...

ANZ Royal approved to facilitate tax payments

ANZ Royal Bank has been authorised to facilitate payments owed to the General Department of Taxation (GDT) through its corporate tax payment service, a company release on Friday stated. The service will expand on the bank’s capability to deliver secure digital transactions and will be ...

Decline in transfers linked to rice prices

International fund transfers to Cambodia through Acleda Bank, which claims to handle a quarter of all inbound fund transfers to the country, decreased slightly last year as a result of lower rice prices, a bank executive said on January 8. In Channy, president and group ...

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