Economy and commerce
Banking and financial services
Exporters ask for exchange solution
Yangon business leaders have joined a call for the new government to address exchange rate regulations, which they say are causing difficulties for exporters trying to convert their earnings back into Myanmar kyat. The problem is that the Central Bank only allows lenders to conduct foreign ...
Slow pace of China’s transition adds to Asian export woes
China’s economic rebalancing is likely to take longer than previously expected, leaving Asian exports. Speaking on 14 June at a KBank seminar for customers on the outlook for the economy, interest rates and foreign-exchange rates, Pareena Phuangsiri, senior specialist at the division, said that while Beijing’s attempt ...
Wing, GmoneyTrans ink partnership deal
A South Korean phone-based money transfer company has partnered with Wing Specialized Bank to tap into remittance services for Cambodians living and working abroad. GmoneyTrans signed a cooperative agreement yesterday with Wing and hopes to launch the remittance service by the middle of next month, according ...
VN Central Bank’s $12 billion worth of US govt bonds not a surprise
Indonesia, Thailand and Malaysia, with forex reserves many times bigger than Vietnam’s, only invest 10 percent of reserves on US government bonds. Meanwhile, the proportion is 30 percent for Vietnam. Singapore invests $109 billion on similar items, while the Philippines has poured $41 billion into the ...
IMF urges Thailand rate cuts that central bank says not needed
The International Monetary Fund called on policy makers in Thailand to cut interest rates in the face of a sluggish economy and low inflation, an approach that the central bank says isn’t necessary. Thailand needs expansionary fiscal and monetary policies to help spur an economy that’s ...
Phillip Bank launches collateral-free credit
Singapore-based Phillip Bank announced on 2 June that Cambodian borrowers that can prove a consistent monthly income will be able to access lines of credit without putting down collateral. The bank, which recently formed a lending partnership with New Union (Cambodia), a branch of a Singaporean credit ...
Part suppliers ask for more funding
A shortage of capital support for the part supplying industry is hindering the development of the sector, which is crucial for the country’s economic development, participants at a forum said. Financial expert Cấn Văn Lực said funds that supported small- and medium-sized enterprises, science and technology ...
Central bank to relax rules, diversify risks
The Thai central bank will relax rules governing investment in products linked to foreign exchanges and transferring money internationally via mobile phones at the end of this month. Keep reading ...
State, private and foreign banks to compete for SOE clients
Myanmar’s financial regulator has ended state-owned banks’ monopoly on providing foreign currency accounts for state-owned firms, opening a new market to private lenders – both local and international – that could potentially bring vast amounts of public money into the wider banking system. Keep reading ...
National bank ups cash reserve requirements
The National Bank of Cambodia has doubled the minimum capital requirements for commercial banks and significantly raised the requirements for microfinance institutions in a move experts say will protect and consolidate the country’s banking sector. Capital requirements are used by central banks worldwide to ensure ...
