Cambodian Public Bank announces a new product to encourage children to save in riel.
The Kingdom’s dollarised economy thus far has not hindered overall economic growth and the development of the financial sector, as proven in the findings of surveys by the National Bank of Cambodia (NBC) and the Japan International Cooperation Agency (JICA).
Private sector financial institutions have urged the government to rein in some banks and microfinance institutions which are still promoting the US dollar instead of riel in rural areas while the majority are pushing for more use of the national currency in the Kingdom.
39th Anniversary on the Reintroduction of the Riel
Banks in the Kingdom are slowly making their way to including more riel loans in their portfolios by the end of this year.
RHB Indochina Bank Ltd is optimistic about achieving the 10 percent riel loan denomination by the end of the year as the bank rolls out campaigns in order to encourage more people to apply for loans in the local currency including making riel deposits
A MoU with the Bank of Thailand to cooperate in a QR code payment system.
The Interior Ministry’s General Department of Identification has transferred an official to the Passport Department for disciplinary reasons – she allegedly refused to accept Cambodian riel banknotes as fee payment.
The National Bank of Cambodia issues a new 20,000 riel note.
The National Bank will release about 120 billion riel to bid in the 19th liquidity-provided collateralised operation.
Commercial banks and microfinance institutions have acquired more than 209 billion riel in riel liquidity, worth $52.4 million.
The National Bank of Cambodia on March 20 hosted an event, at the Cambodia Korea Cooperation Center (CKCC), to celebrate the 38th anniversary of the re-introduction of the riel.
Celebrating the Riel Day 38th Reintroduction of the Riel
Cambodia’s national bank works with Thailand and Vietnam to use riel in cross-border trade.
The National Bank of Cambodia and the People’s Bank of China urge investors and traders to use the yuan and the riel in transactions involving both nations.
Cambodia’s first draft national strategy promoting the riel to be finalised and sent to the Ministry of Economy and Finance.