The Kingdom’s financial institutions have on the whole posted very solid business performance in the second quarter of the year, ended June 30, thanks to the strong recovery seen since the government adopted a “living with Covid” stance in November 2021, allowing socio-economic activity to resume in earnest.
The Cambodia Microfinance Association’s (CMA) warned that people who bought digital coins or invested in PAYEER wallets should cease immediately as it is “fraudulent”.
Members of Cambodia’s apex bodies of the banking and microfinance industries have agreed to ease restrictions on loan repayments, reduce interest rates, as well as restructure loans for customers deemed to be significantly affected by the heavy rains and floods that have swept the Kingdom in recent months.
Given the ongoing problem of inflation faced by the Kingdom’s economy, two economic researchers endorsed the move by the Cambodian Microfinance Association when it recently called on Cambodians to deposit cash they keep at home or as gold into savings accounts with microfinance institutions and banks to benefit from higher interest rates.