Logo of Phnom Penh Post newspaper Phnom Penh Post - NBC releases Financial Stability Review to the public for the first time

NBC releases Financial Stability Review to the public for the first time

Content image - Phnom Penh Post
The National Bank of Cambodia (NBC) released its Financial Stability Review for the first time on Wednesday. Heng Chivoan

NBC releases Financial Stability Review to the public for the first time

The National Bank of Cambodia (NBC) released its Financial Stability Review for the first time on Wednesday, outlining the work needed to monitor economic security and develop macro-prudential measures to cope with systemic risks.

The Financial Stability Review has been produced by NBC since 2011 but only for internal use. The new review, comprising 38 pages, was produced with technical assistance from the International Monetary Fund (IMF).

Speaking at Wednesday’s launch, IMF resident representative for Cambodia Yong Sarah Zhou expressed her appreciation at the release of the review.

She said it is very comprehensive and provides high-quality analyses identifying risks in economic and financial systems.

“We know that Cambodia’s financial sector has been growing rapidly, becoming an increasingly complicated system,” she said.

“The publication of the report provides the platform to share the NBC’s will on economic and financial development to identify risks in economic and financial systems, and also to discuss possible policies to mitigate potential risks.”

The review was produced with a specific focus on three main factors – macro-economic conditions, stability and outlook; financial system conditions and assessments; and macro-financial linkages and potential risks to financial stability.

NBC deputy director-general of central banking Khou Vouthy on Wednesday said higher incomes and better access to financial services has led to an increase in credit to individuals, boosting investment and consumption.

He said close inspection into the composition of credit revealed a large proportion of it was meant for business purposes.

“Despite rapid growth, credit quality is not yet a cause for concern,” he said. “NBC will continue to closely monitor credit to individuals going forward.”

MOST VIEWED

  • Purging Sihanoukville’s past with a new masterplan

    Amid illicit activities, haphazard development and abandoned projects, the coastal city of Sihanouk province needs a reset to move forward. A new masterplan might be the answer to shake off its seemingly mucky image to become the Shenzhen of the south Gun toting, shootouts, police

  • Chinese may be first in tourism revival: PM

    Cambodia's tourism industry is gearing up to roll out the red carpet for Chinese travellers after Prime Minister Hun Sen on September 17 indicated that the Kingdom could soon throw open its doors to international holidaymakers vaccinated against Covid-19 – starting with guests from China. Cambodia Chinese

  • 'Pursue your goals, reach out to me': Young diplomat tapped as envoy to South Korea

    Chring Botum Rangsay was a secretary of state at the Ministry of Foreign Affairs and International Cooperation before being designated as the new Cambodian ambassador to South Korea. According to her official CV published on the foreign ministry’s website, she started her first government

  • Tourism concerns laid bare

    To ensure the success of plans to reopen the tourism market for international visitors, Cambodia must pay utmost attention to two primary determinants – the ongoing paradigm shift in domestic tourism services towards the ‘new normal’, and the factors influencing choices of destinations among foreign holidaymakers.

  • Covid jab drive for 6-11 age group to begin Sept 17

    Prime Minister Hun Sen has permitted Covid-19 vaccinations for over 1.8 million children aged 6-11 across the country from September 17 in order for them to return to school after a long hiatus. Hun Sen also hinted that vaccinations for the 3-6 age group will follow in

  • No ‘Crown Prince’ exists to buy France football club: ministry

    The Ministry of the Royal Palace has denied media reports that a Cambodian “Crown Prince” had purchased the AS Saint Etienne football club of France’s top-flight LIGUE 1 at the cost of €100 million ($117 million). In a press statement on September 19, the ministry stressed that Cambodia