Logo of Phnom Penh Post newspaper Phnom Penh Post - New Briefs: MBf Bank on the Ground in Phnom Penh




New Briefs: MBf Bank on the Ground in Phnom Penh

New Briefs: MBf Bank on the Ground in Phnom Penh

The MBf Asia Capital Corporation of Hong Kong has stepped forward to open an affiliate

bank-the MBf Asia Capital Bank Ltd. in Phnom Penh on Dec. 15.

"This is a private, full-service commercial bank," said Joseph Arul Raj,

the Malaysian manager of MBf Asia Capital Bank Ltd.

The initial level of capitalization was not made public, but the manager said he

was satisfied with the requirements of the National Bank of Cambodia.

"Cambodia is a good market because of its triangle locality. It is a good center

for business," said Raj.

The fully-computerized MBf Asia Capital Bank Ltd. provides foreign exchange services

(in U.S. dollars and riel), fixed deposits and currency account services. The interest

rate for U.S. $ savings accounts is 2.5 percent a year.

Regardless of the political situation in the country, the bank is looking forward

to providing credit facilities to customers who have "repaying capacity,"

he said.

MBf Asia Capital Bank is located at 45 Sivutha St., Sangkat Chaktomuk, Khan Daun,

Phnom Penh.

MOST VIEWED

  • Thousands attend CNRP-organised pro-democracy vigil in South Korea

    Thousands of supporters of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP) on Saturday gathered in the South Korean city of Gwangju to hold a candlelight demonstration calling for the “liberation” of democracy in Cambodia. Yim Sinorn, a CNRP member in South Korea, said on

  • US Embassy: Chinese trade does not help like the West’s

    The US Embassy in Phnom Penh on Friday said relations between China and Cambodia did not create jobs or help industry when compared to the trade between the Kingdom and the US. “About 87 per cent of trade [with China] are Chinese imports, which do not

  • Vietnamese land-grabbers held

    Following a provincial court order, Ratanakkiri Military Police on April 16 arrested 12 Vietnamese nationals accused of crossing the border into Cambodia and illegally clearing forest land. The accused are now being detained at Phnom Svay prison in the province. Ratanakkiri military police commander Thav Yen told

  • Eight people sent to court over violent protest

    Preah Sihanouk provincial authorities on Sunday sent eight people to court for blocking National Road 4 and using violence against authorities in a land dispute in Prey Nop district’s Bit Traing commune. Four police officers and two commune security guards sustained injuries when the protesters