Cambodia’s money supply hit $39 billion last year

Despite Covid-19 last year, we have seen deposits increase further. This means that there are many Cambodians who had a budget which they kept not using because apparently the impacts of Covid-19, they suspended their activities or they have not yet started a new investment. , says Kea Borann, President of CMA


Money supply (MS) reached $39 billion last year, a year-on-year increase of 16.3 percent, according to a National Bank of Cambodia report released yesterday. The main components of Member States are currency outside depositary institutions, transferable deposits and other deposits.

Currency outside depository companies was valued at $3.6 billion, up 8.3% year-on-year, while transferable deposits rose 18.9% year-on-year to 7.4 billions of dollars, the report reads.

Other deposits, the BNC noted, reached $28 billion, an increase of 16.7% over the previous year.

Kea Borann, President of the Cambodian Microfinance Association (CMA) and CEO of AMK Microfinance, said: “Despite the Covid-19 last year, we saw that deposits continued to increase. This means that there are many Cambodians who had a budget that they kept not using because apparently the impacts of Covid-19, they suspended business operations or they have not started new ones yet. investments,” Borann said.

On December 6, 2021, the National Bank of Cambodia announced that it would stop issuing new licenses and there are currently six deposit-taking microfinance institutions that the BNC has encouraged investors and microfinance institutions to merge.

The six deposit-taking microfinance institutions are PRASAC Microfinance Institution, AMK Microfinance Institution Plc, WB, Amret, LOLC and Mohanakor Microfinance Institution according to National Bank’s list of deposit-taking microfinance institutions as of September 2021. According to Borann, AMK Microfinance the amount posted deposit increased by more than 30% last year to reach $250.

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