Fixed Terms Deposits in Cambodia - recommendations?

[Oorinara]

Yes, you can see the list of microfinance deposit taking institutions by the regulator, central bank, hereby

http://www.nbc.org.kh/english/supervision/microfinance_deposit_taking_institutions.php

[Oorinara]

Central bank's list of microfinance deposit takers misses this institution. Unsure why - presumably newly licensed?

http://www.cmk.com.kh/

[boomerangutang]

To transfer funds from a Thai bank account to a newly opened Cambodian bank account, what recommendations? How to sensibly do it?

For example: Bt.200k

[MJCM]

To transfer funds from a Thai bank account to a newly opened Cambodian bank account, what recommendations? How to sensibly do it?

For example: Bt.200k

First can you transfer money out via your account in Thailand? Ask your bank first as receiving money no problem, but transferring out (sometimes lots of) problems.

2nd Gather info from Cambodian Bank, their swift code and if you need to add additional info, like bank branch etc etc and also important if they require an intermediate bank for incoming swift transfers.

3rd do a test transfer (50-100 USD worth) and see if it arrives. I have no idea if you can have ibanking with the Cambodian bank.

If this is all to difficult take it with you in cash.

Good luck

[Oorinara]

Hattha Kaksekar, a deposit taking microfinance institution, is recently bought by Thai Krungsri (Bank of Ayudhya), a subsidiary of Japan's largest Bank of Tokyo Mitsubishi UFJ, and still provides high interest in USD and THB. THB accounts are available only in branches near Thai border though.
http://www.hkl.com.kh/


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[Oorinara]

As for THB term deposit in Cambodia, LOLC seems to offer the highest interest rate of 10% and 10.5% for, respectively, 1 and 2 years. LOLC microfinance has upgraded its license to take deposit since 2015.
http://www.lolc.com.kh/eng/Deposit.aspx


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[Oorinara]

LOLC, offering THB interest rate of up to 10.5% p.a., is majority shareholded by Japanese Orix's Sri Lankan subsidiary
http://www.lolc.com.kh/eng/share_holders.aspx


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[Oorinara]

LOLC's THB accounts are available only in branches near Thai border. Not in Phnom Penh headquarters even.


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[Oorinara]

Kredit Microfinance offers interest rate of up to 8.5% p.a. in USD and it seems to be the highest among microfinances.
https://www.kredit.com.kh/en/


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[Oorinara]

Lending interest rates of Microfinance institutions are soon capped up to 18%. This newly introduced cap shall have adverse effects on their deposit rates, and financial stability too.
http://m.phnompenhpost.com/national/mfi-loan-interest-capped


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