Im recently arrived in Cambodia and my money is all in the big Cambodian banks in usd. Im pretty clueless about financial stuff but see stock markets plunging etc. Im wondering with all this economic disruption caused by the virus if there will be any danger to the banks here. are my dollars safe ?? or should i be thinking of getting them back home ?

Safe in the big ones - for added sleep comfort put it in one of the multinationals like Hong Leong, J-Trust, CIMB, Maybank, etc.

[edit: authority to speak on the subject based on 12 years working in banks here, attending National Bank of Cambodia meetings, etc.]
[edit2: if the milk turns sour ...]

Putting all your eggs in one basket is never a good idea, even in Cambodia....

Spigzy wrote: ↑Tue Mar 03, 2020 3:20 pm Safe in the big ones - for added sleep comfort put it in one of the multinationals like Hong Leong, J-Trust, CIMB, Maybank, etc.

[edit: authority to speak on the subject based on 12 years working in banks here, attending National Bank of Cambodia meetings, etc.]
[edit2: if the milk turns sour ...]

What's your opinion on AMK? They seem financially sound.

AMK are Majority owned by Chinese.

Kammekor wrote: ↑Tue Mar 03, 2020 3:36 pm Putting all your eggs in one basket is never a good idea, even in Cambodia....

Totally agree. Though I dont totally practice what I preach as most of mine is in gold. Gold is so high that you can walk around with several thousand USD just in your jeans pockets. So high in fact that they are pricing it in milligrams alongside the more familiar grams and troy ounces! And it is recognized everywhere as good as gold while a Cambobian bank wouldnt even accept a stash of Mexican Pesos that I totally forgot about and discovered while looking for something else.

Gold also has the advantage that it will never be destroyed in a fire. If you must carry around paper money, my guru on the subject Harold is bullish on the Vietnamese Dong, so have a big stash of those, and the Iraqi Dinar, so have an even bigger stash of those, alongside the more familiar USD and KHR.

Spigzy wrote: ↑Tue Mar 03, 2020 3:20 pm Safe in the big ones - for added sleep comfort put it in one of the multinationals like Hong Leong, J-Trust, CIMB, Maybank, etc.

[edit: authority to speak on the subject based on 12 years working in banks here, attending National Bank of Cambodia meetings, etc.]
[edit2: if the milk turns sour ...]

Yes. Putting money in malay or chines owned banks is obviously safer as they have so much scamming experience they should never get caught
ACLEDA - safe
ABA - safe
Canadia - Safe
Prasac - safe and still offering good interest.\
Personally iw ould not touch any malay or chinese owned banke with my ex wifes money, let alone mine