I have had term deposit accounts at AMK for over 4 years. They reduced savings interest rates almost around 2016 or 18, from 11 to 7.4 annually due to the government prakas on loan interest ceilings... Same as other MFIs... I have had no problems and good communications with local and HQ. Their profit isn't astronomical according to annual reports, but claim to be in the black, anyway... I think most MFIs are safe for the moment. Just remember to make sure if you sign up to an MFI contract, you ensure that your contracted interest savings is at a fixed rate. Not floating, as savings rates would be more likely to go down than up, obviously, in coming months. However, in my case, I was still able to collect 11% at AMK for over 18 months after the prakas reduced the official rate simply because I'd had contracted a three-year term a year or so prior, lol...
A lot of people think that banks in the West are stronger. Why? China recorded growth this year, over 3 percent. Everywhere else things slowed down A LOT... Borders are closing between European nations to contain the new virus strains, which will further pot a lot of European states, affecting Czeck and Austria, with ripple effects into Germany... So, I have no advice to give about where to place your money. Up to you...
Besides problems in the U.K., Europe, Canada, Australia, just remember, only if the United States banks suffered a major debt meltdown, would you see repercussions globally, with many currencies perhaps losing value against the newly deceased dollar: that is a paradox driven by the fact that so many nations have invested in U.S. debts (bonds) etc... Cambodia has little or no investment in American financial instruments. China does, however. Meltdown in the states would result in less Chinese activity here. The Riel currency would lose value, but maybe not so much as other major currencies. Cambodia has a very low domestic national product. The local currency, the Riel, is obviously a low circulation currency and not international at all, especially relative to the Euro, the Renminbi along with the Yen and other big currencies: the point is that the Riel does not play any role in currency manipulators' investment portfolios (unlike the Australian and Canadian dollar, especially, which have always been basically the pawns of big investment institutions centered in London and NYC.) Perhaps because of its insignificance the Riel has held its own against the dollar much more robustly than both the Canadian and Australian dollar.
I think because of all the new debts ballooning across the Western world to fund the dole for so many unemployed people with high rents, etc, you will continue to see stock markets and funny electronic currencies like Bitcoin becoming more attractive. But when stock markets and electronic currencies begin to resemble casinos -- that is not a good sign. Money investments of this type, especially Bitcoin can only benefit those with a lot of spare cash. So many moms and pops in Korea and students, etc, lost their shirts with Bitcoin a few years back. Now that the big investors have stepped in, it will get more yo-yo like. Dangerous investments in things like futures options have always been the preserve of the super-rich and investment banking institutions. The recent drive on Reddit to influence futures is a relatively small blip. The rest of the ordinary people around the world, for now, are going to suffer more and grow more poor and starve more... I think it would be nice to have Elon Musk for dinner. Do you think he would taste better broiled or boiled?
Up to you. Money will never be alive. But you are alive... So, don't worry about it too much...
$50,000 Term Deposit Cambodian Banks.
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