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Cambodia’s banking system reported higher earnings despite the pandemic as strong fundamentals sustain growth In late March, a momentum for loan restructuring slowly built up, culminating in some 16,000 microfinance loans approved for revision within two weeks in May, when only 2,000 to 4,000 applications are commonly recorded monthly.
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Mon, 24 May 2021
The National Bank of Cambodia (NBC) on May 24 launched a new campaign to encourage a shift to digital banking channels, reducing the need for person-to-person transactions and limit the potential risk of Covid-19 transmission.
With its mandate to promote financial inclusion throughout the Kingdom, the NBC has been stalwart in its backing of digital and electronic payment services.
Using the slogan “Go online and go cashless to beat Covid-19!”, the central bank urges customers and retailers to adopt e-wallets and applications such as Bakong to curb the spread of the novel coronavirus.
According to the NBC, more than 59 per cent of Cambodians currently conduct payment transactions online.
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