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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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Customers wait for financial services at an Prasac branch in Kampong Speu province. File Photo
Hong Menea
Microfinance body calls for more lending
Wed, 28 April 2021
Cambodia Microfinance Association (CMA) on April 27 urged its members to release more credit to customers as the spread of Covid-19, exacerbated by the February 20 community transmission is having a huge impact on all businesses, especially in Phnom Penh and Takmao town.
Speaking at the Credit Restructuring event held virtually, CMA Communications Department director Kaing Tongngy said the additional credit would help people and reduce lending rates.
He added that “the mechanism for promoting credit restructuring” would also be encouraged during and after the latest outbreak, stressing that all businesses need the additional capital.