Milan: H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC), presented Cambodia’s achievements in cross-border payment development during a high-level roundtable forum held in Milan, Italy, on May 6.
According to Agence Kampuchea Presse, the event, titled ‘Cross-border Payment Rails: From Infrastructure Roll-Out to a Smooth Customer Journey,’ was co-hosted by the Asian Development Bank (ADB), the Bank of Italy, and the Bank for International Settlements (BIS). Opening remarks were delivered by ADB President Masato Kanda and Bank of Italy Governor Fabio Panetta, with closing remarks by Bank of Korea Governor Chang Yong Rhee.
In her remarks, Dr. Chea Serey shared insights into Cambodia’s efforts to build a robust payment infrastructure and expand connectivity with regional partners and global payment service providers. She noted that the country’s cross-border payment advancements have received recognition both nationally and internationally.
According to Dr. Serey, the development of Cambodia’s payment system has significantly improved access to financial services, particularly in rural and underserved areas. This progress has contributed to reducing transaction costs and risks while enhancing the speed, security, and efficiency of payments.
She further emphasised that the system has played a key role in promoting the use of the national currency by facilitating seamless transactions with countries connected through Cambodia’s cross-border payment networks.