Cambodia, Malaysia Operate CrossBorder Money Transfer and Payment System

Cambodia and Malaysia have agreed to operate an immediate crossborder money transfer and payment system, according to local media report.

The agreement was signed by H.E. Mrs. Chea Serey, NBC's Director General and Mr. Dato' Mohd Hanif Suadi, Chief Executive Officer of Maybank (Cambodia) Plc. here in Phnom Penh recently.

That service is made through NBC's Bakong system and Maybank2U Digital Platform of Maybank, Mr. Dato' Mohd Hanif Suadi said, continuing that the operation will upgrade service provision to clients, as well as promote inclusive finance in response to the development toward the digitalisation in Cambodia.

H.E. Mrs. Chea Serey underlined that the service will play a key role not only in facilitating any payments with low pricing of the people, especially Cambodians, but also in contributing essentially to enhancing the country's financial sector and improving the people's living condition.

Source: Agency Kampuchea Press