Cross-border payments key to boosting riel, Cambodian governor says
QR payments set to expand to India and Japan, as central bank aims for independent monetary policy
Cross-border payments using Cambodia’s Bakong digital payments system are key to expanding use of the riel, National Bank of Cambodia governor Chea Serey said on May 24.
The cross-border function is a way “to promote the use of local currency”, as merchants open accounts and accept payments in riel, said Serey. Cambodia currently operates a dual-currency system with the US dollar dominant in the economy.
During an interview at the Nikkei’s Future of Asia conference in Tokyo, the governor said
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Fintech
Financial system needs to be ‘quantum-ready’ – BIS study
Working paper reviews benefits and risks of computing technology
BIS paper explores ‘ChatGPT for central banking’
Language models can analyse sentences but needs more work when it comes to complex content
Working group minutes: central banks weigh CBDC design choices
Central bankers discuss CBDC design elements, adoption rates and cross-border payments
‘No clear public interest case’ for retail CBDC, says RBA
Australian central bank believes wholesale digital currency has greater potential
EBA study calls for stablecoin reserves transparency
Authors say suspensions of withdrawals can prevent bankruptcy
Campos Neto on inflation targeting, independence and the future of financial intermediation
BCB governor discusses financial autonomy, open finance, programmable Pix and deposit tokenisation
Kyrgyzstan opens public consultation on laws governing CBDC
Amendments to legislation affecting digital som are due to come into force in 2027
Australian indigenous nation advances with digital currency
Birri Gubba dollar to be pegged to AUD and backed by assets including carbon credits