National Payments System to Begin in 2012
The National Bank of Cambodia (NBC) will soon begin a national payment system that will allow the clearance of checks at all banks within a day, as well as facilitate intra-bank electronic payments, Nguon Sokha, director general of the NBC, said yesterday. Through the establishment of the national payment system, which will begin by the end of the year, the NBC will act as a clearinghouse for the payment of checks, money orders and inter-bank transfers, Ms. Sokha said. … The new system will also allow banks to process payments in all major currencies, replacing the current system that only allows for payments to be made in U.S. dollars and riel. …
