AKP Phnom Penh, February 03, 2025 --

The Ministry of Commerce and ABA Bank have formalised strategic cooperation to develop financial sector in Cambodia.

A memorandum of understanding on cooperation on a strategic partnership was signed here on Feb. 3 under the presidency of H.E. Buon Sarakmony, Secretary of State at the Ministry of Commerce with relevant leaders and officials of the Ministry of Commerce as well as leaders of ABA Bank in attendance.

This memorandum aims to promote and provide support in various forms of cooperation on strategic partnerships to contribute to the development of the financial technology sector in Cambodia to be more dynamic and aligned with national policies and trends.

The online payment for the Secured Transaction Filing Office (SETFO) was also introduced on the occasion.

The Ministry of Commerce has collaborated with ABA Bank to integrate online payment for the first time for the SETFO system, which aims to provide convenience, flexibility, and security for SETFO users to ensure the efficiency of the Ministry of Commerce in providing public services to citizens.

This collaboration will facilitate SETFO users in paying public service fees for using the system through their ABA Mobile App, without having to pay in person at the Ministry of Commerce.

By Chea Vannak