AKP Phnom Penh, March 28, 2025 --

In a rapidly changing financial landscape, Cambodia's banking sector is emerging as a beacon of trust and innovation. Through significant advancements in digital banking, stringent cybersecurity measures, and transparent regulatory frameworks, the nation is positioning itself as a leader in ethical banking practices.

Digital Banking Surge Enhances Financial Inclusion

Recent data from the National Bank of Cambodia (NBC) reveals a notable shift towards mobile banking.

In 2024, over 608 million transactions and payments, an increase of 334 percent from 2023, were made through the Bakong Payment System with the total value of 183 trillion KHR or US$457 billion, a 127 percent increase from 2023.

This trend underscores a growing consumer preference for accessible and user-friendly mobile platforms, reflecting its widespread adoption. NBC's Bakong System has been instrumental in this digital transformation.

By integrating e-wallets, mobile payments, and online banking into a single platform, Bakong has simplified transactions and broadened financial access, particularly in rural areas.

"Digital payments are transforming financial inclusion in Cambodia, especially for underserved communities. By using mobile banking and platforms like the Bakong system, we are making financial services more accessible, affordable, and secure—particularly for those in rural areas," said Ms. Dith Nita, Chairwoman of the Cambodia Microfinance Association (CMA). 

Strengthening Cybersecurity and Regulatory Transparency

To maintain financial stability amid rapid digitalisation, Cambodia's banking sector has prioritised cybersecurity and transparent regulatory practices.

The Association of Banks in Cambodia (ABC), together with the Cambodia Microfinance Association (CMA) has been proactive in promoting consumer protection, financial literacy, and industry-wide cybersecurity initiatives, thereby fostering a stable and resilient financial environment.

In a significant regulatory development, NBC has introduced a framework that uses blockchain technology, providing clear guidelines to encourage innovation in digital finance while safeguarding financial stability.

This move not only positions Cambodia as a responsible player in the global financial ecosystem but also attracts fintech firms seeking a regulated yet flexible environment for growth.

Commitment to Ethical Banking Practices

Cambodia's financial institutions are dedicated to ethical banking, emphasising responsible lending and financial inclusion.

The NBC-UN Multi-Stakeholder Consultation on Microfinance, held in January 2025, highlighted key reforms such as prohibiting the use of Indigenous Communal Land Titles (ICLTs) as collateral and establishing a Financial Consumer Centre under the ABC and the Cambodia Microfinance Association (CMA) to assist borrowers in financial distress.

These measures underscore the sector's commitment to ethical practices and consumer protection.

ABC Chairman Rath Sophoan said, “As responsible providers, we are committed to ensuring financial access while contributing positively to the well-being of the population, always upholding the principles of transparency, fairness, and social responsibility.”

A Model for Regional Banking Excellence

With secure digital platforms, clear regulatory frameworks, and a steadfast commitment to ethical practices, Cambodia's banking sector is setting a high standard in the region.

As global investors seek stability and transparency, Cambodia is proving itself as a reliable and innovative financial hub.

By balancing technological advancement with ethical banking, Cambodia's financial institutions are fostering long-term trust, ensuring the country remains a key player in Southeast Asia's financial landscape—ready for the future, yet firmly grounded in stability.

By Chea Vannak