Cambodia's banking evolution: Trust and innovation at the forefront
With significant advancements in digital banking, robust cybersecurity measures, and transparent regulatory frameworks, the country is positioning itself as a leader in ethical banking practices.
In an era of rapid financial transformation, Cambodia’s banking sector is emerging as a model of trust and innovation. With significant advancements in digital banking, robust cybersecurity measures, and transparent regulatory frameworks, the country 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) highlights a remarkable shift toward mobile banking. In 2024, over 608 million transactions were processed through the Bakong Payment System, marking a staggering 334% increase from 2023. The total transaction value surged to 183 trillion KHR (approximately 457 billion USD), a 127% increase from the previous year. This shift underscores a growing consumer preference for accessible and user-friendly mobile platforms.
The NBC’s Bakong System has played a crucial role in this digital transformation. By integrating e-wallets, mobile payments, and online banking into a single platform, Bakong has simplified transactions and expanded 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 ensure financial stability in an increasingly digital landscape, Cambodia’s banking sector has prioritized cybersecurity and transparent regulatory practices. The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) have been proactive in promoting consumer protection, financial literacy, and industry-wide cybersecurity initiatives. These efforts help foster a stable and resilient financial environment.
In a key regulatory development, NBC has introduced a blockchain-based framework to encourage innovation while safeguarding financial stability. This initiative 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 growt
Commitment to ethical banking practices
Cambodian financial institutions are dedicated to ethical banking, with a focus on responsible lending and financial inclusion. The NBC-UN Multi-Stakeholder Consultation on Microfinance, held in January 2025, introduced key reforms, including prohibiting the use of Indigenous Communal Land Titles (ICLTs) as collateral and establishing a Financial Consumer Center under the ABC and CMA to assist borrowers in financial distress. These measures reinforce the sector’s commitment to ethical practices and consumer protection.
“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,” said ABC Chairman Rath Sophoan.
A model for regional banking excellence
With secure digital platforms, clear regulatory frameworks, and a steadfast commitment to ethical banking, Cambodia’s financial sector is setting a high standard in the region. As global investors seek stability and transparency, Cambodia is positioning 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 while maintaining a foundation of stability.
Digital Reinvention community
With Qorus memberships, you gain access to exclusive innovation best practices and tailored matchmaking opportunities with executives who share your challenges.