MoU on Cooperation to Promote Financial Technology System in Cambodia Signed
AKP Phnom Penh, September 29, 2020 —
Techo Startup Centre (TSC), under the Ministry of Economy and Finance and the Association of Banks in Cambodia (ABC) signed here yesterday a memorandum of understanding (MoU) on cooperation to promote financial technology system in Cambodia.
The MoU was signed by H.E. Kong Marry, Under Secretary of State at the Ministry of Economy and Finance and TSC’s Chairman and Mr. In Channy, Chairman of ABC.
The MoU aims to promote financial inclusion and expand the scope of work in startups and financial technology (FinTech) sectors in support of Cambodia’s digital economy.
The MoU enables ABC to work with TSC to participate in the Fourth Industrial Revolution in Cambodia’s digital economy plan through supporting, strengthening and expanding new startups.
The potential of this new technology will become an important lever in the socio-economic development of the digital economy.
The development of FinTech plays an important role in building the digital economy as a whole and, in particular, promoting financial inclusion, according to a press release issued on Sept. 28.
The digital economy policy draft addresses the need to set up a national payment system, a part of financial technology, to drive the development of e-commerce, last-mile delivery and other online services.
(Photo: Suo Savy)
By Chea Vannak