PHNOM PENH: Cambodian and Thai leaders met to strengthen cooperation on financial services, in particular payment systems to facilitate cross-border remittances and payments between the people of the two countries.

The Governor of the National Bank of Cambodia (NBC), Chea Serey, met with Thai Ambassador Cherdkiat Atthakor on October 4 to exchange views on new initiatives that will contribute to the growth of the two countries' banking and economic sectors.

During the meeting, Chea Serey said that the National Bank of Cambodia and the Central Bank of Thailand have cooperated well in the past by exchanging visits, sharing experiences on professional work, receiving scholarships for NBC officials to study higher education in Thailand and through the recent agreement on cross-border digital payments.

She noted that Thailand was the first country to have integrated cross-border payment and remittance systems with Cambodia, which has significantly contributed to supporting trade, investment and tourism in the two countries, as well as promoting the use of the national currency.

The governor added that the two central banks have been developing remittance systems for Cambodian workers working in Thailand to ensure safe, fast and low-cost transfers to families in Cambodia.

Chea Serey also mentioned plans to expand cooperation for the sharing of consumer credit information between Cambodia and Thailand to promote responsible and efficient lending. As the two countries’ financial sectors continue to develop rapidly, she is optimistic that their central banks will continue to expand more diversified cooperation in the future.

The Thai ambassador praised Chea Serey for her innovative initiatives while working at the NBC which he said strengthened Cambodia’s financial sector and promoted cooperation between their countries, especially in the field of finance. He expressed his support and readiness to strengthen cooperation between the two central banks.