ABA Bank signs MoU with the Ministry of Economy and Finance to foster FinTech development in Cambodia

By Leandra Monteiro

ABA​ Bank,​ one of the largest​ commercial​ banks​ in Cambodia and​ a​ major​ provider​ of​ modern​ banking​ solutions,​ signed​ a​ Memorandum​ of​ Understanding​ (MoU)​ with​ the​ Ministry​ of​ Economy​ and​ Finance​ on​ cooperation​ within​ the​ digital​ economy​ and​ FinTech​ development​ framework​ in​ Cambodia.​

Both​ parties​ will​ work​ together​ to​ promote​ and​ support​ various​ forms​ of​ cooperation​ contributing​ to​ the​ development​ of​ the​ FinTech​ sector​ in​ Cambodia​ in​ line​ with​ the​ national​ principles​ and​ global​ trends.

Askhat Azhikhanov, Chief Executive Officer, ABA Bank ​said,​ “We​ are​ privileged​ to​ partner​ with​ the​ Ministry​ of​ Economy​ and​ Finance​ toward​ the​ common​ goal​ of​ fostering​ an​ innovative​ and​ dynamic​ digital​ economy​ in​ the​ country. ABA​ has​ always​ been​ committed​ to​ leveraging​ technology​ and​ innovation​ to​ deliver​ value-added​ and​ efficient​ financial​ solutions​ to​ the​ customers.​ We​ firmly​ believe​ that​ collaborating​ with​ the​ Ministry​ of​ Economy​ and​ Finance​ will​ enable​ us​ to​ create​ more​ opportunities​ for​ our​ customers​ and​ accelerate​ progress​ in​ the​ overall​ fintech​ ecosystem.”

Following​ the​ MoU,​ ABA​ Bank​ confirms​ its​ commitment​ to​ support​ and​ implement​ the​ programs​ in​FinTech​ and​ digital​ economy​ fields​ following​ the​ Digital​ Economy​ and​ Society​ Policy​ Framework​ 2021-2035​ and​ Digital​ Government​ Policy​ 2022-2035.​ The​ Bank​ will​ also​ participate​ in​ using​ and​ providing​ access​ to​ IT​ products​ such​ as​ the​ e-Invoicing​ system,​ the​ CamDX​ platform,​ and​ the​ CamDigiKey​ customer​ identification​ system.

As​ part​ of​ the​ collaboration,​ ABA​ Bank​ officially​ became​ a​ member​ of​ Cambodia​ Data​ eXchange​ (CamDX),​ a​ decentralized​ data​ exchange​ platform​ to​ provide​ online​ services​ to​ private​ and​ public​ organizations.