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NBC will examine using platform for digital identity verification

The National Bank of Cambodia (NBC) and the Techo Startup Centre of the Ministry of Economy and Finance (MoEF), have signed a memorandum of understanding (MoU) on ‘cooperation of electronic know your customer (e-KYC) framework, under the presidency of Dr. Chea Serey, Assistant Governor and Director General of Central Banking, and Dr. Kong Marry, undersecretary of state of the MoEF and chairman of the inter-ministerial working group in charge of e-KYC framework.

NBC and the MoEF will collaborate through this MOU to assess the feasibility of using CamDX, a public data-sharing platform, for digital identity verification.

NBC performs three key roles in ensuring the safety and efficiency of the payment system. The NBC provides banking services to the government and commercial banks by offering accounts on behalf of state agencies and central government instrumentalities, notably the national treasury.

NBC also establishes a clearing center to ensure the timely and efficient clearing and settlement of interbank payments. It collaborates on the development of the payment system with international development partners and local stakeholders, particularly the banking sector.

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