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NBC, BoL say keen to step up cooperation

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National Bank of Cambodia (NBC) governor Chea Chanto (right) and his Bank of the Lao PDR (BoL) counterpart Sonexay Sitphaxay meet in person on Thursday. NBC

NBC, BoL say keen to step up cooperation

The National Bank of Cambodia (NBC) and the Bank of the Lao PDR (BoL) have expressed their willingness to step up cooperation on the development of innovative payment systems and the improvement of cross-border connectivity from next year.

The statement was made during a meeting between Cambodian central bank governor Chea Chanto and his Lao counterpart Sonexay Sitphaxay on December 16.

During the meeting, the two sides exchanged views and set out tasks to boost cooperation next year, covering fields such as the development of payment and other innovative systems, support for cross-border connectivity, monitoring operations, experience sharing and money printing.

Chanto thanked Sonexay for attending the meeting in person and always supporting bilateral cooperation between the two central banks.

He also mentioned that the presence of Cambodian banking institutions in Laos has significantly contributed to strengthening investment between the two countries.

Sonexay praised the NBC’s Covid-19-related relief measures, which he said were effective in maintaining progress and stability in the banking system, a stable currency exchange rate, and low levels of inflation.

Two Cambodian commercial banks – Acleda Bank Plc and Canadia Bank Plc – currently operate in Laos, while one Lao commercial bank is present in Cambodia.

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