Cambodia’s Central Bank Chief Calls for Regional Payment Integration to Empower MSMEs

KUALA LUMPUR, Malaysia (Oct.27, 2025) — Cambodia’s central bank governor Dr.Chea Serey has called for deeper regional payment connectivity to empower micro, small and medium enterprises (MSMEs) across ASEAN, citing Cambodia’s own digital finance reforms as a model for inclusive growth.

Speaking at the ASEAN Business and Investment Summit (ABIS) 2025 on Saturday, Dr.Serey outlined a vision for interoperable digital payment systems across Southeast Asia, emphasizing that seamless cross-border transactions are critical to narrowing the region’s digital divide and enabling MSMEs to thrive in the digital economy.

“Regional payment integration will allow MSMEs to trade more efficiently and inclusively,” she said, highlighting Cambodia’s Bakong system as a successful case study in digital financial infrastructure.

Developed by the National Bank of Cambodia and launched in 2020, Bakong is a blockchain-based interbank payment system that unifies mobile wallets and traditional banking services. It enables real-time transfers in both Cambodian riel and U.S. dollars, and has been credited with expanding financial access, especially for small businesses and rural communities. The system has also been piloted for cross-border payments with neighboring countries, including Laos, Thailand, and Malaysia.

Dr.Serey told the forum that Bakong’s success in driving MSME growth in Cambodia demonstrates the potential of central bank-led digital infrastructure to support financial inclusion and economic resilience. She also stressed the importance of public-private collaboration in scaling such innovations across ASEAN.

The summit, held alongside the ASEAN Leaders’ Summit, brought together heads of state, business leaders, and tech giants including Google and TikTok. Discussions focused on overcoming digital barriers for MSMEs, strengthening regional cooperation, and leveraging fintech to drive inclusive development.

ABIS is ASEAN’s premier annual platform for dialogue between policymakers and the private sector, drawing participants from across the region and global partner countries.