Logo of Phnom Penh Post newspaper Phnom Penh Post - ACLEDA official voices calm over election withdrawals

ACLEDA official voices calm over election withdrawals

ACLEDA official voices calm over election withdrawals

The chief financial officer of ACLEDA Bank tonight acknowledged long lines were forming at its ATMs amid concerns over the election.

Chhay Soeun, who is also executive vice president of ACLEDA Bank Plc, said he was aware of the mounting queues at ACLEDA ATMs, though he said that there is no cause for concern.

“Security is not a problem. We are sure there will be no violations. Maybe [withdrawals] will still continue after tonight, but tomorrow we will talk to the National Bank of Cambodia as well as the Association of Banks of Cambodia."

Chhay added that ACLEDA Ban was prepared for such an eventuality, having contacted foreign lenders before today’s elections for financial support.

In the meantime, there is no guarantee that ACLEDA customers will have access to funds, as company policy is to refill ATMs during daytime hours only.

“We have enough money to refill all ATMs, but we will need more support if withdrawals continue,” Chhay said.

On whether he believes the withdrawals, and the civil unrest, will continue, Chhay said: “We think that the situation will happen for one to three days only.”

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group