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NBC reveals interbank fund payment service

The head office of the National Bank of Cambodia on Norodom Boulevard in Phnom Penh.
The head office of the National Bank of Cambodia on Norodom Boulevard in Phnom Penh. Vireak Mai

NBC reveals interbank fund payment service

The National Bank of Cambodia will launch a new payment system to increase inter bank activity in a move to shore up confidence in the Kingdom’s rapidly expanding banking sector, it said in a press release yesterday.

The Fast and Secure Transfer (FAST) System will conduct real-time fund transfer transactions in riel across banks and microfinance deposit-taking institutions.

The system aims to ease payment activities, while making payments more efficient and transparent, the release said. A soft launch of the FAST System will debut on April 22.

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