PHNOM PENH, Dec 12 (Bernama) -- The National Bank of Cambodia (NBC) on Wednesday officially launched the country's national clearing system to increase efficiency and expand clearing and settlement services for inter-bank transactions.
A central bank statement said that the central system can clear and settle payment instruments such as checks and legitimate electronic transactions within one day, Xinhua news agency reported.
"Clearing and settling these instruments can be completed within one day and are operational at the NBC's National Clearing House," it said.
"With the system, one bank can transfer its clients' deposits to another bank's clients on the same day everywhere in Cambodia."
It has taken the NBC many years to develop the system under the support of the Cambodian government and the technical support of the Asian Development Bank.
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