PHNOM PENH: Governor of the National Bank of Cambodia (NBC) H.E. Ms. Chea Serey attended the 2023 MOEF-BOK-FSC-IMF International Conference, held late last week in Seoul, the Republic of Korea under the theme “Digital Money: Navigating a Changing Financial Landscape.”

Addressing the event, H.E. Ms. Chea Serey shared her perspective on digital money provided that Cambodia has already launched the Bakong system which can be considered as one form of digital money with many features similar to that of the Central Bank Digital Currency.

According to NBC, digital money has become a global topic in recent years given its potential benefits that can boost productivity and improve economic outcomes in particular it can improve efficiency, lower costs, and enhance financial inclusion.

However, it added, that digital money also brings about some concerns on financial stability and stronger consumer protection. The conference gathered strong minds and talents of policymakers and academia around the globe to share experiences and discuss major policy dilemmas surrounding digital money.