Selected Comments Samdech Moha Bovor Thipadei Hun Manet, Presiding over the official inauguration of the “Wing Tower” Bank [Unofficial translation]



At the moment, we also listened to a brief report by Oknha Kith Meng on the evolution of the bank which in a short period of time played an important role in supporting the development of the country by participating in strengthening the banking sector. (1) The banking sector is very important […] comparable to blood. In simple word, we say where there is “no money,” there is nothing we can do. However, if there is a budget/money and there is no clear management or mechanism to supply and assist the current, there will be difficulty as well. Thus, the bank plays a very important role in mobilizing and diverting resources to support the economy. The efficiency of the banking system is to ensure the health of the economy […] and by comparison, the bank is like the heart which collects blood and releases blood to feed the organs. If the heart does not work well, our health is not good […]


In order for an economy to function, it requires a functioning flow of capital resources, in which the finance sector plays a very important role in the banking system. (2) Our National Bank not only plays a role in facilitating and supporting the operations of our banking system, but recently has been actively playing a role in negotiating with all countries to set up the communication facilitation for trade, tourism, etc. through the generation of QR code. Traveling to Japan this time we had been working on that as it is now the current trend of the world. There is no carrying money around anymore. It has to do with safety and laws of each country. In the ’80s and’ 90s, sometimes we had to carry money around […]

As mentioned in the speech, (3) if we do not have an electronic system, during the Covid-19 pandemic, we could have a hard time. Who would take the money to the lockdown areas? Who is going to do all those handouts? The government made cash provision to the people, but you may ask which officials dare to enter those lockdown areas? And even if they did, when they came back, they had to be a quarantine from 4 to 10 days. It’s really hard to get into all 200,000 houses or 800,000 houses. On the other hand, how much time did we need? And how much resources we need to be able to deliver the cash assistance to them? […] Although our country already has a lot of road connections, we observe that the digital roads are moving faster […] the digital payment system is very important […]

However, (4) this requires the bank’s investment to ensure fast, efficient, but also must be safe because if we use digital in the cash payment section and if it is not secure, we will be in danger. There is so much experience about the dangers (of this sort of banking) in the world. In the Philippines, hackers hacked outside banking systems, disrupting the whole system. So, paying attention and investing in the protection system is a necessary task to ensure security to prevent incidents like someone opens the account today and all the moneys are gone the next day. I now see that all over the world have invested heavily in this security protection. Investing in the bank’s security system will also help e-government which is soon enough we will set up e-government relating to the data system […]

The government has a lot of data to put on the system. They link those names with the database. For example, in order to pay a regular salary, there must be data linked to the names of officials. If we cannot protect the data and/or it is distorted or sometimes altered, for instance all 50,000 officials have suddenly their account numbers changed to someone else, it is a risky situation. In this regard, I encourage everyone to pay attention to the security system. I thank all the banks, especially the local banks that are making progress in this front. Going abroad, I have met banking investors in a number of countries that are professional in this fields. (5) The banking sector plays a central role in receiving savings and turning that money into other investment capitals. But banks are not just about getting savings. There are other products that can be helpful. Little by little, hopefully our banking system, especially the private sector, will create and diversify products and make them available and responding to our people’s needs […]

In theory, as I have read, it is said that “not only do people work hard, but they have to make their money work hard too.” That means as of this moment, we are making deposit in the bank for interest. It is said that those money works 24 hours a day. Sometimes (they are put in a place for continued transaction) such as stocks and on other things. It means that the deposited money keeps on making more. (6) Our people who work hard are taking part in savings after necessary spending. But banks have many products for that savings, not just ordinary interest. If there is another product, s/he can take that budget to reap more. In Cambodia, we are still limited. But this has to be based on clear thinking, because the higher the level of return, the higher the risk. So, we cannot stand still. We must move forward […]

I hope that our banking sector, in terms of innovation, will be involved in being creative to give our clients more choices in financing and increased security, especially at this difficult time. On November 13, the government sets out some cautious easing principles. We have reduced the reserve requirement from 9% to 7% to give the the bank more flexibility. We allow credit refinancing so that the bank can give the troubled company or business the ability to refinance, alleviate the burden […] (otherwise) some places have to pay both principal and down payment. Sometimes the situation is difficult. Let ask our bank to continue to check and provide more opportunities, but in a cautious way. (7) In the banking sector, although we need to expand and facilitate, we have an obligation to maintain the stability of this system. Referrals to clients need to be clearly evaluated, especially in these difficult circumstances. Who has the priority and how to balance? Because if we are not careful, the capital we offer will be unbalanced and insecure, and it affects the balance of the economy as a whole […]

However, I would like to encourage concerned parties to continue to further (this financial efforts) because if there is no budget flow, our economy will not work. If the blood supply is still in the heart and does not come to the limbs for a long time, it will be a problem. Once we are delivering, we must do it in an orderly way […] or it will lead to a stroke. But if you do not push, it will clog. Let us do it in a way to help promote this work. The government’s capabilities are limited but we will try to help through some policy facilitation […]

The inauguration of the Wing Bank Tower today is symbolic of the growth of trust as well as the growth of the private sector, especially our local investors […] in saying this, it does not mean that we pay attention to only local investment. We all care […] we are finding the way to cooperate. I am happy in seeing (that the capacity and feasibility) expansion of local banks over the years has been evolving to progress and they are doing the job themselves and re-invest locally. (8) In going out to all countries, generally speaking, this time there is the association of Oknha, especially the Chamber of Commerce with all investors in the country, who are trying to meet the private sectors as well as to open markets in the foreign countries so that trade and investment will function smoothly with the facilitation of the banking sector […]

I hope that, (9) once the inflow of investment as well as the flow of our trade increases, our bank will play an important role in facilitating this work. Therefore, our bank needs to be prepared, because the standard of payment in the country can be at one level. But securing foreign trade takes another level. However, I hope for more opportunities to expand and strengthen the banking and financial sector in our country. That is all I have, and before concluding again, I would like to congratulate Wing Bank on the inauguration of its Wing Tower, which has achieved even greater successes in contributing to the government’s effort to accelerate national economic growth and socio-economic development and sustainability […]./.


Selected Comments Samdech Moha Bovor Thipadei Hun Manet, at the celebration of t...

Cambodia was and still is considered an agricultural country. By 2023, agriculture accounted for about 22% of the country’s