August 19th, 2009 
Cambodia Economy Cambodia’s leading commercial bank, ACLEDA, has signed a memorandum of understanding with State-own electricity provider, Electricity du Cambodge (EdC), on August 17 at Raffles Hotel Le Royal in a purpose to provide the bank’s costumers in Phnom Penh and Kandal province to pay their electricity bills through Automatic Teller Machines (ATMs).
The ceremony of signing a deal was done by Keo Rattanak, Royal Government of Cambodia delegation in charge of managing the electricity supplier, and In Channy, president and CEO of ACLEDA Bank.
Keo Ratanak said that the reasons that EDC has selected ACLEDA Bank Plc. as its partner in providing payment service of using electricity power through bank’s ATMs for all customer in Phnom Penh and Kandal province are to facilitate the payment of EDC’s customers and to minimized the quality of direct payment of customers as well as the amount of money to be received at every EDC’s branches.
In Channy said that ACLEDA bank Plc. is proud in receiving confidence and being selected by EDC to provide payment services of using electric power through ACLEDA Bank’s ATM after ACLEDA Bank has been selecting by the Ministry of Economy and Finance for providing banking services on national revenue and expense transactions in June. Recently, ACLEDA bank Plc. has deployed 62 ATMs and plan to deploy 105 ATMs more before the end of 2009 in response to the requirements and servicing to clients and public including customers of EDC.”
The bank’s customers will be able to pay their electricity bills through ATMs everywhere and would be charged 1,000 riels (US$0.24) to make a payment.
At the present, EDC has around 200,000 customers in Phnom Penh or around 80 percent of the total nationwide. In addition, the using of commercial banking system to manage the payment transactions of using electric power is designed to enhance the financial accountability of EDC with effectiveness.
EDC is a state-owned limited liability company to generate, transmit, and distribute electric power through-out the Kingdom of Cambodia. EDC is a juridical organization with administrative, financial and managerial authority; and it is responsible for its profit and losses and liable for its debts to the extent of the value of its assets.
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