Cambodian Economy Reviews

THE function of money in Cambodia is served by the national currency, the riel, and a handful of foreign currencies, including the Vietnam dong, the Thai baht and the US dollar. In fact, approximately 90 percent of all transactions today are conducted in greenbacks. Cambodia is not on its own as a heavily dollarised economy. [...]

The first-ever mobile phone banking service, known WING, was launched by financial services provider Australia and New Zealand (ANZ) Banking Group, which is a start-up offering mobile phone payments services in Cambodia, aimed mainly at the unbanked, the service enables user to make various transactions. New SMS based-mobile phone payments services, WING, which is ANZ’s [...]