On Friday, 20 March, Mr. Thomas Schings, Vice-Chairperson of the Digital and Technology Committee, was invited by the National Bank of Cambodia to speak on the panel discussion during the 46th anniversary of the re-introduction of the riel.
The re-introduction of the riel is NBC’s flagship annual event, aimed at raising public awareness of the currency’s use. This year, NBC shared two research studies: one on dollarisation and its impact on Cambodia’s garment, footwear, travel goods, and bag manufacturing sectors (a joint initiative with UNDP), and another on currency use in the public sector (in collaboration with the National Assembly).
The panel discussion, titled “Progress, Challenges, and Policies to Promote the Use of the Khmer Riel,” featured Mr. Schings providing the private sector perspective. He highlighted the current use of the riel in business, shared positive feedback, and identified bottlenecks that require further promotion of the currency.
The discussion also included representatives from public institutions and other chambers of commerce in Cambodia, offering a collective perspective to guide the development of policies to promote the Khmer riel.