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May, 2018

The Government of Cambodia Will Begin Using Electronic Fund Transfer

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The Royal Government of Cambodia will begin using Electronic Fund Transfer (EFT) starting from the 01st of March 2018. According to H.E Dr. Vong Bunintreavuth, the Director General of General Department of National Treasury (GDNT), EFT is an electronic system that will be a function within FMIS and will be used between suppliers and ministries and institutions. Its purpose is to replace the cheque that was normally issued by the GDNT. With EFT in place, payment will be transferred directly from the account of the National Bank to the bank account of the suppliers or the ministry and institutions.