The Cambodian Public Bank (CPB) and the Ministry of Public Works and Transport yesterday signed a memorandum of understanding giving the bank the authority to collect public service fees on behalf of the government.
Datuk Phan Ying Tong, head of Indo-China operations, signed on behalf of CPB, while the ministry was represented by Secretary of State Peou Maly. The signing was held at the Sunway Hotel yesterday.
Under the agreement, CPB can collect fees for vehicle registration, technical inspections, driving licences, and transport business licences.
Mr Datuk Phan said CPB is honoured to be the first commercial bank appointed to collect public service fees in the Kingdom.
“The appointment not only reflects the public’s trust and confidence on our institution but also the government’s confidence that we are the right bank for the job,” he said.
Mr Datuk Phan stressed that they are well-equipped and prepared to do the job.
“We have the necessary expertise and experience, and have been providing training for the front-line officers,” he said, noting that it not the first time they perform the task.
Since 2017, on behalf of the Ministry of Economy and Finance, CPB has been collecting property, vehicle, and business taxes. It also collects payments for electricity bills for Electricite Du Cambodge and water bills for the Phnom Penh Water Supply Authority.
According to Mr Datuk Phan, payment and collection will first be over-the-counter and then will move online. “Dedicated counters have been set up at all our 31 branches throughout Cambodia which are manned by experienced staff to ensure effective and efficient collection,” he pointed out.
“The agreement today paves the way for more business collaborations between us and the ministry. It also provides more opportunities for closer cooperation in many other services, including collecting through other channels, namely internet and mobile banking services and many other digital initiatives in the near future,” he added.
Kong Sophal, deputy director-general at the ministry, said they are happy to partner with CPB and expressed confidence in the bank’s ability to do the job. According to him, CPB will make it easier and more convenient for the public to pay public service fees.
“This is a good collaboration. Everyone, especially the public, will benefit from it,” he stressed.
CPB, which has been in Cambodia since 1992, is one of the Kingdom’s leading financial institutions. It is a wholly-owned subsidiary of Public Bank, which is one of the largest domestic banking groups in Malaysia with a market capitalisation of $31 billion. It has 31 branches across Cambodia.