Phnom Penh, 28 Sep 2020 - Sathapana Bank, one of the leading commercial banks in the Kingdom of Cambodia, continues its steadfast support for the 40th Riel Day organized by the National Bank of Cambodia (NBC) by being a major sponsor and continuously integrating the riel into its financial services.
The Riel Day was established with the aim of promoting the broader use of the Khmer Riel (KHR) throughout the country. During the Khmer Rouge, the riel which is the national currency, lost its value and presence as a result of the abolition, and was replaced by the Khmer Rouge currency. The riel was revived and re-emerged in Cambodia after the fall of the Khmer Rouge, and the official Riel Day started celebrating in 1980.
In the promotion of the Riel, Sathapana Bank encourages its customers to open Riel accounts and use the riel in various transactions such as Sathapana Mobile, Bill Payment, Transfer, and other banking services. Particularly, the bank offers a high yearly interest rate of up to 8% for term deposits in KHR.
Beyond that, Sathapana Bank also cooperated with the NBC and other financial institutions to launch a new service named "FAST" in 2016 that allows customers at participating banks and microfinance institutions to make fund transfers and payments in KHR nationwide and receive it immediately.
Sathapana Bank is committed to continuing its efforts to promote the riel and urges the public to participate in the use of the riel as extensively as possible.
About Sathapana Bank
Sathapana Bank is one of the leading commercial banks in Cambodia with total assets of over US$ 1.8 billion and more than 4,000 employees. We have the second-largest branch network in the country with more than 170 branches and more than 220 ATMs with cash recycling capability. We provide full banking services such as loans, deposits, iBanking, Mobile Banking, debit & credit cards, domestic and foreign remittances, Western Union, trade finance, tax payments, and other services. We have partnered with mobile payment providers such as WING, Pi Pay, True Money, Ly Hour Veluy, eMoney, and Bakong to give further convenience to our customers.