The initiative, launched on Sunday, November 15, 2026, connects Cambodia’s Bakong payment system with Rwanda’s eKash platform, operated by R-Switch, allowing customers in Cambodia to send money directly to bank accounts and digital wallets in Rwanda.
The National Bank of Cambodia and the National Bank of Rwanda jointly announced the initiative during the Black Swan Summit Cambodia, taking place in Phnom Penh from November 15 to 16.
Under the arrangement, ACLEDA Bank Plc. serves as the correspondent bank in Cambodia, while I&M Bank (Rwanda) Plc acts as the settlement bank in Rwanda.
The service allows customers of ACLEDA Bank and other financial institutions participating in Cambodia’s Bakong network to transfer funds to beneficiaries in Rwanda without going through the complexities traditionally associated with international money transfers.
The two central banks said the initiative is intended to expand financial service options for individuals and businesses that need to move money between the two countries.
It is also expected to facilitate payments linked to trade, investment and tourism while expanding access to formal remittance channels and digital financial services.
The launch comes as Rwanda and Cambodia seek to deepen economic ties through cooperation in several sectors.
On Friday, November 13, President Paul Kagame, who is in Cambodia for a state visit, and Prime Minister Hun Manet presided over the signing of three cooperation agreements covering investment promotion, tourism and air transport services.
The agreements included a memorandum of understanding between the Rwanda Development Board (RDB) and Cambodia’s Council for the Development of Cambodia (CDC) to promote investment and development cooperation.
The two countries also signed an MoU on tourism cooperation and an Air Services Agreement intended to establish a framework for collaboration in air transport.
The latest payment initiative adds financial technology to the areas of cooperation as both countries explore opportunities to facilitate economic exchanges.
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