KB PRASAC to Pay 100% of Salaries in Riel Starting October 2026

• 100% of salaries in riel. KB PRASAC Bank pays its employees' entire payroll in Khmer riel (KHR), no longer in US dollars (USD).
• October 2026. The change takes effect this month. The news was published on October 28, 2026.
• Cambodia. The measure applies to the bank's staff. The NBC presents it as a private-sector commitment.
• One of the strongest private-sector signals. According to the source, it is one of the most notable private-sector commitments to the de-dollarization effort led by the National Bank of Cambodia.
• Salaries paid into a KHR savings account. Employees can pay by scanning a KHQR code, make instant domestic transfers with no conversion fees, and access riel savings products.

This announcement is the culmination of a long-running shift. Here are the key milestones.

1. For decades: Cambodia's financial system has operated with a high level of dollarization. The dollar helped underpin economic stability during the country's reconstruction.
2. In recent years: Heavy reliance on the dollar limits the effectiveness of the NBC's monetary policy and exposes the local market to foreign-currency volatility.
3. More recently: The NBC has been encouraging businesses, financial institutions and payment networks to favor the local currency.
4. The rise of digital payments: Bakong, the national mobile payment platform, and the KHQR interbank network have made riel payments far smoother. This reduces reliance on cash and cuts currency-exchange friction.
5. October 2026: KB PRASAC Bank begins paying all its employees exclusively in Khmer riel.
6. October 28, 2026: Cambodia Investment Review publishes the news. The bank's management says it wants to create a ripple effect in the private sector.
7. What to watch: Could other banks or companies (banking, hospitality, manufacturing) follow? Nothing has been announced so far.

There are no figures by province or by amount for this announcement. Instead, here is who is affected and how, player by player.

• No mandatory immediate change. No new rule requires you to pay or be paid in riel. The announcement concerns a bank's payroll.
• KHQR is becoming second nature. Restaurants, shops and services in Siem Reap increasingly accept KHQR scans. Paying in riel will keep getting easier.
• Riel accounts are becoming more attractive. According to the source, KHR deposits often offer higher rates than USD ones. It's worth comparing with your own bank.
• Your contracts may gradually evolve. If you're a local employee, or if your rent is set in dollars, the currency of your contract could eventually come up for discussion.
• Lower conversion fees in everyday use. Instant domestic transfers in riel carry no conversion fees. That cuts the cost of small daily expenses.

1. Step 1: Re-read the currency clause in your employment contract, lease or service agreement. Check whether the amount is set in USD or KHR.
2. Step 2: Ask your bank which riel accounts it offers, and at what interest rate and fees.
3. Step 3: Install a KHQR-compatible banking app and test a small payment at a shop in Siem Reap.
4. Step 4: Compare the exchange rate applied to each conversion. Avoid converting large sums without shopping around.
5. Step 5: Keep a bit of riel and a bit of dollars on hand for everyday spending. The transition is gradual.
6. Step 6: Keep your receipts and statements whenever you change the currency you pay in, so you can justify an amount in case of a dispute.
7. Step 7: Follow official announcements from the NBC and your bank. Other institutions may announce similar measures.