Cambodia’s central bank governor, Chea Serey, has warned that if all depositors attempt to withdraw their money from banks at the same time, financial institutions could face serious cash shortages.
In a statement issued on March 16, 2026, Chea Serey urged depositors to work with their respective banks to find solutions regarding their deposits in order to protect the interests of all customers.
Chea Serey explained that when many depositors rush to withdraw funds simultaneously, banks may struggle to provide cash immediately because much of the money has already been lent out to borrowers.
“If depositors demand their money from banks at the same time, banks will also have to demand repayment from all borrowers at the same time,” Chea Serey said.
The statement came as hundreds of customers who had deposited money with APD Bank gathered at the bank’s branch in the Boeung Kak area on Monday to withdraw their funds.
The rush followed the bank’s announcement that it was suspending some services for system maintenance and had requested the National Bank of Cambodia to take legal measures to address the situation.
Customers raised a range of concerns. One Chinese businessperson identified as Yulong Yew said his company had deposited five million dollars in APD Bank but was prevented from entering the bank when attempting to withdraw the funds.
Another customer said they went to the bank to withdraw money after learning that transfers had been temporarily suspended. The customer said bank staff initially claimed the suspension would last three days, but later said the temporary halt would extend to five days.
Just after midnight on March 16, APD Bank issued a service update informing customers that all banking services would be temporarily suspended from 12:01 am until 9:00 am the same day.
From 9:01 am on March 16 until 11:59 pm on March 20, the bank said some services would gradually resume, although others would remain unavailable.
Services that remain accessible include checking account balances, opening fixed-term savings accounts, and transferring money between personal accounts.
However, outgoing transfers through the Bakong KHQR system are limited to three hundred dollars per customer.
Several services remain temporarily suspended, including certain functions in the APD Mobile and iBanking platforms, as well as VTM services, Visa cards, UPI, and CSS.
Earlier, on March 14, APD Bank released a separate statement saying that in recent days false information had circulated online claiming the bank was involved in internet fraud and that its banking license was at risk of being revoked.
The bank said these reports had seriously damaged its reputation. It added that the matter had already been reported to relevant authorities and stressed that it complies strictly with all regulations and guidelines issued by the National Bank of Cambodia.
The Cambodia Daily said it had not yet been able to contact APD Bank chief executive Chua Thiam Yew for comment as of the time of publication.
