Under the AMRO Technical Assistance Program, AMRO provides technical support to ASEAN+3 members with a focus on strengthening the capacities of these economies. Towards this aim, AMRO is seeking to engage individual consultants, experts or consulting entities to implement the following Technical Assistance project.

Project Name

Feasibility Study and Report on the Non-Bank FinTech Sector

Project Beneficiary

FinTech Center of The General Secretariat of the Non-Bank Financial Service Authority (GFSA), Cambodia

Project Objectives

This project aims to seek insight and input to support the development of a vibrant legal and regulatory FinTech ecosystem in the non-bank financial sector in Cambodia through the preparation, amendment and effective enforcement of laws and regulations related to FinTech.

The Feasibility Study and Report will therefore focus on the relevant policies, strategies and risk management principles in order to both develop the nascent sector and ensure that it is supervised effectively to mitigate risks and ensure risks to Financial Stability are mitigated appropriately.

The project aims to produce a Feasibility study and report on the Non-Bank FinTech Sector in Cambodia, which details the activities, future development, and potential risks in the sector, as well as key regulatory and legal issues that need to be implemented or amended to allow the above.

Project Rationale

In response to the Cambodia Digital Economy and Society Policy Framework 2021-2035, the Royal Government has decided to launch the Cambodia FinTech Development Policy 2023-2028 with a long-term vision: “Developing FinTech to contribute to the acceleration of the development of Cambodia’s vibrant digital economy and society” which is aligned with the broader objectives of the Pentagonal Strategy, emphasizing the coordination between financial sector innovation and national development goals.

For contributing to a vibrant FinTech ecosystem development, the Royal Government has set out a catalogue of policy measures to develop legal and regulatory frameworks related to FinTech, including non-bank FinTech. This project aims to help with this strategy.

Project Outputs

The key outputs will be:

(1) A feasibility study and report to analyze the Non-Bank Fintech sector, focusing on:

a) Assessment of the sector currently.
b) Key policy recommendations to enable the sector to innovate, grow and develop.
c) Potential risks and issues that Supervisors need to be aware of in regulating the sector.
d) Advice on requirements for laws, regulations or amendments therein, to effectively promote the sector whilst mitigating potential risks.

(2) Advice on setting up and operating a single-entry (common) regulatory sandbox for the Non-Bank Financial Services Authority (NBFSA) to enable the testing of new and emerging FinTech technologies.

(3) Training and workshops (as part of the capacity building) to be provided to staff of the GSFSA in the above areas following the review and reporting phase of work.

The report should cover all FinTech activities in the non-bank sector, including Buy Now Pay Later credit, supply chain financing instruments, Decentralized Finance, and other emerging technologies. The report should summarize successful FinTech related practices and regulatory approaches from within Cambodia, as well as from the surrounding countries and in the wider ASEAN+3 region, and also highlight global best practice.

Project Schedule

The project is expected to run for 6 months from the start date, with the final report and training to be delivered by the end of December 2024. Milestones in line with the Project Outputs to be agreed in consultation with the chosen consultant.

Requirements for Consultants

  • Have in-depth understanding of the FinTech sector within Cambodia as well as regionally and globally, with a focus on Non-Bank FinTech activities.
  • Able to develop practical recommendations through understanding of key risk issues, targeted data collection and analysis and to develop a comprehensive supervisory and regulatory oversight strategy on the sector.
  • Able to establish and maintain good relationships with stakeholders, especially the Cambodian authorities.
  • Possess excellent oral and written communication skills in English.


Contact Information

Contact person: Mr. Aziz Durrani, Team Lead, Technical Assistance
Email: AMRO_TA@amro-asia.org


Interested consultants should submit:

a) An updated CV or introductory brochure (if the consulting party is an entity).
b) A brief description of past consulting experience, including notable achievements.
c) A concrete proposal for the project, including ability/plans to undertake on-the-ground assessments and provision of training on-site.
d) A breakdown of the total fees and charges to be levied (along with any tax considerations) for undertaking the scope of work.
e) Declaration of (no) conflict of interest (please send a disclosure statement if there is any actual or potential conflict of interest in relation to this Project).

Please send all applications and/or enquiries to: AMRO_TA@amro-asia.org

Deadline for submission: June 20, 2024