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Promoting Financial Literacy: New Partnership Between Cambodia's Securities Regulator and ACLEDA University

Phnom Penh, July 10, 2024 – In the morning of July 8, 2024, with the honor permission of H.E. Dr. Aun Pron Moniroth, Deputy Prime Minister, Minister of Economy and Finance and Chairman of the Non-Bank Financial Services Authority (FSA), H.E. Sou Socheat, Delegate of the Royal Government in Charge as Director General of the Securities and Exchange Regulator of Cambodia (SERC) and Dr. Phon Narin, Rector of ACLEDA University of Business (AUB), signed a Memorandum of Understanding (MOU) on “Cooperation on Raising Awareness and Human Resource Development in the Securities Sector in the Kingdom of Cambodia”. In this event, SERC and AUB also co-organized the dissemination seminar on “Promoting Financial Literacy Awareness of the Securities Sector” at AUB. The seminar was supported by the Cambodia Securities Exchange (CSX), Acleda Securities Plc and Banjaran Asset Management (Cambodia) Plc.

These events were organized to establish the cooperation on raising awareness and human resource development in the securities sector for students who will become investors and potential human resource in securities sector in the future. Meanwhile, in the morning session, the two institutions organized a seminar to integrate the awareness about financial literacy of the securities sector to the AUB students who are the successors and key resources, which focused mainly on financial planning for the future and managing their finances properly, creating saving and investing habits during their university life, especially providing the fundamental knowledge of the securities sector.

In the afternoon session, the two institutions also organized the workshop to share information and knowledge related to the operation of collective investment scheme businesses legally, which refer to the authorization by the SERC to Fund Management Company licensed by the SERC to raised fund through the issuance of fund Units of the Collective Investment Scheme to create public, private or real estate investment trust funds.

In this ceremony, H.E. Delegate emphasized that “Today event proofs that both, SERC and AUB, continue to strengthen and expand the cooperation on raising awareness and human resource development in the securities sector in Cambodia. This means that we have been promoting the development of Cambodia securities market with efficiency, sustainability and inclusivity to contribute to Cambodia economic growth.” Meanwhile, H.E. Delegate also stated that “Securities sector is an important skill for students which they should learn and take advantage from it to build their financial well-being and achieve future financial goal. In addition, before thinking about investing, students must start from saving first, by reducing unnecessary expenses is an effective saving method”.

Dr. Phon Narin also stated that “Raising awareness and human resource development in the securities sector for students who will become potential investors in the future, is really important for contributing to promote the economic growth”. Dr. also added that “Through the signing of this MOU, AUB will design the traning course for directors in the securities sector which align with the standard, laws and regulations, which are accredited by the SERC, the sole regulator to regulate, supervise and develop the securities sector in Cambodia”.

Dr. In Channy, Director of ALCEDA Bank and Stakeholder Representative of AUB also stated that “The cooperation between AUB and SERC is a new pathway to provide potential training in securities sector to students, public, board members or directors who need to learn more about preparing the corporate governance policies. Good governance is a vital part to promote and support the management and the sustainable delevopment of institution. The good judgement of governance is a good governance which you can efficiently supervise and manage the organization’s problems and can respond to the needs and interests of the whole organization”.

H.E Dr. Vin Pheakdey, Deputy Director General of the SERC, provided the closing remark of this event. This event was participated by Mr. Asad Yaqub, Resident Representative, International Finance Corporation, Cambodia. Through his presence, he will support the development of corporate governance in Cambodia, especially in the securities sector. In addition, this event was also attended by senior management and technical officials of the SERC, representatives of the units and regulators under the FSA, senior management of ACLEDA Bank, Securities Investor Association of Cambodia, Influencer in the securities sector and students of AUB with a total of 300 participants. The guest speakers of this event were from SERC, AUB, CSX, Acleda Securities Plc and Banjaran Asset Management (Cambodia) Plc.

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