SERC And ACLEDA University Sign MOU To Promote Financial Literacy And Awareness Of The Cambodian Securities Sector
On July 8, 2024, H.E. Sou Socheat, 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) for “Cooperation on Raising Awareness and Human Resource Development in the Securities Sector in the Kingdom of Cambodia”.
The MOU signing ceremony was also co-organised with a seminar on “Promoting Financial Literacy Awareness of the Securities Sector” at AUB. Supported by the Cambodia Securities Exchange (CSX), ACLEDA Securities Plc and Banjaran Asset Management (Cambodia) Plc., this event was organised to establish cooperation on raising awareness and human resource development in the securities sector for students who will become investors and potentially also work in Cambodia's securities sector in the future.
The morning session focused on teaching students financial planning for the future, managing finances properly and creating saving and investing habits during university life, and especially providing fundamental knowledge of the Cambodian securities sector.
In the afternoon session, the SERC and AUB also organised a workshop to share information and knowledge related to the legal operation of collective investment scheme (CIS) businesses in Cambodia, in reference to the SERC's authorisation of Fund Management Companies to raise funds through the issuance of fund units under a CIS, to create public, private or real estate investment trust funds.
During the event, H.E. Sou Socheat remarked:
Today's event proves that both the SERC and AUB continue to strengthen and expand cooperation on raising awareness and human resource development in the securities sector in Cambodia, meaning that we have been promoting the development of Cambodia securities market with efficiency, sustainability and inclusivity to contribute to Cambodia economic growth.
“[Understanding] the securities sector is an important skill for students to learn and take advantage of, to build their financial well-being and achieve future financial goals. In addition, before thinking about investing, students must start from saving first, by reducing unecessary expenses with effective saving methods," he added.
Dr. Phon Narin also stated:
Raising awareness and human resource development in the securities sector among students who will become potential investors in the future is a really important contribution to the promotion of economic growth. Through the signing of this MOU, AUB will design a training course for directors in the securities sector, which aligns with the standards, laws and regulations accredited by the SERC, who is the sole regulator… to the securities sector in Cambodia.
Dr. In Channy, Director of ALCEDA Bank and Stakeholder Representative of AUB also affirmed that the cooperation between AUB and the SERC is a new pathway to providing students, company board members or directors, and members of the general public, training on the securities sector in Cambodia, especially on the preparation of corporate governance policies.
“Good governance plays a vital part in promoting and supporting the management and sustainable development of an institution… Good governance [means you] can efficiently supervise and manage the organisation’s problems and can respond to the needs and interests of the whole organisation,” he added.
The event ended with closing remarks provided by H.E Dr. Vin Pheakdey, Deputy Director General of the SERC.
A total of 300 participants attended the seminar, including Asad Yaqub, Resident Representative of the IFC in Cambodia, senior management staff and technical officials of the SERC, representatives of different units and regulators under the Non-Bank Financial Services Authority (FSA), senior management from ACLEDA Bank, members of the Securities Investor Association of Cambodia (SIAC), influencers in the Cambodian securities sector, and students of AUB.
This press release was supplied.