New partnership between Cambodian Securities Regulatory Authority and ACLEDA University

PHNOM PENH, 10 July 2024 – On the morning of 8 July 2024, with the honorable permission of His Excellency Aung Pron Moniroth, Deputy Prime Minister of Cambodia, Minister of Economy and Finance and Chairman of the Non-bank Financial Services Authority (FSA), His Excellency Su Socheat, Representative of the Royal Government as Director General of the Securities Exchange Regulatory Authority of Cambodia (SERC), and Dr. Phong Nalin, Rector of ACLEDA Business University (AUB), signed a Memorandum of Understanding (MOU) on “Cooperation on Raising Awareness and Human Resources Development in the Securities Sector in the Kingdom of Cambodia.” During the event, SERC and AUB also co-hosted an outreach seminar on “Raising Financial Literacy Awareness in the Securities Sector” at AUB.

These events were designed to establish cooperation on raising awareness and developing talents in the securities industry, targeting students who will be future investors and potential talents in the securities industry. Meanwhile, the morning session held a seminar to consolidate awareness on financial literacy in the securities industry for AUB students, who are the successors and important resources in the securities industry. The seminar mainly focused on future financial planning and proper financial management, forming savings and investment habits in university life, and provided basic knowledge of the securities industry in particular.

During the afternoon session, the two institutions also held a workshop to share information and knowledge on the lawful operation of collective investment scheme business, which refers to authorizing SERC-licensed fund management companies to raise funds through the issuance of collective investment scheme fund units to establish public, private or real estate investment trust funds.

At the ceremony, the representative emphasized that “Today’s event is proof that SERC and AUB have continuously strengthened and expanded cooperation in raising awareness and training human resources in the securities sector in Cambodia. This means that we have promoted the development of Cambodia’s securities market with efficiency, sustainability and inclusiveness to contribute to Cambodia’s economic growth.” Meanwhile, the representative also said, “The securities sector is an important skill for students, and they need to learn and utilize it to build economic wealth and achieve their future economic goals. In addition, before thinking about investment, students must start with savings first. Reducing unnecessary expenses is an effective way to save.”

“Raising awareness and developing talent in the securities sector among students who may become future investors is very important to contribute to promoting economic growth,” said Dr. Phong Nalin, adding that through the signing of this MOU, AUB will design training courses for securities directors that are in line with the standards, laws and regulations certified by SERC, the sole regulatory body that regulates, supervises and develops the securities sector in Cambodia.”

Dr. Ying Chanee, Director of ALCEDA Bank and Stakeholder Representative of AUB, also stated, “The collaboration between AUB and SERC is a new avenue to provide potential training in the securities sector to students, the public, officers and directors who need to learn more about corporate governance policy formulation. Good governance is an essential element to promote and support the management and sustainable development of an organization. Good judgement in governance is good governance that can efficiently monitor and manage organizational issues and respond to the needs and interests of the organization as a whole.”

Dr. Vin Pakdey, Deputy Director General of SERC, delivered the closing remarks of the event. The event was attended by Mr. Assad Yacoub, Resident Representative of the International Finance Corporation in Cambodia. Through his presence, Mr. Yacoub will support the development of corporate governance in Cambodia, especially in the securities sector. In addition, the event was also attended by senior management and technical staff of SERC, representatives of departments and regulators under the FSA, senior management of ACLEDA Bank, the Cambodian Securities Investors Association, influential figures in the securities sector, and students from AUB, totaling 300 participants. Guest speakers at the event were from SERC, AUB, CSX, Acleda Securities Plc, and Banjaran Asset Management (Cambodia) Plc.

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