Vijian Paramasivam
The Securities and Exchange Regulator of Cambodia (SERC) and ACLEDABank Plc have reaffirmed their commitment to cultivating skilled professionals to bolster trust and confidence in Cambodia’s capital market, thereby attracting more investors. This commitment was solidified through the signing of a memorandum of understanding (MoU) between SERC and Acleda University of Business (AUB), a subsidiary of ACLEDABank, emphasizing the need to bridge the skills gap in the financial sector and enhance the quality of the Kingdom’s securities market.
The MoU, signed at a ceremony held at AUB’s campus on Monday, highlights the ongoing collaboration between SERC and AUB. SERC Director-General Sou Socheat emphasized the importance of this partnership. “Today’s event is a testament to the collaboration between the SERC and AUB to continue strengthening and expanding cooperation in increasing awareness and developing human resources in the securities sector in Cambodia,” he said.
“We have been promoting the development of the Cambodian securities market to operate efficiently, sustainably, and inclusively, contributing to the growth of the Cambodian economy,” he added.
Increase Awareness & Develop Human Resources In The Securities Sector
This new MoU builds on a similar agreement signed on August 10, 2021, when AUB was still known as ACLEDABusiness Institute. Both agreements aim to increase awareness and develop human resources in the securities sector, targeting students who may become future investors or professionals in the field.
In conjunction with the MoU signing, a workshop titled “Raising Financial Literacy Awareness of the Securities Sector” was held to disseminate knowledge to AUB students. These efforts are crucial as Cambodia’s capital market continues to grow, with 23 companies listed on the Cambodia Securities Exchange (CSX). Of these, eleven have offered equity while twelve have issued corporate bonds. As of the first quarter of this year, CSX’s market capitalization stood at $3.06 billion, with three new listings expected by year-end.
Significance Of Financial Education For Students In Cambodia
ACLEDABank made history in 2020 as the first commercial bank to enter the local capital market, raising funds for expansion through its Initial Public Offering (IPO) and subsequent listing on the CSX.
Sou Socheat underscored the significance of financial education for students. “The securities sector is a very important field that students should study to enhance their financial well-being and achieve their future financial goals,” he said. “At the same time, before considering investing, students must first learn to save by reducing unnecessary expenses, as this is an effective saving mechanism.”
The partnership between SERC and Acleda Bank represents a key collaboration in how a local financial institution can support the development of Cambodia’s financial sector by preparing students for employment and protecting investors’ interests.
Importance Of Good Governance And Business Management
Dr. In Channy, President and Group Managing Director of Acleda Bank, emphasized the importance of good governance and business management understanding for sustainable institutional development. “The cooperation between AUB and SERC is a new approach that will provide valuable training in the securities sector to students, the public, board members, and directors of securities issuers and companies licensed by SERC, who need to understand more about the formulation of corporate governance policies,” Channy said.
AUB President Dr. Phon Narin noted that under the MoU, the university will develop a curriculum for training in the securities sector that aligns with standards, laws, and regulations recognized by SERC. “Raising awareness and developing human resources in the securities sector among students, who are future potential investors, is crucial for enhancing national economic growth,” Narin said.
AUB has played a significant role in training ACLEDA staff, contributing to the bank’s growth over the years. The institute offers higher education in business administration and professional training in finance and banking to both local and international students and graduates, establishing itself as a premier center for training professionals in the financial domain.
