SOSORO Museum and Association of Banks in Cambodia Sign MoU

Phnom Penh: In a major step forward for financial education in Cambodia, the Preah Srey Ishanavarman Museum of Economy and Money of the National Bank of Cambodia, known as SOSORO, and the Association of Banks in Cambodia (ABC) have joined forces in a meaningful collaboration.

According to a press release from the Association of Banks in Cambodia, the memorandum of understanding was officially signed today at the SOSORO Museum, in the esteemed presence of Dr. Chea Serey, Governor of the National Bank of Cambodia. The signing marks a new era of cooperation aimed at benefiting students at public educational institutions. This pioneering initiative will promote greater understanding of Cambodia’s economic and monetary history and enrich educational experiences for young Cambodians by combining cultural exhibits with practical knowledge. The MoU underscores the Cambodian banking sector’s commitment to corporate social responsibility, particularly to creating a sustainable and inclusive financial environment through education.

The MoU outlines several key initiatives:

1. Joint funding for educational visits: The Association of Banks in Cambodia will call on its members to provide funding to support visits to the SOSORO Museum, giving students at public educational institutions across the country additional learning opportunities.

2. Two visits in 2024: The agreement includes the organization and direct funding by the Association of Banks in Cambodia of two visits to the SOSORO Museum for students at public educational institutions in 2024. The visits will provide a unique opportunity to learn firsthand about Cambodia’s monetary history and financial principles.

3. Promoting corporate social responsibility in Cambodia’s banking sector: The partnership will also focus on highlighting corporate social responsibility efforts across Cambodia’s banking sector, particularly the role of banks in promoting financial literacy.

Raymond Sia, Chairman of the Association of Banks in Cambodia, said: “Through this initiative, we are aligning our efforts with the Association of Banks in Cambodia’s Sustainable Finance Principles, demonstrating the banking sector’s role in building capacity and raising awareness for a sustainable and inclusive future. We believe education builds knowledge, and this collaboration is a direct investment in the future financial stability, strength and resilience of the banking sector, as well as the well-being of the Cambodian people.”

Blaise Kilian, Co-Chair of the Preah Srey Ishanavarman Museum of Economy and Money of the National Bank of Cambodia, said the significant collaboration would give public educational institutions the opportunity to bring thousands of students to the SOSORO Museum in the coming year.

Dr. Chea Serey, Governor of the National Bank of Cambodia, said: “Understanding history in general, and economic and monetary history in particular, is essential for younger generations to learn about the past and to provide a foundation for making decisions in the present that will shape our future. In this regard, it is important for everyone to gain knowledge through education and culture, both inside and outside the classroom.”

The MoU takes effect immediately and remains valid until December 31, 2024, with the possibility of extension. This collaboration demonstrates the power of partnerships to promote inclusive growth and the two organizations’ commitment to the future of young Cambodians. ៕