Two Financial Associations and NBC Hold Workshop on Progress and Future Direction of Financial Literacy Programs

Phnom Penh: The Association of Banks in Cambodia and the Cambodia Microfinance Association, with support from the National Bank of Cambodia (NBC), held a stakeholder consultation workshop on progress and future directions for developing financial literacy programs on March 26, 2024, at the Banking Studies Center of the National Bank of Cambodia.

The consultation workshop was attended by Mr. Heng Bomkora, First Deputy Director General of Supervision at the National Bank of Cambodia; Mr. Jo Scheuer, Coordinator of the United Nations Resident Coordinator’s Office; Mr. Makoto Kurokawa, a board member of the Association of Banks in Cambodia; and Ms. Dit Nita, Chair of the Board of the Cambodia Microfinance Association. Representatives of the Banking Studies Center, national and international development partners, the International Finance Corporation, the United Nations Capital Development Fund (UNCDF), civil society organizations and other stakeholders also attended. Approximately 40 people took part.

According to a press release from the Association of Banks in Cambodia, the stakeholder consultation workshop had three objectives: first, to discuss key progress, challenges, opportunities and future directions for developing financial inclusion and financial literacy; second, to integrate cooperation among all stakeholders to effectively implement financial inclusion and financial literacy initiatives; and third, to provide key stakeholders with the knowledge and skills needed to effectively design, implement, monitor and evaluate financial literacy programs.

Following the full-day consultation, the workshop achieved the following key outcomes: 1) approximately 20 financial education interventions and projects are being implemented by more than 10 organizations from civil society, associations and development partners; and 2) challenges, recommendations and directions were identified to expand and strengthen financial literacy education programs in Cambodia. ៕