Logo of Phnom Penh Post newspaper Phnom Penh Post - NBC seeks to promote financial literacy

NBC seeks to promote financial literacy

Content image - Phnom Penh Post
Chea Serey (center) director-general of NBC. Hong Menea

NBC seeks to promote financial literacy

A National Bank of Cambodia (NBC) official on Tuesday said it is seeking to promote financial literacy among Cambodians, saying that boosting awareness of financial issues has become a greater priority as the industry continues to develop and become more complex.

Speaking to reporters during the National Financial Literacy Day on Tuesday, NBC director-general Chea Serey said NBC realises work to boost financial literacy is a long-term agenda and is strongly pushing the Kingdom’s financial institutions to participate in accelerating Cambodians’ financial awareness.

She said there are currently around 10 financial institutions actively involved with NBC’s mission, while others have expressed their willingness to participate.

“Boosting financial literacy requires a long effort and cannot be done in merely one year, so we will keep working on it. It would be a big success for us if we are able to insert financial subjects into the general education programme,” she said.

“It is a long term and sustainable approach to promote financial literacy and we hope the [financial] knowledge of the people will improve from year to year.”

Financial literacy is a combination of the awareness, knowledge, skills, attitude and behaviour necessary to make sound financial decisions and ultimately achieve individual financial wellbeing.

With the purpose of long-term financial literacy development, NBC on Tuesday signed a memorandum of understanding (MoU) with the Ministry of Education, Youth and Sport to improve financial education for Cambodians from an early age.

NBC also signed an MoU with the Ministry of Women’s Affairs to promote financial inclusion among Cambodian women entrepreneurs.

Ministry of Women’s Affairs secretary of state Chan Sorey on Tuesday said motivating Cambodian women to participate more in economic activities is a key element to improving their rights in their families and in moving their families out of poverty.

“Promoting financial literacy among women is a very important means in contributing to promoting gender equality, especially in boosting women’s courage when it comes to economics,” she said.

MOST VIEWED

  • Joy as Koh Ker Temple registered by UNESCO

    Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in

  • Famed US collector family return artefacts to Cambodia

    In the latest repatriation of ancient artefacts from the US, a total of 33 pieces of Khmer cultural heritage will soon return home, according to the Ministry of Culture and Fine Arts. In a September 12 press statement, it said the US Attorney’s Office for the

  • Tina rebuffs ‘false claims’ over falling paddy price

    Agriculture minister Dith Tina has shed light on the trade of paddy rice in Battambang – Cambodia’s leading rice-producing province – in a bid to curb what he dubs a “social media fact distortion campaign” to destabilise the market. While acknowledging that the prices of paddy

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • Kampot curfew imposed to curb ‘gang’ violence

    Kampot provincial police have announced measures to contain a recent spike in antisocial behaviour by “unruly’ youth. Officials say the province has been plagued by recent violence among so-called “gang members”, who often fight with weapons such as knives and machetes. Several social observers have

  • PM outlines plans to discuss trade, policy during US visit

    Prime Minister Hun Manet is set to meet with senior US officials and business leaders during his upcoming visit to the US for the UN General Assembly (UNGA), scheduled for September 20. While addressing nearly 20,000 workers in Kampong Speu province, Manet said he aims to affirm