The Kingdom’s financial institutions, both state and private, describe the role of journalists as crucial in the dissemination of information to the public.
This is particularly important within the context of an increasingly changing global economy, and fears of a new financial crisis.
With this in mind, the Association of Banks in Cambodia (ABC), Cambodia Microfinance Association (CMA) and Insurance Association of Cambodia (IAC) organised an eight-day campaign of workshops to educate journalists about the basics of their three specific sectors.
The Club of Cambodian Journalists facilitated the campaign.
Hor Sovathana, deputy director-general of the Insurance Regulators of Cambodia (IRC), noted that media coverage reflect most of the events that take place around the world.
“The journalism profession has an important role to play in sharing information. This means they have the power to effect positive change, and can help the development of a modern, sustainable society,” she said.
She added that sharing accurate information about developments in the financial sector – both domestically and internationally – is one of their most important tasks.
Heng Bo Makara, deputy director-general of Supervision at the National Bank of Cambodia (NBC), said the training would also help improve the performance of the financial sector, especially in the face of inflationary pressures.
He added that the financial and Covid-19 crises had tested the strength and resilience of the banking system in Cambodia.
“During the pandemic, measures were introduced to restructure debt and arrange alternate repayment plans. Some members of the public did not understand this, and thought they were free from the obligation to repay their loans. This was not so, it was just that repayments were relaxed somewhat,” he continued.
He encouraged the public to avoid using informal financial services, saying they are often risky with no legal protection available to borrowers.
“I trust that journalists and the media will do their part to give the public the tools they need to make sound financial decisions,” he urged.
ABC chairman Raymond Sia said his association recognises the important role media outlets play, and pledged to work more closely with them.