The Cambodia Microfinance Association (CMA) and Khemarak University yesterday agreed to work together training professionals in the microfinance sector.
In a memorandum of understanding signed yesterday, Khemarak University agreed to train students on skills relevant to the microfinance sector and to supply microfinance institutions (MFIs) in the country much-needed workforce.
Meanwhile, CMA agreed to work with Khemarak University to design a curriculum based on the needs of its member organisations.
The cooperation will equip students pursuing a degree in Khemarak University with the skills that the market demands, said Ros Ravuth, the rector of the institution.
“The MoU clearly outlines the needs on the demand and the supply sides,” he said. “We train the students and CMA will take them once they are ready to join the labour market. We will supply them the workers they require,” Mr Ravuth said.
“CMA will supply trainers to the university that know the skills that CMA members demand.
“In addition to these trainers from CMA, our university has many experienced professors that will teach finance, business management, and banking skills to the students,” Mr Ravuth added.
Kea Borann, CMA chairman, said, “We will help the university understand the skills that banks and MFIs demand, so that they can produce the human capital that the sector needs.
“The demand for human resources in the financial sector is growing by about 10 percent every year. With the banking and microfinance sectors growing rapidly, we are lacking in human resources.
“A lot of companies have a hard time finding qualified staff. Upon graduation, many students lack the experience and skills that MFIs require.
“We hope this collaboration will be a first step in filling this gap,” he said. “This is the first time we work with Khemarak and we hope it will be a successful cooperation.
“If this partnership goes well, we will sign MoUs with other educational institutions in Cambodia,” he added.