National Bank of Cambodia and the Bank of Korea has kicked off a final seminar on the implications to financial instruments for interbank market development in Cambodia from Korea’s experience under the 2019 NBC-BOK Knowledge Partnership Program.
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NBC and the BOK have been cooperating for many years on joint research program. Indeed, this is the fourth collaboration between our central banks, following three fruitful results on Modeling for Macroeconomic Analysis and Inflation Forecasting, Empirical Analysis on the Relationship between the Exchange rate Inflation and Macro-Financial Linkages.
“With hindsight, I can say that these three joint researches have contributed towards enhancing NBC staff capacities in formulating monetary policy to achieve price stability as well as sustainable economic growth,” said Neav Chanthana, Deputy Governor of the National Bank of Cambodia.
She added that this year, the proposed topic of the BOK-KPP focuses on promoting the growth of local Interbank Market Development in Cambodia and make it more efficient.
“I acknowledge that the program is significant step to develop interbank market in Cambodia, which is a key role in implementing monetary policy through interest rate transmission channel,” She added.
Kee Sun Jang, Deputy Director General, Knowledge Partnership Program Team of the Bank of Korea, said that since the signing of the 2007 MOU on mutual cooperation, exchanges between the NBC and the BOK have steadily expanded.
“‘I also hope that this project will help enhance the NBC’s capacity to analyze financial markets and to contribute meaningfully to Cambodia’s economic development going forward,” Mr Sun Jang pointed out.