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Cambodian, Japanese financial bodies sign cooperation deal on bank supervision

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PHNOM PENH, (Xinhua) — The National Bank of Cambodia ( NBC), or the Central Bank, and the Japan Financial Services Agency (JFSA) signed a cooperation agreement on Wednesday, aiming at exchanging experience and expertise in the area of bank supervision, according to a news statement.
The deal was inked between NBC’s deputy governor Neav Chanthana and JFSA’s planning and coordination bureau deputy chief Michio Saito.   “Both authorities would promote the exchange of their experience and expertise for enhancing legal and regulatory frameworks as well as financial markets in both countries,” the statement said.
The cooperation would provide an engaging opportunity to the NBC to further enhance practical knowledge and skill of its staff in order to contribute to developing and maintaining the stability of the banking system, it said.
Neav Chanthana said the partnership between the two authorities will further strengthen amicable friendship and bilateral cooperation.   “Moreover, it will provide the NBC valuable opportunities to learn from the experience and expertise of JFSA so that we may constantly promote the sound development of the banking system in Cambodia,” she said.
Founded in 2000, JFSA is an independent and unified supervisor responsible for supervising banking, insurance, and security business. 

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