Phnom Penh (FN), Feb. 24 – The Institute of Banking and Finance (IBF) Cambodia inked a Memorandum of Understanding with Paragon International University, National University of Management, and Paññāsāstra University of Cambodia to spearhead a mutual and collaborative effort to narrow skill gaps and develop future workforce talents in the Cambodian financial sector. Under this partnership, the top universities will integrate industry-endorsed certifications from IBF into their existing curriculum offered to the students who major in Finance and Banking. Over 4,000 students are expected to graduate with industry-ready knowledge and rich skills required by the Cambodian banking and financial sector and are believed to be highly sought after by the banks and financial institutions.
The auspicious event held at the Ministry of Education, Youth, and Sport (MoEYS) was presided over by Dr. Om Romny, secretary of state, Ministry of Education, Youth, and Sport, and jointly witnessed by IBF Boards of Directors and the management team, Board of Directors from the Association of Banks in Cambodia (ABC), Rectors and deans from the partnered universities, and delegates from the Higher Education Department of MoEYS.
Dr. Om Romny addressed that the MoU between the public and the private sectors to foster knowledge sharing program is one of the most impactful and driving forces that will contribute to the strategic growth of future human resources in Cambodia, as they are the future of the country. In line with the Ministry’s focus on digital education to transform the country’s economic growth and to attract more investments, He believes that this partnership will surely support and contribute to technology-based upskilling, industry-based and knowledge-rich workforce talents.
Mr. Rath Sophoan, vice-chair of the Board of IBF, emphasized that universities have been playing a key role in ensuring the pipeline of talents in the banking and the financial industry in Cambodia. Their efforts are crucial in nurturing future talent workforce to take Cambodia forward through integrated education. This collaboration between the academia frontier and industry is especially significant in maintaining Cambodian competitive edge, through producing the next generation of talented students who are thriving to produce new ideas, products and services, at the speed necessary for the market growth.
Mr. Han Peng Kwang, board of directors of the Association of Banks in Cambodia (ABC), addressed that the joint efforts between IBF and the three universities will continue to provide support to the younger generation to equip them with more capabilities and readiness for their future career path in the banking sector. This will be done through an appropriate banking curriculum that will touch base on lending and regulatory compliance, in line with international banking curriculum standards. Following this long-term vision and promoting capabilities building for the soundness of the banking system in Cambodia, education is one of the main agendas of the Association of Banks in Cambodia.
Finally, on this special occasion, IBF would like to express sincerest thanks for the MoEYS’ support and believe that the MoEYS continues to bless the Institute’s work to encourage more meaningful collaborations with other higher education institutions in Cambodia. Also, IBF really appreciates the university partners for spearheading this effort together. IBF will continue looking for more opportunities to partner with other like-minded institutions to shorten the transfer and exchange of knowledge, to produce a fresh generation of graduates at speed and to meet the market demands.
About the Institute of Banking & Finance (IBF) Cambodia
The Institute of Banking and Finance (IBF) provides both international standard courses and local certifications catering to the professional needs of individuals at all levels in the banking and financial institutions, including commercial and specialized banks, and microfinance institutions. IBF’s mission is to improve corporate governance, elevate local practices towards international best practices, standardize banking practices, and educate the public about the sustainable financing, contributing to the development of the whole Cambodian banking system.