The Institute of Banking and Finance (IBF) today marked a significant milestone in its commitment to professional excellence with the launch of its flagship Directorship Program and the signing of a pivotal memorandum of understanding (MoU) with the esteemed Singapore Institute of Directors (SID). The ceremony, held in Phnom Penh, signifies a powerful collaboration and a concerted effort to elevate corporate governance standards and cultivate a new generation of effective leaders within the Kingdom’s financial institutions.
The event was presided over by His Excellency Prof. Dr. Sok Siphana, Senior Minister in charge of Special Missions and Chairman of the Trade Policy Advisory Board of the Royal Government of Cambodia , Mr. Rath Sophoan, Chairman of the Association of Banks in Cambodia, and Her Excellency Dith Nita, Chairwoman of the Cambodia Microfinance Association, and saw the attendance of over 150 prominent figures from the Cambodian financial industry, government officials and representatives from both IBF and SID.
Speaking at the ceremony, Mr. Sou Visal, CEO of IBF, underscored the institute’s unwavering dedication to elevating the standards of professionalism and banking education in Cambodia.
“For years, IBF has been at the forefront of empowering individuals within our financial sector through targeted training and development initiatives,” he stated.
“The launch of this Directorship Program is a natural progression of our efforts, recognising the pivotal role of effective governance in driving the industry forward. Our partnership with the Singapore Institute of Directors, a globally recognized leader in director development, is a testament to our ambition to bring world-class expertise to Cambodia,” he continued.
“30 years ago, corporate governance was unthinkable. Today, with initiatives such as this Directorship Programme, we are entering a new phase of professionalism and responsibility, signalling Cambodia’s readiness to be part of the global agenda,” added His Excellency Prof. Dr. Sok Siphana, Senior Minister in charge of Special Missions and Chairman of the Trade Policy Advisory Board of the Royal Government of Cambodia, as he reflected on evolution of corporate governance over the past 3 decades.
“The launch of the Directorship Program comes at a crucial time for Cambodia’s rapidly expanding banking industry. As the sector matures and faces increasingly complex challenges, the need for skilled and ethical directors has become paramount,” said Mr. Rath Sophoan, Chairman of ABC, in his congratulatory remarks.
Mr. Terrence Quek, CEO of SID, reiterated “through this partnership with IBF, we hope to support IBF in its quest to empower Cambodian directors to uphold high standards of governance and professionalism the same way SID has been uplifting the directorship profession and champions good corporate governance in Singapore for over 26 years.”
“In addition to contributing thought leadership to IBF, we also hope this collaboration will allow us to bring insights and lessons from Cambodian directors to value-add to our members in Singapore, many of whom are board directors committed to continuous professional development and may seek business opportunities in Cambodia,” he noted.
The comprehensive programme is meticulously designed to equip current and aspiring directors with the essential knowledge and strategic insights in areas such as board responsibilities, risk management, corporate strategy and ethical leadership. Not only will the directors enhance their understanding of local requirements but also international best practices and networking opportunities through this collaboration.
