Cambodia’s central bank governor has become the first recipient of an Asian Institute of Chartered Bankers (AICB) Honorary Fellowship, receiving the prestigious award before a gathering of banking regulators and industry representatives.
Chea Chanto, Asean’s longest serving central bank governor, received the esteemed award from AICB chairman Azman Hashim at a ceremony in Siem Reap, northwestern Cambodia today, witnessed by Bank Negara Malaysia (BNM) governor, Muhammad Ibrahim.
According to Mr Azman the award recognises individuals whose leadership and contributions in the financial industry are considered to be of national and international significance.
Mr Azman said Mr Chea had been instrumental in rebuilding Cambodia’s banking sector into a robust financial system backed by “a transparent regulatory, supervisory, and prudential framework”.
Appointed governor of the National Bank of Cambodia (NBC) in 1998, 19 years after its reestablishment following the destructive and genocidal reign of Pol Pot, Mr Chea today described the Cambodia banking sector as “one of the country’s best performing economic sectors”.
In 2017 the Cambodia banking sector saw a 31.8 per cent increase in foreign capital inflow, compared to a meagre 0.8 per cent increase experienced in the non-banking sector.
Noting that the Cambodia banking sector comprises more foreign banks than local ones, Mr Chea said that last year one new bank from France and another from Japan were granted approval to commence business.
Malaysian banks established in Cambodia include Public Bank Bhd, Malayan Banking Bhd, CIMB Group Holdings Bhd, Hong Leong Bank Bhd, and RHB Bank Bhd.
The AICB is the professional body for the banking services industry in Malaysia with more than 12,000 members from Malaysia, Cambodia, the Maldives, Myanmar, and the Philippines.
Feature video Asian Institute of Chartered Bankers (AICB)
- AICB Awards Honorary Fellowship to H.E. Chea Chanto, Governor, National Bank of Cambodia (Bank Negara Malaysia)
- AICB confers top award to governor of National Bank of Cambodia (The Edge Markets)
He has spent extensive periods of time working in Africa and throughout Southeast Asia.
He has covered major world events including the 1991 pillage riots in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010 and 2014 Bangkok political protests.
In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.
Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post.