On Wednesday Morning, 5 October 2022, honored to be granted permission by H.E. Akka Pundit Sopheacha Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance and Chairman of the Board of the Non-Bank Financial Services Authority (FSA), Trust Regulator (TR) signed a Memorandum of Understanding (MOU) with Institute of Finance and Accounting (IFA) concerning "Cooperation on Raising Public Awareness and Promoting Participation in Trust Sector in the Kingdom of Cambodia", which was presided over by H.E. SOK Dara, Director General of Trust Regulator and MR. BUN Sundrong, President of Institute of Finance and Accounting at the FSA Building.
Within the scope of this MOU, TR has partnered up with IFA, which is an educational and vocational training institution in Finance and Accounting, to raise awareness and understanding of trust practice mechanisms, relevant legal standards and advantages of the trust sector to a more comprehensive and in-depth extent.
The partnership in addition will provide IFA's students the opportunity to enhance knowledge and gain first-hand experience at the TR whilst providing advantages to TR’s officials who wish to enhance their knowledge and abilities, particularly in Finance. The event was a success and bear fruitful results.
P.S. Trust is a fiduciary relationship in which a Trustor/Grantor gives the Trustee (qualified and licensed) the right to safeguard and use their property/assets for the beneficiary's benefits.
On Monday Afternoon, 19 September 2022, honored to be granted permission by H.E. H.E. Akka Pundit Sopheacha Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance and Chairman of the Non-Bank Financial Services Authority (FSA), the Trust Regulator signed a Memorandum of Understanding (MOU) with Federation of Associations for Small and Medium Enterprises concerning "Cooperation on Raising Public Awareness and Promoting Participation in Trust Sector in the Kingdom of Cambodia" presided over by H.E. SOK Dara, Director General of Trust Regulator and H.E. Lork Oknha Te Taingpor, President of FASMEC at the Non-Bank Financial Services Authority building. Within this MOU scope, both sides will establish cooperation on raising public awareness and promoting participation in trust practice to members of FASMEC who are potential founders, entrepreneurs and businesspeople in Cambodia, to ensure their well understanding of trust practice mechanisms, capability to participate in trust practice and take advantages of their trust business and as well enhance the development of trust sector sector in Cambodia through raising public awareness and dissemination. The ceremony was attended by H.E. CHHUN Sambath, Head of the Internal Audit of FSA, Oknha SIN Chanthy, Vice-president of FASMEC and Oknha CHHIN Ken, General Secretariat of FASMEC, representatives of line-regulators of FSA, top management and technical officials of TR, top management of FASMEC, Chairperson/CEO/top management of companies who are members of FASMEC, trustee companies and individuals who are trust service providers. The ceremony was a success and bear fruitful results. P.S. Trust is a fiduciary relationship in which a Trustor gives the Trustee the right to safeguard and use their property/assets for the beneficiary’s benefits.
On Friday Morning, 16 September 2022, honored to be granted permission by H.E. Akka Pundit Sopheacha Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance and Chairman of the Non-Bank Financial Services Authority (FSA), H.E. Sok Dara, Director General of the Trust Regulator signed a Memorandum of Understanding (MOU) concerning "Cooperation on Raising Public Awareness and Promoting Participation in Trust Sector in the Kingdom of Cambodia" with Zillennium Co., Ltd represented by Mr. Kuy Vat, Chairman of Zillennium Co., Ltd and with Cambodian Valuers and Estate Agents Association (CVEA) represented by Mr. Chrek Soknim, President of Cambodian Valuers and Estate Agents Association at Raffles Hotel Le Royal. Within this MOU scope, Trust Regulator will establish cooperation on raising public awareness and promoting participation in trust practice by Zillennium Co., Ltd who is a network of approximately 30 businesses, providing innovative technology platform and Real Estate supporting services and by CVEA, whose members of approximately 130 are potential founders, entrepreneurs, businesspeople in estate valuer market and are estate supporting services providers, to well understand trust practice mechanisms, be capable of conducting and taking advantages of trust practice for their businesses, as well as participating in the trust sector through public awareness raising and dissemination. TRUST refers to the fiduciary relationship in which the trustor places trust and confidence to manage, administer and act on behalf and for the benefits of the beneficiar(ies). Trust mechanism will enhance investor confidence in relevant sectors, including the real estate sector. The MOU signing ceremony was attended by His Excellency Sou Socheat, Delegate of the Royal Government, in charge as Director General of the Securities and Exchange Regulator of Cambodia, the management and technical officials of the Securities and Exchange Regulator of Cambodia and of the Trust Regulator, Chairmans/Chief Executive Officers and management who are members of Zillennium Co., Ltd and of CVEA, trustee companies and related service providers in the trust sector. This MOU Signing Ceremony was a success and bears fruitful results.
On Friday Afternoon, 9 September 2022, honored to be granted permission by H.E. Akka Pundit Sopheacha Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance and Chairman of the Non-Bank Financial Services Authority (FSA), Trust Regulator signed a Memorandum of Understanding (MOU) with CEO Master Club concerning "Cooperation on Raising Public Awareness and Promoting Participation in Trust Sector in the Kingdom of Cambodia" under the presidency of H.E. SOK Dara, Director General of Trust Regulator and Dr. OM Seng Bora, Founder of CEO Master Club.
Within this MOU scope, both sides will establish cooperation on raising public awareness and promoting participation in trust practice to members of CEO Master Club who are potential founders, entrepreneurs and businesspeople and play a significant role in business activities in Cambodia, to ensure their well understanding of trust practice mechanisms, capability to participate in trust practice and take advantages of their trust business and as well boost the development of trust sector sector in Cambodia through raising public awareness and dissemination.
On the afternoon of Thrusday, 26 August 2022, honored to be granted permission by H.E. Akka
Bandit Sapheacha Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance, and
Chairman of the Non-Bank Financial Services Authority (FSA), H.E. SOK Dara, Director General of
Trust Regulator (TR), and Mr. Seang Sopagna, President of Young Entrepreneurs Association of
Cambodia (YEAC), signed a Memorandum of Understanding (MOU) on "Cooperation on Raising Public
Awareness and Promoting Participation in the Trust Sector in the Kingdom of Cambodia".
The MoU is designed to:
(1) raise awareness of the trust sector to the members of YEAC, to be
able to prepare to invest in the trust sector in Cambodia, as well as the strengthening of the
management, organization and operation of the trust operation,
(2) develop the trust sector in
Cambodia by raising awareness, preparedness and operation of the trust sector, as well as
encouraging young entrepreneurs in Cambodia to participate in the trust sector as well as to
invest in this sector, and
(3) strengthen and develop young entrepreneurs in Cambodia by helping
their members gain a better understanding of the latest developments in the financial sector,
increase investment options through various sources, strengthen management, organization and
operations related to the trust also intends to contribute to the development of the national
economy based on the market system.
The MOU signing ceremony was attended by representatives of the line-regulators under the
Non-Bank Financial Services Authority (FSA), management and officials of TR, members of YEAC,
Trust companies and individuals who provide services in the trust sector.
On the morning of Tuesday, 23 August 2022, honored to be granted permission by H.E. Akka Bandit Sapheacha Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance, and Chairman of the Non-Bank Financial Services Authority (FSA), H.E. SOK Dara, Director General of Trust Regulator (TR), and H.E. KHIM Vuthy, Director General of National Television of Cambodia (TVK), signed a Memorandum of Understanding (MOU) on "Cooperation on Raising Public Awareness and Promoting Participation in the Trust Sector in the Kingdom of Cambodia". The purpose of this MoU is to establish a partnership between the TR and TVK in raising public awareness of the development process of the trust sector in Cambodia by organizing programs to promote awareness about trust sector, trust mechanisms, eligibility requirements for trust operation, related legal frameworks, benefits of trust operation, building confidence in business and fund inflows in all sectors in the economy and society. The MOU signing ceremony was attended by H.E. BOU Tharin, Director General of Accounting and Auditing Regulator, H.E. KOCH Meardy, Deputy Director General of TVK, representatives of the line-regulators under the Non-Bank Financial Services Authority (FSA), management and officials of TR, Trust companies and individuals who provide services in the trust sector.
On the morning of Tuesday, 16 August 2022, honored to be granted permission by H.E. Akka Bandit Sapheacha Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance, and Chairman of the Non-Bank Financial Services Authority (FSA), H.E. SOK Dara, Director General of the Trust Regulator (TR), and Mr. Soeun Say, CEO of Cambonomist, signed a Memorandum of Understanding (MOU) on "Cooperation on Raising Public Awareness and Promoting Participation in the Trust Sector in the Kingdom of Cambodia". The purpose of this MoU is to establish a partnership between the TR and Cambonomist to raise public awareness of the development process of the trust sector in Cambodia, trust mechanism, eligible requirements to do the trust operation, related legal framework, benefits of the trust operation, building and establishing confidence in business and the flow of fund to all sectors in the economy and society. The signing ceremony of the Memorandum of Understanding was attended by representatives of the in line regulators under the Non-Bank Financial Services Authority (FSA), the management and officials of the TR, the trust company and companies which provide services in the trust sector.
