Friday, 27 Dec 2024 18:50:15
Trust Regulator and Kep Administration co-organized a dissemination workshop on “ Prakas on Rules for Supervision, Organization and Functioning of Trust and Relevant Regulations in the Trust Sector"
2024-12-09 09:26:00

On Monday morning, December 9, 2024, the Trust Regulator (TR) and Kep Administration co-organized a dissemination workshop on “ Prakas on Rules for Supervision, Organization and Functioning of Trust and Relevant Regulations in the Trust Sector" under the high presidency of H.E. SOK Dara, Director General of the Trust Regulator and Mr. Im Panharith, Deputy Governor of Kep Administration, at the Sangkahak Mith Hotel of Kep. This outreach workshop was organized in order to spread a broader understanding to provincial departments and units, three-type armed-forces in Kep, other stakeholders, as well as the public about what is trust? What are the mechanisms and operations of the trust? How it can be established and registered legally? In this workshop, H.E. SOK Dara also highlighted the role and importance of trust mechanism in building trust, and in promoting safe and secured investment mechanism so that it can contribute to the development of the existing business projects in Kep to some extent, in accordance with the policy of the Royal Government and within the framework of laws and regulations in force. As of today, there are 1,106 trusts that has been established and registered with the trust funds account for around USD 1,741 billion, and also there are 36 licensed/authorized trustee operators of which 13 are trust companies and 23 are trustee operator providing retention or escrow services (commercial banks), and there are 66 licensed individual trustees as well as 16 valuation companies and other 15 audit firms which have been accredited by the TR. The workshop was also attended by the management and representatives from related provincial departments and units under Kep administration, three-type armed forces in Kep, members of the Chamber of Commerce, and related business associations in Kep, as well as representatives from trust companies, trustee operators providing retention and escrow services (commercial banks) and independent individual trustees who has been licensed and authorized by the TR.


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