The Preah Srey Içanavarman Museum of Economy and Money (SOSORO) and the Association of Banks in Cambodia (ABC) have renewed their Memorandum of Understanding (MoU), extending their successful partnership to promote economic literacy among Cambodian youth under the same conditions as the initial agreement signed in March 2024.
The signing ceremony was held on February 19 under the witness of Dr Sum Sannisith, Deputy Governor of the National Bank of Cambodia, at the SOSORO Museum.
Building on the achievements of the past year, the renewed MoU on the “Banking Sector Programme for Economic Literacy” reaffirms the banking sector’s commitment to economic education, a press release issued on February 20 said.
This initiative increases access to the National Bank of Cambodia’s SOSORO Museum for public school students, with the help of key banking and financial services partners.
To date, the initiative – where Cambodian private banks contribute to a fund covering transport and visit costs – has provided educational opportunities to about 9,000 students from public schools in Phnom Penh and its periphery, as well as from Kampong Thom province, enhancing their cultural exposure and their understanding of Cambodia’s monetary and economic history.
This MoU signifies more than just a formal agreement; it is a promise to our children, allowing them to see in practice what they learn at school. These visits provide them with knowledge, helping them understand the value of money and the history of our currency and economy, said ABC Chairman Rath Sophoan.
“By fostering financial literacy from an early age, we are not only preparing our youth for personal success but also contributing to the economic resilience and prosperity of our nation as a whole,” Rath Sophoan said.
This successful partnership has already allowed thousands of public school students to learn about Cambodia’s economic and monetary history, thus strengthening the inclusiveness of the SOSORO Museum, said Blaise Kilian, Co-Director of the SOSORO Museum.
“We are grateful to the Association of Banks in Cambodia and its members for their generous commitment to economic education, and we look forward to continuing our cooperation and expanding its reach to more schools in Phnom Penh and the provinces”, he said.
Dr Sum Sannisith said that public-private cooperation is necessary for the advancement of our society. The renewed MoU is effective immediately and will remain in force until December 31, 2025, with the possibility of further renewal. AKP
