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ASEAN Central Bank Governors Meeting and Financial Institutions CEOs Dialogue

On the afternoon of Thursday, April 7, 2022, Mr. Raymond Sia, Chairman of the Association of Banks in Cambodia (ABC) and CEOs of Banks and Financial Institutions in Cambodia and across the ASEAN region attended the ASEAN Central Bank Governors Meeting and Financial Institutions CEOs Dialogue. The event was also linked to the 26th ASEAN Finance Ministers’ Meeting (AFMM), the 18th ASEAN Central Bank Governors’ Meeting (ACGM), and the 8th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM).

Mr Raymond Sia welcomed all Chairs & Delegates from the 10 National Bankers Associations and ASEAN Member States (AMS). He highlighted that our countries and our people are deeply connected, and that the event will deepen the connection. All AMS have shown tremendous economic growth over the last decade and all ASEAN people enjoy a better standard of living than ever before. The journey will continue with the strengthening of cooperation on the ASEAN level, in particular through technology & innovation for a more resilient economy & society. 
The Meeting and the Dialogue provided an important platform for all parties to contribute and raise important topics towards the reinforcement of ASEAN banking sector & financial cooperation. In line with this perspective, the ASEAN Bankers Association presented discussion notes on last year’s updates on 1) the ASEAN Banking Interoperable Data Framework and 2) the ASEAN Interoperable QR Code Initiatives. And last but not the least, ABC presented their topic on Enhancing Financial Connectivity across the ASEAN Region. 

This year’s Dialogue focused on remittances as part of financial inclusiveness. Cross-border transactions are at the core of the agenda to support various sectors of the economy especially in tourism industry, as well as financial liquidity in the ASEAN system is to be enhanced. ABC topic presentation was followed by a Q&A Session from various participants including Delegates from the Central Banks from Malaysia, the Philippines, Myanmar, Singapore. The proposal is compelling and we shall leverage on our existing concepts.

Such collaboration between AMS will further enhance digital connectivity landscape across ASEAN, which in turn will improve the livelihood of our people. This betterment is possible thanks to the numerous banking services made available through mobile applications, thus, making the productivity of the overall eco-system increase in an unprecedented pace.