Financial Sector Development Strategy: Cambodia
Themes: Capacity Development | Economic Growth | Governance | Private Sector Development | Regional Cooperation
Guinness Gallagher fielded a team of international and national financial sector experts to analyze the financial sector in Cambodia and review the policy, legal and regulatory framework to identify gaps and/or challenges within the financial sector that needed to be addressed by policy prescription adjustments in order to guide financial sector development in Cambodia for a five year period. The review was undertaken over a six month period working closely with the National Bank of Cambodia, Ministry of Economy and Finance and Ministry of Commerce.
Fielding a team of accounting, capital markets, microfinance, insurance, leasing, legal and central banking experts, Guinness Gallagher:
- Reviewed the operations of the financial sector participants and the policy, regulation and legal framework guiding them;
- Assessed the achievement of the government regulatory and line agencies to assess progress against self-set targets, including analyzing the Financial Management Information System for the National Bank of Cambodia; and
- Assisted in the development of a forward looking financial sector strategy.
As part of the review process, our team undertook extensive stakeholder consultation in order to ensure that the appropriate information was both captured and interpreted correctly. The overall objective of the project was to develop a sound, market based financial system to support resource mobilization and sustainable economic growth in the developing market economy of Cambodia.
The themes and sectors covered by this project were as follows: -
| Theme | Sub-Theme |
|---|---|
| Capacity Development | - Client relations, network and partnership development |
| - Institutional development | |
| - Organizational development | |
| Economic Growth | - Developing rural areas |
| - Developing urban areas | |
| - Knowledge, science and technological capacities | |
| - Promoting economic efficiency and enabling business environment | |
| - Promoting macroeconomic stability | |
| - Widening access to markets and economic activities | |
| Governance | - Anti-corruption |
| - Economic and financial governance | |
| - Law and judiciary | |
| - Public administration (national, decentralized, regional) | |
| Private Sector Development | - Policy reforms |
| Regional Cooperation | - Money and finance | Sector | Sub-Sector |
| Finance | - Banking systems and non-bank financial institutions |
| - Central banking systems | |
| - Financial sector development | |
| - Inclusive finance | |
| - Infrastructure finance and investment funds | |
| - Insurance and contractual savings | |
| - Money and capital markets | |
| - Small and medium enterprise financing and leasing | |
| - Trade finance | |
| Public sector management | - Economic affairs management |
| - Law and judiciary | |
| - Public administration | |
| - Public expenditure and fiscal management |
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