Cambodia’s Finance Ministry and Thailand’s Office of Insurance Commission (OIC) have signed an agreement that aims to bolster insurance regulation in Cambodia.
This marks the first time a memorandum of understanding has been signed by the two nations for a broader cooperation in the field of insurance.
Mey Vann, director of the department of industry and finance at the ministry, said that with the agreement in place, both regulators will continue expanding and strengthening cooperation through technical assistance to one another and information exchanges.
Cambodia and Thailand will also implement capacity-building initiatives to boost the role of regulation in ensuring stability, effectiveness and prosperity in the insurance market.
Suthiphon Thaveechaiyagarn, secretary-general of the OIC, welcomed the partnership and expressed gratitude to Cambodia for making the agreement possible.