A Vietnamese delegation, led by Nguyen Toan Thang, General Secretary of the Vietnam Banking Association, is attending the 22nd ASEAN Banking Conference that kicked off in the Cambodian capital city of Phnom Penh on November 25.

The Vietnamese delegation to the conference (Photo: VNA)

Themed “ASEAN Connectivity 2025: A Brave New World of Digital Innovation for One ASEAN Banking Sector,” the event brought together more than 500 delegates, including leading financial service providers from 10 member countries of the Association of Southeast Asian Nations (ASEAN).

It was jointly held by the Association of Banks in Cambodia (ABC) and the ASEAN Bankers Association (ABA).

In his remarks, Governor of the National Bank of Cambodia Chea Chanto, lauded the strong development of the banking sector in Cambodia and the ASEAN as well after the global financial crisis.

The modernisation of the financial infrastructure and innovative technologies in the sector has helped to increase the efficiency of financial services for 600 million people in the ASEAN, he said.

Addressing the opening ceremony, In Channy, Chairman of ABC and President and Group Managing Director of ACLEDA Bank of Cambodia, said cooperation in the ASEAN helps ABA members learn from each other and compete equally to spur economic growth and social development in all ASEAN member countries.

The conference is focusing on such issues as digitalisation, financial technology, cyber security, blockchain and digital transformation in the banking and financial service sector.

Within the framework of the conference, the 49th ASEAN Banking Council Meeting will be held on November 26-27.

This is the first time Cambodia has hosted the biennial ASEAN Banking Conference that has been held alternately in ASEAN member countries.

The ASEAN groups 10 countries, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.