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39th ASEAN Banking Council Meeting

Held on 20th November 2009 in Phnom Penh, Cambodia

On 18 and 19 November, 2009, the Association of Banks in Cambodia played host to more than 150 bankers on behalf of the ASEAN Bankers Association (ABA) at its 39th ASEAN Banking Council Meeting. This was a historic moment for Cambodia as this was the first time the country hosted the ASEAN Banking Council Meeting. The venue of this meeting was set in the luxurious InterContinental Hotel, Phnom Penh.

The ABA is an association of banks set up in 1976. The member countries in ABA are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. The ASEAN Banking Council Meetings are held every year with the objective of bringing representatives from the 10 National Banking Associations to draw out ideas and to work towards the objectives of the Association, one of which is to foster friendship and cooperation amongst bankers in the ASEAN countries.

The meeting started with a welcome speech by Mr. Pung Kheav Se, Chairman of the Association of Banks in Cambodia and President & CEO of Canadia Bank PLC. Mr. Pung began by stressing that Cambodia and its banking system have benefited greatly from membership in Asean. He explained that the Royal Government and the private sector in Cambodia welcome new investment. In this context he said that agriculture and medium scale manufacturing should be particularly attractive areas for new ventures as the country seeks to diversify its economic base.

Mr. Apisak Tantivorawong, Chairman of Asean Bankers Association, Chairman of Thai Bankers Association and President of Krung Thai Bank, also delivered his opening remarks. Mr Apisak expressed his thanks to the Association of Banks in Cambodia for the effort and time spent in organising this important event.

This year, the ABA had the privilege of having Her Excellency, Neav Chanthana, Deputy Governor, National Bank of Cambodia, deliver the keynote address. HE Neav stressed the importance of intra- regional co-operation amongst central banks and regulators, as well as among commercial banking institutions. She also noted the need to monitor and implement new national and international regulations arising from the Basel II accord. In addition, she said that regulators and banks will have to update their “best practices” after the recent global financial crisis.

At the Council Meeting, the outcome on the implementation of the previous year’s programs were discussed, and new programs proposed by the three Permanent Committees were approved for implementation in 2010:

  Permanent Committee on Banking Education
• For a more cost effective access to training programs, the Committee plans to disseminate course syllabi via the website for access by the national associations, and to make courses available online.


Permanent Committee on Cooperation in Finance, Investment and Trade (COFIT)
• A US$54 million infrastructure financing opportunity involving a Hydropower Project in Vietnam was presented for members’ consideration.
• It was agreed that Singapore will host a workshop in 2010 to study the mitigation of risks arising from derivatives and other financial instruments in accordance with Basel II standards.


Permanent Committee on ASEAN Inter-Regional Relations
• A liaison and study mission which was earlier planned for August 2009 was deferred in view of the A(H1N1) virus outbreak and will be rescheduled. The purpose of the study trip will be to exchange experiences and information on banking practices as well as to strengthen regional ties.

The Council members unanimously elected Dr Pham Huy Hung as the new ABA Chairman. His term will be effective immediately after the 39th Council Meeting. Dr Pham is the Chairman of the Vietnam Banks Association as well as the Chairman of the Vietnam Bank for Industry and Trade.

The next ASEAN Banking Council Meeting and Conference will be hosted by the Indonesian Banks Association (Perbanas) in Bali, Indonesia from 10 to 12 November 2010.

Issued by:
Teh-Kwok Chui Lian (Mrs)
Secretary General
ASEAN Bankers Association
Email: aba@afcmb.com
Tel: (65) 62247155

Dear Fellow Bankers

This year, the 39th Asean Banking Council Meeting will be held in Phnom Penh, Cambodia from 19th to 20th November 2009. On behalf of the ASEAN Bankers Association (ABA), I would like to welcome all our dear colleagues and friends in the banking industry to attend this meeting. This is the first time the Association of Banks in Cambodia (ABC) is hosting the Council Meeting. I am sure the Association of Banks in Cambodia has given a lot of thought and careful planning to prepare for this historic event. I would encourage all of us to give our full support to the Association of Banks in Cambodia to make this yet another fruitful meeting in the history of the ABA.

I believe all members of the ABA will continue to participate actively in the scheduled meetings of the different Permanent Committees, and provide your valuable feedback or comments.

The ABC has already arranged some interesting programs during the Council Meeting for you and your accompanying guests. There will be a golf tournament and a tour of historic sites. I do hope that all of you will find these programs thoroughly enjoyable.

I look forward to seeing you at this important event of the year.

It gives me great pleasure to extend a very warm welcome to all the delegates to the 39th ASEAN Banking Council Meeting to be held in Phnom Penh, Cambodia, from 19th to 20th November 2009.

This is the first time that the ASEAN Bankers Association (ABA) is holding its annual Council Meeting in Cambodia and the Association of Banks in Cambodia is honoured to be the host for the 39th Annual ASEAN Banking Council Meeting.

Since becoming a member of ABA, the Association of Banks in Cambodia had hosted and co-organized with ABA several workshops and seminars on banking and investment related subjects both in Phnom Penh and Siem Reap. Our Association also had the honour of co-organizing the First Project Investments and Finance Opportunities in CLMV Conference with ABA to promote investments into CLMV. The Conference had attracted more than 150 participants from the banking and investment communities in ASEAN.

Cambodia has enjoyed political stability and rapid economic growth for the past decade and is now on the investment map of many businessmen. The country has many favourable factors for foreign investors, including large fertile land for agricultural investments, and is home to two UNESCO World Heritage sites, beautiful beaches and rich rain forest reserves for further development of the tourism industry.

Angkor Wat temple in Siem Reap is easily accessible and just forty minutes flight from Phnom Penh. We strongly encourage you to set aside some time to visit Angkor Wat.

We hope that you will also take this opportunity to learn more about Cambodia’s developmental potential. We welcome and encourage you and your clients to come and invest in our country.

Lastly, we wish you a fruitful meeting and an enjoyable time during your stay in Phnom Penh, Cambodia.

Wednesday, 18th November 2009 Arrival and Check-in at InterContinental Hotel, Phnom Penh
12.00 pm - 8.30 pm	Registration, Business Centre (2nd floor)
Thursday, 19th November 2009
8.00 am - 8.30 am	Registration, Grand Ballroom (Lobby level)
8.45 am – 11.00 am	Simultaneous Meetings of Permanent Committees: Permanent Committee on Co-operation in Finance, Investment & Trade (COFIT) Permanent Committee on Banking Education Permanent Committee on ASEAN Inter-Regional Relations
11.30 am – 12.30 pm	Lunch at Imperial 1
12.30 pm – 5.30 pm	Tour of Historical Sites (for Non-Golfers) Golf Tournament at Royal Phnom Penh Golf Club
7.15 pm onwards	Buffet Dinner at Himawari Hotel (Dress code: Smart Causal)
Friday, 20th November 2009 39th ASEAN Banking Council Meeting
8.00 am - 8.30 am	Registration, Grand Ballroom (Lobby level)
8.30 am – 8.40 am	Welcome remarks by Mr Pung Kheav Se Chairman, Association of Banks in Cambodia
8.40 am – 8.50 am	Opening remarks by Mr Apisak Tantivorawong Chairman, ASEAN Bankers Association
8.50 am – 9.15 am	Keynote address by Guest of Honor, H.E. Dr CHEA Chanto, Governor, National Bank of Cambodia
9.15 am – 9.45 am	Photo taking [Heads of Delegation & Guest of Honor] / Coffee break
10.00 am – 11.45 am	ASEAN Banking Council Meeting Report of the Permanent Committee on Co-operation in Finance, Investment & Trade (COFIT) Report of the Permanent Committee on Banking Education Report of the Permanent Committee on ASEAN Inter-Regional Relations Appointment of new ABA Chairman
12.00 pm – 2.00 pm	Lunch at Imperial 1