Visa and National Bank of Cambodia form alliance to promote financial literacy
Visa, the global payments technology company, has signed a Memorandum of Understanding (MOU) with the National Bank of Cambodia to support financial literacy initiatives in Cambodia.
The three-year collaboration will begin with Visa supporting the National Bank of Cambodia on the production of 30,000 “Let’s Talk Money” financial literacy comic books, to be distributed in schools. Subsequent activities will see Visa helping to develop a five-year financial literacy plan for Cambodia, a financial literacy school curriculum, and training school teachers to be able to share financial literacy skills with their students.
Sean Preston, Visa Country Manager for Vietnam, Cambodia, and Laos, said: “It gives us great pleasure to sign this Financial Literacy Memorandum of Understanding with the National Bank of Cambodia. We believe the most important financial tool for individuals and economies to prosper is knowledge. As such, we look forward to working together with the National Bank of Cambodia to develop financial literacy programs that will positively impact the lives of Cambodians across the country.”
According to H. E Chea Serey, Director General of the National Bank of Cambodia, financial education has always been the NBC’s focus in building sustainable banking system. It is the first line of defend because when financial consumers can make a better informed decision, they can protect themselves from frauds and improve their economic wellbeing through proper choosing and using of financial products and services. Rooting financial literacy for children from young age will be the most effective way to get them equipped and prepared for future financial access and usage. The NBC has been partnering with a number of public and private organizations and relevant stakeholders in conducting a number of financial literacy initiatives. Visa’s support on Let’s Talk Money and other financial literacy program will be the key to unblock the door to a more inclusive growth.
For more than 20 years Visa has partnered with governments, schools, banks and NGOs, to develop financial literacy programs that teach individuals how to spend, save and budget responsibly. Visa’s financial literacy programs are global in reach and scope. Financial education challenges are diverse, so Visa develops content that is tailored to meet different cultural, language and sophistication needs, regardless of age, education or geography.
For more information on Visa’s financial literacy resources please visit www.practicalmoneyskills.com.
Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit www.visa.com