The regulatory body for Cambodia’s insurance industry signed a memor-andum of understanding (MoU) with its Thai counterpart to boost the sector’s operations, exchange technical assistance and encourage cross-border information sharing to strengthen each other’s regulatory capacity, according to a release by the Ministry of Economy and Finance (MEF) on Friday.

The head of the Financial Industry Department at MEF signed the MoU with representatives of Thailand’s Office of Insurance Commission, marking the first time that Cambodia has signed an insurance industry protocol with a foreign regulatory body and bringing the country closer to Asean standards for promot-ing a regional insurance industry framework, the release added.