This year’s annual cycling event was organised in Preah Sihanouk province to encourage sustainability in the banking sector and promote the use of Cambodian riel on October 29. PREAH SIHANOUK PROVINCIAL ADMINISTRATION
The Association of Banks in Cambodia (ABC) held their annual Bankers’ Cycling event in Preah Sihanouk province on October 29.
This year was the third such event organised by the ABC. This year’s theme was “Promoting Khmer riel and sustainability in the banking sector”.
The event featured a full day of activities, beginning with a bicycle ride, and included keynote addresses and opportunities to exchange experiences.
Yim Leat, deputy governor of the National Bank of Cambodia (NBC), highlighted the humanitarian role the banking and financial sector plays through a wide range of activities, including blood drives, philanthropy, the construction of pre-schools in Kampong Chhnang and Kampong Thom provinces and support for the Cambodian Red Cross (CRC). The sector also benefits the Kingdom through investment in infrastructure, human resource training and environmental protection efforts.
He said the cycling event demonstrated unity, camaraderie and a commitment to encouraging tourism, investment, environmental stewardship and the utilisation of the riel by the banking sector.
“I encourage all members of the public, especially the young, to advocate for the use of riel, environmental preservation and tourism,” he added.
On October 30, Preah Sihanouk provincial deputy governor Mang Sineth highlighted the event’s dual purpose: to raise public awareness regarding the progress of the banking sector and to encourage tourism and the use of the riel alike.
He also believed the event demonstrated the financial sector’s collaboration, solidarity and resilience, ultimately enhancing their credibility and ensuring the sustainable longevity of the banking sector and the use of riel.
“We hope this event will convey a message to the public, encouraging them to understand the societal and economic advantages of banks. We also encourage everyone to endorse the use of the riel,” he added.
He explained that by 2030, the government envisioned the coastal province’s development into a sustainable developmental hub. This would include roles as a versatile special economic zone (SEZ), a pivotal national growth centre, a central logistics hub and an industrial focal point for technology-oriented products. The province is positioned as a vital bridge connecting ASEAN with global markets, all within an environment conducive to harmonious living.
According to the ABC, the province is currently home to 26 commercial bank branch offices and two specialised bank branch offices, along with 10 microfinance institutions and three leasing companies, which provide financing for the purchase of heavy machinery.
