Malaysian Insurance Institute Signs Agreement with Cambodia Insurance Ass’n.

March 3, 2014

The Malaysian Insurance Institute (MII) and the Insurance Association of Cambodia (IAC) have signed a Memorandum of Understanding (MoU) for “a bilateral collaboration to forge a beneficial business relationship to further enhance insurance knowledge and skills development for the insurance industry in Cambodia,” said a bulletin from the MII. The signing took place at the Ministry of Economy and Finance Cambodia office in Phnom Penh, Cambodia.

The MII explained that the MOU formalized its “close relationship and collaboration with IAC. MII and IAC both have the same aspirations and are committed to work together towards developing the human capital of the insurance industry in Cambodia. With this commitment, IAC will fully support MII to expand and provide the Institute’s professional qualifications as well as training programs to the Cambodian insurance fraternity.”

MII CEO Khadijah Abdullah and IAC Chairman Chhay Rattanak signed the MoU at ceremony, witnessed by Her Excellency Nguon Sokha, Secretary of State of Ministry of Economy and Finance of Cambodia and attended by top officials from the Ministry and key industry leaders.

The MII’s bulletin noted that Khadijah Abdullah in her address at the signing ceremony described it as a great honor not just for MII but also for Malaysia, evincing the trust and confidence in the quality of the Institute insurance professional qualifications and training programs.

“This MoU is a very encouraging and positive step to further strengthen the collaboration between MII and IAC,” she said. “This collaboration is not new as we have been working with the insurance industry in Cambodia since 2005 and this MoU is especially special to us as it signifies IAC continued trust and confidence in MII. We see this as an important next phase with increased excitement and support, in tandem with the rapid growth of the industry. We are also proud that the up and coming industry leaders in Cambodia who will play a key role for the future progress of the industry, are our MII graduates,” she added.

The MII also explained that it has “been successfully conducting the Associateship of the MII (AMII) and the Diploma of MII (DMII), its two flagship insurance professional programs in Cambodia since 2005.”

The MII was founded in 1968 as a non-profit organization, It is the country’s “custodian of standards,” and now has “over 40 years of experience in the Malaysian market.” I has “significantly contributed to the insurance professional education development in various emerging markets and the Asian region,” said the bulletin, and has always prided itself in “playing a part to champion the national agenda in positioning MII and Malaysia as the center for insurance education and training.”

Source: Malaysian Insurance Institute (MII)

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