AKP Phnom Penh, January 29, 2025 --

A capacity building workshop on "Housing Finance and Mortgage-Backed Securities" was held here on Jan. 27, aiming to promote awareness of housing finance needs and models, perspectives on mortgage-backed securities.

The workshop was co-organised by the Securities and Exchange Regulator of Cambodia (SERC), the Asian Development Bank (ADB), the ASEAN Secretariat (ASEC) and Japan Housing Finance Agency (JHFA) at the Non-Bank Financial Services Authority (FSA) building.

The workshop was attended by the managements and officials of the SERC, representatives from ASEC, Real Estate Business and Pawnshop Regulator, Social Security Regulator, Cambodia Securities Exchange, Cambodia Association of Securities Firms, Association of Banks in Cambodia, Commercial Banks, Fund Management Companies and Trustees, expert speakers with extensive experience in housing finance and mortgage-backed securities from the ADB, Nomura Research Institute Thailand and JHFA, with a total of 108 attendees.

"As we move forward, we envision a securities market that is not only dynamic and resilient but also a key driver of sustainable economic growth in the housing sector,” said H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of the SERC. “By introducing innovative instruments like mortgage-backed securities, we aim to empower investors, enhance access to affordable housing finance, and contribute to the broader development of our economy and society.”

Mr. Takahiro Yamakawa, Deputy Director of Regional Financial Cooperation Division, Ministry of Finance, Japan, said that through Japan-ASEAN Financial Technical Assistance Fund, Japan has assisted the bond market development of Cambodia over the past 20 years under the ASEAN+3 Bond Markets Initiative (ABMI).

“This important workshop shall help Cambodian regulators and market participants learn implications from the development paths of housing finance and mortgage-backed securities in Japan and ASEAN,” Takahiro Yamakawa said.

Mr. Satoru Yamadera, Advisor of ADB, emphasised that housing finance is increasingly becoming important especially for growing middle-income and low-income households in urbanising Asia.

“ADB, as a secretariat of ABMI, shall continue to assist Cambodian regulators to diversify financial products such as housing loan and mortgage-backed securities in the future,” he said.

This workshop also featured case studies related to Japanese housing finance and mortgage-backed securities in ASEAN countries such as Indonesia, Malaysia, Philippines, Thailand and Vietnam, highlighting best practices and regional applications for financial innovation.

By Chea Vannak