National Bank Appoints Deputy Governor

Banking expert Eng Thai San has been appointed the new deputy governor for the National Bank of Cambodia, which be­came vacant when Sum Nipha retired from the position this week after four years of service.

Eng Thai San (Fun) took office Monday when King Norodom Sihanouk formally approved the nomination. Prime Minister Hun Sen agreed with a recommendation for the appointment from National Assembly President Prince Norodom Ranariddh, according to a bank statement.

“Eng Thai San has many years of experience in banking and he has great potential to serve the National Bank and the country,” Prince Ranariddh wrote in his letter recommending the French-educated banker be appointed.

The new deputy governor has worked for commercial banks in France and the Central Bank of France, according to the letter dated Oct 26. He obtained a master’s degree in economic science in France and has expertise in economy, finance and banking, another Funcinpec member said.

“The party appointed the right person because Eng Thai San has enough experience in fi­nan­ce and banking,” said Oum Dara­­vuth, secretary of state for the Ministry of Information.

Meanwhile, the retired former deputy governor on Thursday was appointed a personal adviser to the King.

“I am very proud of myself because the King appointed me a great position that I have never dreamed of,” said the 61-year-old banker.

Before joining the National Bank in 1995, Sum Nipha worked for years with banks in Cambodia, she said. During her four years as deputy governor, she was involved in reform efforts of the banking system, the stabilization of riel and human resource development at the bank, she said.

Sum Nipha became deputy bank governor after Tioulong Saumura, the wife of opposition leader Sam Rainsy, resigned from the post. Tioulong Saumura alleged that government officials obstructed her efforts at reform.

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