Condominiums not covered by Condo Law

Nearly all of Yangon’s recently constructed “condominiums” may not qualify as condominiums under the draft Condominium Law, according to Yangon City Development Committee engineering deputy director U Nay Win. The draft law has been submitted to the Pyithu Hluttaw, but it stipulates a condo must be built on freehold land or land that was granted […]

‘We Are Worried That All Our Talented Employees Will Move’

Late last year, the Central Bank of Myanmar announced that they will allow some foreign banks to begin offering limited financial services in 2014. Thirty four international banks have opened representative offices in Myanmar after gaining Central Bank approval. The conditions under which they will be allowed to begin offering banking services remain unclear, however, […]

Joint Ventures, Branch Offices First on Offer to Foreign Lenders: CB Official

YANGON — An easing of restrictions will likely allow foreign banks to enter into joint ventures with local lenders and open branch offices in Myanmara, according to Khin Saw Oo, deputy governor of the Central Bank. Responding to a report from Reuters that Myanmara would allow some foreign banks to start offering limited financial services […]