Mobile financial services promising in Myanmar

A BOOM in mobile financial services (MFS) is anticipated, thanks to the rapid increase in penetration rate and poor infrastructure in Myanmar, according to Takashi Shigeno, director of KDDI Summit Global Corporation. He cited three main reasons for this. “Firstly, more than 70 per cent of the population live in rural areas. Secondly, only 20-25 […]

BTMU’s First Three Months Dealing Dollars in a Land of Kyat

Three months ago, Bank of Tokyo Mitsubishi UFJ (BTMU) won a race by hours to become the first foreign bank to have a branch in Yangon on April 22 this year. In the three months since, the financial behemoth has struggled with the kyat, but has overall found workarounds to the country’s schizophrenic economy. Like […]

Japan & Singapore big winners in foreign banking licence award

9 foreign banks have been awarded preliminary Foreign Banking License on 1st October 2014. The award of the banking licence also shows the influence that the countries that the banks come from – in financing development and trade in Myanmar with the rest of the world. The big winner is Japan with 3 banking licences. […]