Microfinance in Myanmar: A Silver Bullet to Stamp out Poverty?

  The passing of the Microfinance Law in 2011 led to a rapid influx of Microfinance Institutions (MFIs) in Myanmar. As of December 2015 there were over 256 MFIs operating in Myanmar, all competing to crack the estimated 33 million unbanked residing here. It is believed informal money lenders charging extortionate interest rates will become […]

No Thai banks among 2nd round of Myanmar licensees

YANGON – No Thailand banks were among 13 institutions that answered a call from Myanmar’s central bank for expressions of interest in a second round of foreign bank licensing aimed at further liberalising a sector that was previously off-limits to international players. Eight of the banks listed in an official central bank statement on Feb […]

MIC approves 31 investments in January

The Myanmar Investment Commission approved 31 new local and foreign projects in January, mostly in the real estate and garments sectors, according to figures published by the Directorate of Investment and Company Administration. Of these, 15 were foreign, adding to the 138 international investments approved by the MIC since the start of this fiscal year. […]

FDI poised to flow on Myanmar’s political transition

Myanmar’s landmark November polls, lauded by international observers, may have given pause to foreign investors weighing the market — but the country’s political transition could attract a new rush of attention, according to industry experts. Once isolated under the regime of a military junta, Myanmar has made great strides in development under quasi-civilian rule. The […]

Novoair starts flight to Yangon

Novoair yesterday started an international flight to Yangon in Myanmar. The airline will run three weekly flights between Dhaka and Yangon on Sundays, Tuesdays and Fridays with Embraer ERJ145 aircraft, the carrier said in a statement. The airline will charge Tk 22,222 for a two-way ticket, according to the statement. Novoair is also offering a […]

Myanmar Millennium Group and Atos sign for banking services

In another sign Myanmar’s financial services industry is moving forward, French digital services firm Atos has made its market debut through a partnership with Myanmar Millennium Group (MMG), with the two businesses signing a memorandum of understanding on October 17. The link-up, which will bring Atos’ banking service offering to Myanmar, connects the foreign IT […]

KBZ Eyes Niche Market with Credit Card

Local lender KBZ Bank has launched Myanmar’s first credit card recently, eyeing to tap into big businesses and high-income individuals’ needs for credit card in the country. Launched late last month, there were 500 applicants at the beginning, which has grown in its first week to 600, according to KBZ officials. U Nyo Myint, managing […]

KBZ Bank Ties Up with Taiwan’s Cathay United Bank

Local lender Kanbawza Bank Ltd (KBZ) has signed a memorandum of understanding (MoU) with Taiwan’s Cathay United Bank (CUB) in a bid to promote collaboration between the two banks in a number of areas. The two banks will collaborate closer in areas including international banking services, technical assistance, staff training, interbank business, syndication loans and […]

Indian Agri Logistics Group Ties Up with United Amara Bank for Collateral Financing

Indian agri logistics and warehousing company SLCM Ltd, a wholly-owned subsidiary of Sohan Lal Commodity Management Group, has signed a memorandum of agreement with local lender United Amara Bank (UAB) for collateral financing in Myanmar. The move is aimed at strengthening the network for providing collateral management solutions to farmers, processors, traders, exporters and importers […]