MEB, six private banks to lease K30 billion to SMEs

Myanma Economic Bank, teaming up with six private banks will give K30 billion loans to small and medium enterprises (SMEs), according to Ministry of Industry. The country’s SMEs can acquire loans from the Myanma Oriental Bank, Ayeyawady Bank, from Co-Operative Bank (CB), commonly known as CB Bank, the Myanmar Citizens Bank, the Kanbawza Bank and […]

New Companies Act to relieve some burdens on SMEs

The upgraded Myanmar companies act will remove some burdens on small and medium enterprises, according to the Directorate of Investment and Companies Administration (DICA). “We have upgraded some of the provisions (of the existing Myanmar companies act) to be in line with the current situations and to help promote the SMEs and small companies in […]

Bank Negara Indonesia to open representative office in Myanmar

State lender Bank Negara Indonesia (BNI) is due to open its first-ever representative office in Myanmar in November to facilitate the expansion of fellow state-owned enterprises (SOEs) in the neighboring country. According to the deputy general manager of BNI’s international division, Rahmad Hidayat, the bank will submit a proposal to Myanmar’s central bank next week. […]

Unreliable networks stem cash flow at Myanmar’s ATMs

Myanmar, one of the final frontiers for the international financial system, now boasts over 2,000 automatic teller machines (ATM) and credit card services provided by global brands such as MasterCard and Visa. Yet in a country where electricity is provided in fits and spurts, and internet connection is difficult to guarantee, online banking and ATM […]