French bank slapped with fine for deals done under sanctions

Leading French bank BNP Paribas said it would face no difficulty in absorbing the record multi-billion-dollar fine slapped on it by US authorities for breaking sanctions against pariah regimes. Under the overnight deal, BNP Paribas accepted guilt and a number of penalties totalling $8.9 billion (6.5 billion euros) for organising ways to enable Myanmar, as […]

Four Thai banks vie for licences in Myanmar

Thai banks with representative offices in Myanmar have a strong interest in applying for restricted-services licences, after that country recently opened up for such applications from foreign banks for the first time. Four Thai banks have representative offices in Myanmar – Bangkok Bank, Krungthai Bank, Siam Commercial Bank and Kasikorn-bank. If they can obtain the […]