Condo Law sent back to the drawing board

Weaknesses in the recently completed draft Condominium Law need to be addressed before it can be promulgated, according to officials from the Department of Human Settlement and Housing Department (DHSHD). Although it is targeted to become law this year, some in the industry have pointed to a number of problems with the current draft. Virtually […]

Lack of financial evidence hampers SME loans

Myanmar’s banks are facing difficulties in offering loans to small- and medium-sized enterprises (SMEs) as the firms cannot submit their collateral and balance sheets, according to the Ministry of Industry. The banks face a lack of evidence of collateral, receipt and payment accounts, balance sheets and cash flow records, and higher transition costs than commercial […]

Rice federation to introduce Warehouse Financing at Apex

The Myanmar Rice Federation plans to open several warehouses for rice traders to store their product for use as collateral to receive bank loans, said its chair U Chit Khaing. The system would alleviate the need to sell rice immediately even if prices are low to pay for a sudden expense. Instead, traders will be […]

Who will benefit from Condominium Law?

Daw Min Min Soe only realised there was a problem with her apartment when officials from the bank arrived at her building and put up a notice reading, “If the owner fails to repay the loan and interest we will seize the apartments. he owner of the land in Pazundaung township had developed the eight-storey, […]