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 […]

Uncertain Political Landscape Causes Further Instability to Kyat

RANGOON — An already-unstable exchange rate dropped again this week in the local market due to less demand, a change observers attributed to uncertainty ahead of Burma’s presidential nominations in Parliament. While the Central Bank’s rate remains at 1,230 kyats to one US dollar, the unofficial rate on the local market has dropped from 1,240 […]

Yangon Stock Exchange to Launch in December

The Yangon Stock Exchange is set to launch on Dec. 9, an official said on Monday, after three years of preparations to modernize Burma’s financial sector. Addressing CEOs and executive directors of ten underwriting firms, Chairman of the Securities and Exchange Supervisory Committee and Deputy Finance Minister Maung Maung Thein said the exchange, known as […]

CB Bank Introduces Internet Banking for Businesses

Cooperative Bank (CB) said it has launched a “business internet banking (iBanking)” service that will allow companies to grant authority to employees at different levels to manage the firms’ bank accounts. Authorised staff will be able to access and manage the companies’ accounts allowing them to issue wages, handle account maintenance, remit money to foreign […]

Telenor Myanmar highlights new services ahead of debut

Telenor Myanmar will offer post-paid services to companies and will send agents directly to their offices to pick up payments at the end of each month, according to an executive from the company. Ye Than, a marketing executive at Telenor Myanmar detailed the new payment services the company will introduce after it launches its service […]

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 […]

Myanmar to adopt Mobile Banking System

Most local banks are not capable of providing mobile banking services although Myanmar Cenral Bank has authorized for such services. “At present, there are only a few banks proposed to offer the service. Some application forms need to be reapplied in order to complete data requirements. Mobile banking is not a new banking procedure. It […]

Thilawa SEZ public offering sees 700,000 shares sell out

A total of 700,000 shares of the Thilawa Special Economic Zone had sold out by March 14, according to the chairperson of the SEZ’s public company. The shares, ranging from tens of thousands to millions of kyat, are in high demand, said Win Aung. Share sales between March 3 and March 14 amounted to more […]

Thilawa SEZ Shares to Go on Sale to Raise $21 Million

Shares of Myanmar’s Thilawa Special Economic Zone (SEZ) will go on sale in March in a bid to raise $21.8 million to fund the first phase of construction of the SEZ near the country’s commercial hub Yangon. The plan was announced last week at a news conference by U Set Aung, chairman of Thilawa SEZ […]

Myanmar makes progress in int’l payment card launching

Consult-Myanmar welcome you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Myanmar launched Easi Travel Master Card Monday to facilitate its citizens traveling abroad in payment and the first ever event signified the progress of its banking industry. The Easi Travel Master Card was launched by the private-run Cooperative Bank (CB) with the cooperation […]