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 […]

No buyers for credit guarantee insurance

Nobody has bought credit guarantee insurance as banks offer limited loans to small- and medium-sized enterprises (SMEs), according to Aye Min Thein, managing director of Myanmar Insurance. Myanmar Insurance started selling loan insurance to SMEs in July. He said: “The banks are disbursing loans to SMEs at the designated amount. But owners who want more […]

Health, Loan Insurance Coming to Myanmar This Year

YANGON — Myanmar’s insurance industry will begin providing currently nonexistent health and credit guarantee insurance policies in the 2014-15 fiscal year, according to state-run Myanma Insurance. “We will operate health insurance and loan insurance services in the coming financial year,” said Aye Min Thein, managing director of Myanma Insurance. The fiscal year begins on April […]