Myanmar to establish Credit Guarantee Corporation for SMEs

Myanma Insurance plans to establish the Credit Guarantee Corporation using Japanese aid for small and medium enterprises (SMEs), said Sett Aung, Vice Chairperson of the Central Bank of Myanmar on December 20. “Although a credit guarantee scheme exists, we plan to establish a corporation with the aid of a Japanese bank. Japan sent analysts to […]

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 […]