Central Bank issues anti-money laundering guidelines

The Central Bank of Myanmar (CBM) has published guidelines for financial institutions on managing the risks of money laundering and terrorist financing. Guidance on customer due diligence for banks, finance companies and money changers, will also be announced soon, said Daw May Toe Win, director at the Central Bank’s financial institutions regulation and anti-money laundering […]

Taking stock of StanChart’s absence

Some local bankers are linking Standard Chartered’s decision not to proceed in the race for a Myanmar banking licence to reports of a possible management shakeup at its United Kingdom headquarters. Industry observers said the United Kingdom-based bank has the most international reach of the 42 banks with a Myanmar representative office. However, Standard Chartered […]