Myanmar to Grant Foreign Banks Licenses by End of September

YANGON — Myanmar will grant foreign banks limited operating licenses by the third quarter of this year, in a bid by the country’s semi-civilian government to attract foreign investment into an economy just emerging from decades of military rule. An official document sent to more than 30 foreign banks with representative offices in Myanmar, and […]

Leading local banks prepare for joint ventures

Domestic banks are preparing for joint ventures with foreign lenders, several banks reported last week, even though they will not be allowed until the Central Bank of Myanmar is made independent. A spokesperson at the deputy director general level of the Central Bank in Nay Pyi Taw said joint ventures would be allowed once the […]