Shwe Rural and Urban Development Bank opens head office

Shwe Rural and Urban Development Bank opened its head office in Yangon yesterday. The lender plans to set up 25 branches over the next five years, but will conduct most of its operations through a network of countryside-based agents. The privately owned bank – headquartered on the corner of Pansodan Road and Merchant Street – […]

Myanmar businesses slow to adapt to improvements in Internet

Our study of the Myanmar industry shows that Myanmar businesses are still lagging behind in the use of Internet technology. We studied 72 audit/accounting firms and 44 law firms in Yangon and were flabbergasted to find that 93% and 68% respectively do not have websites and 70% of them are still using Gmail. Our study […]

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 […]

Ooredoo mobile money initiative big help for Myanmar ‘unbanked’

: The announcement of Qatar’s telecom operator to launch a mobile money initiative throughout the Middle East, Africa and Southeast Asia (Gulf Times reported on May 6) is a big step forward for chronically “underbanked” Myanmar, where around 80% of presumably over 60mn people – currently a census is going on, the first since 1983 […]

Mobile banking to make Myanmar debut at SEA Games

Consult-Myanmar welcomes you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Most domestic banks will provide mobile banking services at the upcoming SEA Games’ venues as the Central Bank of Myanmar has given them the green light to do so, bank executives said. Mobile units will include currency-exchange counters and ATMs, they said, adding […]

Decades-old bets in Myanmar’s tech industry finally reap rewards

Local tech companies see major opportunities brought on by reforms in the country It may have taken almost two decades, but Tun Thura Thet’s investment in one of Asia’s poorest countries is finally paying off. “I’ve been waiting here for 17 years to have this moment,” he said, sitting at his office in Yangon, Myanmar. […]