MUFG unit to be Myanmar’s first foreign leasing company

TOKYO — A subsidiary of Mitsubishi UFJ Financial Group will open a representative office in Myanmar as early as July in a first for a foreign leasing business, possibly paving the way for broader use of equipment and cars from Japanese manufacturers. Legislation enacted in January allows foreign nonbank financial institutions to do business in the Southeast Asian […]

BTMU’s First Three Months Dealing Dollars in a Land of Kyat

Three months ago, Bank of Tokyo Mitsubishi UFJ (BTMU) won a race by hours to become the first foreign bank to have a branch in Yangon on April 22 this year. In the three months since, the financial behemoth has struggled with the kyat, but has overall found workarounds to the country’s schizophrenic economy. Like […]