IKBZ facilitates the growth of Myanmar’s insurance sector

Myanmar’s insurance sector dates back to the 18th century, but only recently has foreign investment been granted, opening up and creating opportunities in the market The insurance sector in Myanmar has been active for quite some time, perhaps surprisingly so for those not familiar with the market. Following the signing of the peace treaty of […]

Japanese firms apply to operate in SEZs

Among the international insurance firms that have representative offices in Myanmar, only Japanese firms have applied to operate in special economic zones, according to the supervisory board of Myanma Insurance. Sixteen foreign insurance firms have opened representative offices in Myanmar, but they have not begun operations since regulations have not yet been fully disclosed. “We […]

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 […]

SMID Bank to lend Ks 20 billion to SMEs

The Small and Medium Industrial Development Bank plans to grant loans worth Ks 20 billion to small and medium enterprises this month. “We are checking to approve SME loans for applicants. The lending date is not confirmed yet but it will be within this month. We are expecting to lend a total amount of Ks […]