Can mobile technology bring Myanmar in line with other Asean nations

Myanmar’s central bank has released additional rules on mobile financial services that lay the foundation for efficient and secure mobile financial services in Myanmar. While most of the Association of Southeastern Asian Nation (Asean) region adopts online and mobile banking, Myanmar remains almost completely cash dependent, with most salaries still paid in cash. According to […]

ANZ’s Yangon branch wins approval

ANZ has received final regulatory approval from Myanmar’s central bank for the opening of a branch in Yangon . The decision clears the way for ANZ to open its office in Myanmar’s largest city on October 2. The new office will service multinational and joint venture companies with a presence in Myanmar, as well as […]

Myanmar’s tourism bank waits for green light

YANGON, 24 July 2015: Myanmar’s Central Bank has still to grant permission for a yet-to-open Tourism Development Bank, that will help to fund travel industry projects and SMEs in tourism. Eleven Myanmar media quoted Myanmar Tourism Bank managing director, Than Tin, saying: “We expected to get the license in May. But it is still pending […]

Myanmar steps up forex sales to boost kyat

Myanmar’s central bank has started unrestricted sales of foreign currency at its own specified rate to help importers hit by exchange rate fluctuations over the past two weeks reported Reuters on 18 June. The kyat has weakened by 26 percent since Myanmar introduced a managed float in 2012 to try to end the disparity between […]

Myanmar defends lacklustre bond sale

YANGON — Myanmar’s Central Bank on Thursday defended its first sale of government debt under the reformist regime as “successful”, despite selling less than half of the US$50 million offering, as it looks to finance rising state spending. In the latest of a string of economic reforms under the quasi-civilian government that replaced military rule […]