Pocket change: Myanmar banks on mobile money

YANGON – Carrying her wages in wads of cash across Myanmar was once a risky, onerous but unavoidable ritual for maid Khin Myint Oo. But now she just pings off a text to move the money to her children back home as mobile banking sweeps into a country whose people have for decades been locked […]

Bringing banks to the poor

Changes need to be made to promote financial inclusion particularly among the poorest, according to a report by a joint team including several United Nations organizations. Some 15 percent of adults are currently borrowing an estimated US$3.9 billion from unregulated money lenders in Myanmar while less than 5pc of the population have formal bank accounts. […]