Free from sanctions, state-owned MFTB upgrades services

One of three state-owned financial institutions recently taken off the US sanctions list says it has made a concerted effort to upgrade its services since the current government took power in April, under instruction from the Ministry of Planning and Finance. Myanma Foreign Trade Bank, established in 1976, held a monopoly on the foreign exchange […]

IMF urges govt to control domestic bank licences

The International Monetary Fund (IMF) has urged Myanmar to control the issuing of banking licences to minimise risks with the pending arrival of foreign banks to the country. The IMF mission chief Matt Davies said on June 17 that the issuance of new domestic licenses must be carefully controlled in order to allow regulation and […]

Myanmar’s foreign investment hits US$43 billion

Total foreign investment in Myanmar hit US$43 billion in August, according to Myanmar Investment Commission (MIC). Over 600 foreign businesses invested a total of $43.68 billion in twelve sectors as of August 31, MIC reported. “Myanmar has foreign investments from 32 countries in four major sectors: energy, oil and gas, mining, and manufacturing,” said an […]