Ghosts of 2003 crisis haunt banks

Banks need to clean up their operations and subject their boards of directors, as well as their families, to intense scrutiny if they want to earn the trust of consumers, industry experts said last week. The most recent incident – which followed a familiar pattern where panicked customers attempted to withdraw all their savings from […]

Building banking depends on trust

More trust is needed to increase the banked population, which languishes at 5 percent of the adult population, according to experts. There are now 798 commercial bank branches in Myanmar – rising to well over 1000 if state-owned bank branches are included – and also 700 ATMs and 2813 point of sale devices as of […]

Coming soon: Myanmar Online

On the surface, the capital of Myanmar looks like a modern city with its broad roads, leafy manicured environment, high speed Wi-fi at a sprawling international convention centre, and a cavernous modern airport. But like much of the rest of Myanmar, Naypyitaw is deceptive. Government ministries scattered along the avenues, hidden behind lush greenery, may […]

Myanmar’s remittances: Too many chits for kyat

No one has bothered to count how many people live in Myanmar since 1983 (when it was still Burma). No surprise then that no one has any clear idea how many people left the country during its 50 years under military rule. The men in green certainly did a savage job of mismanaging the economy […]