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Construction and Housing Development Bank to open in Yangon

The Construction and Housing Development Bank will be located in Dagon township, Yangon region, sources from the Ministry of Construction said.

Construction and Housing Development Bank Limited (CHDB) was formed in July 2013.

“We will set up the bank after establishing a private company. The CHDB can sell the bank [Construction and Housing Development Bank] shares, but they can’t enter the banking business before setting up a bank. All processes are supervised by Central Bank of Myanmar and we are carefully not to make mistake in financing,” said the CHDB managing director Win.

The public can buy the bank shares and civilian servants and businessmen, including overseas investors, can obtain the shares, sources from the CHDB say.

Source: ELEVEN Myanmar

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