Foreign banks will receive permission to operate soon, says vice chair of Myanmar’s Central Bank

U Sett Aung, the vice chairman of the Central Bank of Myanmar told a press conference held in Yangon on September 14 that foreign banks would be given permission to operate Myanmar at some point in late September or early October.

Speaking at a press conference for the Myanmar Investment Meeting, held by Peninsula Press, U Sett Aung said that despite doubt over the scheme it would continue as planned.

“The number of banks allowed to enter will number at least five and ten at most,” said U Sett Aung.

He said the banks would be chosen from a shortlist of seventeen that includes four Thai banks, three from Singapore and one each from Australia, China, France,India Japan, Malaysia,Mauritius, South Korea and Taiwan and Vietnam.

The vice-chairman added that the exact details of what operations the banks would be allowed to engage in would be revealed when the decision on operators was announced.-

Source: MIZZIMA Myanmar

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

To learn about the business opportunities in Myanmar click here


To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page “Actual Sample of Client Report”. Click here to go to page.


Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here


If you are interested to be listed in our Service Provider Directory as a supplier of services or products that we can use to match with the needs of our clients in Myanmar please fill up the online form by clicking here