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Myanmar Central Bank on the verge of opening up the whole banking sector to foreign investors

In an efforts to modernize its banking sector, the Central Bank of Myanmar has made the following announcements on 7th November 2019: ANNOUNCEMENT New round of Foreign Bank Licensing in the Republic of the Union of Myanmar   Over the past years the Central Bank of Myanmar has initiated a process to open the domestic […]

Can mobile banking overcome Myanmar’s trust issues?

It is 5pm on a Wednesday and Yangon’s streets are at a near standstill. Sunset comes early to this city of 7.36 million. Thankfully, since it is winter, the weather is cooler and drier than the rest of the year. So as dusk descends over some of the unruliest traffic in Asia – there are […]

Myanmar’s United Amara to issue 15,000 Visa cards in 4 months

UNITED Amara Bank (UAB), one of the largest financial institutions in Myanmar, will issue more than 15,000 Visa credit cards by the end of this year, says Christopher Loh, the bank’s chief executive officer and special adviser to the chairman. Loh announced on Tuesday the launch of UAB’s first suite of credit cards with Visa […]

Regulatory roadmap needed for banking sector reform

Myanmar needs to establish a regulatory roadmap for the banking sector. This will give the local banks more clarity on the progress and timing of upcoming regulations, allowing them to gear up for further reform and growth. “Carrying out regulatory reform at an unmeasured pace can cause trouble,” said Azeem Azimuddin, CFO of Ayeyarwady Bank, […]

Expression of Interest for Consultancy Assignment – Electronic Cash Transfers in Myanmar. Closing Date 22 Sep 2017

Options assessment for electronic cash transfer delivery, Myanmar Background Social protection is becoming an increasingly important component of both strategic policy development and public expenditure in Myanmar. The government’s increasing investments in social protection are underpinned by the National Social Protection Strategic Plan, approved in December 2014. That Strategic Plan has eight flagships of which […]

Strengthening Myanmar’s banking sector is key to economic growth

Central to Myanmar’s economic development is the reform of its finance sector and specifically its banking sector. Banks play a fundamental role in the transformation of market economies. Recently the government has enacted a series of laws intended to reform and strengthen its banking institutions to restore investors’ confidence and to make capital more accessible. […]

Myanmar: The New Hotbed for Satellite

The stunning landscape of Myanmar hides a tempestuous past that features its struggle for independence and eventual democracy. In 2010, the country sat on the cusp of massive change when the military junta handed over power. After 48 years of oppressive rule, a metamorphosis is occurring across the country. The daily lives of Myanmar’s 51.4 […]

Pea price plunges due to low demand from India

With the decreasing demand from India due to a currency upheaval, the price of mung bean plunged by around Ks200,000 per tonne, according to Bayintnaung pea market. India is the largest buyer of various kinds of Myanmar peas. India’s prime minister announced on 8 November that all 500 and 1,000 rupee notes — India’s most […]

Unreliable networks stem cash flow at Myanmar’s ATMs

Myanmar, one of the final frontiers for the international financial system, now boasts over 2,000 automatic teller machines (ATM) and credit card services provided by global brands such as MasterCard and Visa. Yet in a country where electricity is provided in fits and spurts, and internet connection is difficult to guarantee, online banking and ATM […]