NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]
Jovago Offers Myanmar Online Payment Method
September 11, 2017 by
Jovago.net, a hotel-booking website, has introduced two new online payment methods in partnership with 2C2P. “The new payment system will help our business move from manual payment to a digital virtual payment system to improve customer satisfaction and ease of transaction. We are happy to provide better payment system in response to our valuable customers,” […]
Private banks hike lending to SMEs
August 31, 2017 by
SMALL and medium enterprises in Myanmar will soon get greater access to finance as private banks plan to extend more credit to boost the economy, according to speakers at the Amcham Financial Services Forum held last week. Zaw Lin Aung, managing director of KBZ Bank, the largest private bank in Myanmar with the largest retail […]
Myanmar insurance to thrive with competition and free market
August 10, 2017 by
U Myo Min Thu is the Managing Director of AYA Myanmar Insurance (AMI), one of the top three private insurers in Myanmar. AMI was created in 2013 following the liberalization of economic policy which permitted private insurers to enter the market. AMI is the insurance arm of AYA Financial Group, a conglomerate which also owns […]
AYA Bank selects Misys Fusion Banking Suite for next transformation project
June 14, 2017 by
AYA Bank (Ayeyarwady Bank) has selected the Misys Fusion Banking suite to support a transformative project which will overhaul its core banking system, digitalise operations and improve overall efficiency throughout the organisation, according to a press release. U ZawZaw, Chairman, AYA Bank said, “It’s thrilling to see more of our vision for AYA Bank come […]
Myanmar’s AYA Bank Lowers Barrier to Visa Card
June 3, 2017 by
YANGON — Myanmar’s Ayeyarwady Bank, also known as AYA Bank, announced on Tuesday that it will start issuing Visa cards to a wider customer base. The bank will issue three types of credit cards — silver, gold and platinum. The most accessible card requires a monthly income of 150,000 kyat ($110), with an annual fee of 20,000 […]
AYA Bank Offers 15-Year Mortgages for High-End Condo Projects
April 5, 2017 by
Property developer Shwe Taung Real Estate has signed an agreement with AYA Bank to provide mortgages for two high-end condo projects in Yangon. Under the deal, buyers will be able to get 15-year mortgages for apartments at the Hilltop Vista Condominium and Crystal Residences projects in Yangon. It is the longest period available for a […]
Banks Push Credit Cards But Customers Question Convenience
February 4, 2017 by
Credit cards are increasingly common in Myanmar, with most of the bigger lenders offering the product. But people in the banking sector say it will take around five years until credit cards are widely used. Pre-paid cards and debit cards starting appearing in Myanmar almost five years ago. But credit cards, which disappeared in […]
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