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Financial services among the fastest growing sectors in Myanmar

The financial sector rose the most among 15 sectors managed by the government in the first six months of the 2017-18 fiscal year, growing 22 percent as a result of the implementation of new financial services, U Set Aung, deputy minister of the Ministry of Planning and Finance, at Pyidaungsu Hluttaw meeting on Thursday. “If […]

ADB tackles a banking barrier to trade

The Asian Development Bank (ADB) moved to ease international business money transfers from Myanmar by guaranteeing Letter of Credit transfers from CB Bank, CB managing director U Pe Myint said. A Letter of Credit from a bank guarantees the seller will receive a payment from the buyer on time, with the bank responsible if the […]