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Myanmar State Counsellor calls on public not to panic over banking industry rumours

Myanmar State Counsellor Aung San Suu Kyi conveyed a message through MPs from her party to people not to panic over the current rumours related with the banking and finance industry. She said these words at a meeting with MPs of the lower house and upper house from her National League for Democracy party from […]

Consolidation expected in banking industry as competition heats up

The Central Bank of Myanmar (CBM) believes that allowing foreign banks into the retail-banking sector will drive consolidation in the local banking industry and make available a larger pool of funds for growth. “Inevitably, foreign banks will win market share from local banks and we see more mergers of local banks in response to a […]

MAB launches wealth banking service as competition rises

Myanmar Apex Bank (MAB) has launched a special wealth banking and rewards programme – MAB Gold Wealth Banking – for high net worth individuals in Myanmar. For now, the platform is targeting those who have the cash to place a minimum fixed deposit of K300 million as potential clients. Interest rates for fixed deposits are […]

FMO Partners with Maha Agriculture Microfinance & Harvesting Inc to Streamline Agriculture Lending in Myanmar

FMO, the Dutch development bank headquartered in the Hague, the Netherlands, has announced its partnership with Myanmar-based Maha Agriculture Microfinance (Maha) and U.S.-based Harvesting Inc (Harvesting) to provide a grant that would help streamline agriculture lending to Myanmar farmers. As part of its capacity development program, FMO will financially support the pilot deployment of Agriculture […]

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. […]

Lenders Urge Central Bank to Be More Flexible on Regulations

Bankers are urging the Central Bank of Myanmar to reconsider a recent regulation that might leave many of Burma’s commercial lenders struggling in the market. On Nov. 16, private lenders, officials from the Central Bank and President’s Office Minister Soe Thane met to discuss the state of Burma’s banking industry and its future when a […]

Licensing, a milestone in banking industry

Greater convenience is one thing foreign companies doing business in Myanmar can expect as nine foreign banks gradually start their operations within the first half of next year. The licensing is also another milestone of the country’s economic reforms, which have so far been successful in drawing foreign investment and the momentum should continue with […]