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Myanmar banks look to consolidation through better governance

Consolidation can be expected in Myanmar’s overcrowded banking sector, aided by improved corporate governance and central bank directives as well as a cleaning up of loan books, an investment conference heard this week. Speaking at the Myanmar Global Investment Forum 2019 panel discussion “Changes in the Banking and Financing Sectors” in Nay Pyi Taw this […]

DAWN Microfinance gears up for higher borrower demand

Early Dawn Microfinance Company Ltd (DAWN) is expecting lending in Myanmar to pick up on the back of the launch of a credit bureau in the country later this year, and as the banking sector opens up. “Myanmar is already in the process of opening up the banking sector and we see opportunities to serve […]

Business confidence in Myanmar sinks as scepticism mounts

More European businesses say they have lost confidence in Myanmar due to concerns about the National League for Democracy-led government’s management of the economy compared to the last two years, a new survey shows. According to the latest survey from the European Chamber of Commerce in Myanmar (EuroCham) published yesterday, a majority of firms (81 […]

Five sectors driving Myanmar’s economic growth in 2018-19

Myanmar’s economy has taken a beating in recent quarters, with a rising number of companies reporting tougher business conditions and a slowdown in market demand. One of the main reasons is the rising foreign exchange rate. Despite a slew of measures taken by the Central Bank, which included pumping millions of dollars from its reserves […]

Next finance minister expected to rescue confidence, speed up bank reforms

The government has to find someone who can pick up the baton swiftly and restore confidence to an increasingly frustrated business community since U Kyaw Win has resigned as planning and finance minister. With economic reforms slowing and plummeting of investor confidence, the next office-holder needs to communicate the reform blueprint to the private sector, […]

CB Bank successfully adapting to meet the needs of a new generation

Economic liberalisation came relatively late to Myanmar, but the country has been working hard to make up for its slow start. Following a military coup in 1962, the country was governed by an oppressive dictatorship and subsequently experienced the ignominy of being rated one of the least developed and most corrupt nations in the world. […]

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, […]

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. […]

Japanese bank tests kyat currency hedge

Sumitomo Mitsubishi Banking Corporation is testing the use of forward exchange rate contracts in Myanmar, in response to clients eager for a way to hedge against kyat volatility. The Japanese lender is providing a forward contract to one of its Japanese clients, an official at the SMBC’s Yangon offices told The Myanmar Times. He said […]