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 […]

Economic forum predicts more foreign investment in 2015-16

The energy sector will help fuel foreign investment in Myanmar during the 2015-16 fiscal year. That was the main message to come out of the Myanmar Global Investment Forum held in Nay Pyi Taw 15-16 September attended by over 800 local business people and foreign experts. For the last three years, Myanmar’s political and business […]

KBZ Bank on Myanmar’s strong future

Wide-reaching regulatory changes mean that there are far greater opportunities for Myanmar’s emerging banking sector The financial industry in Myanmar is in a phase of momentous transformation, with new market entrants in the banking sector, both local and foreign, the emergence of the private insurance sector, and the launch of the Yangon Stock Exchange driving […]

Foreign Bank Operations by 2014 “Unlikely”

Foreign banks will be allowed to operate financial services in Myanmar, but this issue is still under discussion and no exact time has been set, a top official from the Central Bank of Myanmar said. “We are still holding dialogues about the issue [of foreign banks operating in Myanmar]. The reports that foreign banks will […]

Benefits on offer to all investors in Myanmar

Insurance against political risks from World Bank unit Myanmar’s membership in the Multilateral Investment Guarantee Agency will be of great benefit to local businesspeople as well as foreign investors working in the country, according to its officials. MIGA, an arm of the World Bank Group offering political-risk insurance and credit enhancement, announced late last month […]