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Questions arise over cost, accessibility of two-step loans

Despite the important role small and medium enterprises (SMEs) play in the economy, repeated requests for more affordable loans and easier access to financing remain a challenge for the sector. One avenue for SMEs to access financing in Myanmar is via funds provided by official development assistance organisations such as Japan International Cooperation Agency (JICA). […]

Businesses jumpy over impending loan repayment deadline

Some of Myanmar’s business leaders are urging those of their compatriots who have been slow in repaying their loans to do so in order to avoid a financial crisis. There has been speculation that banks would be suing businesses that have not been repaying their loans on a regular basis or have defaulted to pay […]

Myanmar’s currency black market thrives in banks’ shadow

YANGON — Even as banks take on a growing share of foreign exchange trading in Myanmar, black market dealers remain firmly entrenched, with the short-lived crackdowns by the government when the kyat moves too sharply doing little to root out the problem. The building that houses the Yangon Stock Exchange was once a branch of […]

Banks need to be more transparent on fraud

Banks should report fraud cases involving their staff in a more transparent manner in order for them to maintain the public’s confidence in their ability to keep money safe. Banking experts have advised that banks should take steps in announcing or reporting fraud cases in a more transparent manner so that the public can be […]

Rising interest in financial products: Visa

Myanmar people are receptive in adopting contactless payment methods, a study conducted by digital payments firm Visa reveals. Visa this week has published findings from its Consumer Payment Attitudes Study, which examines the perceptions, attitudes and behaviours Myanmar people have towards payment and emerging payment methods. It was based on face-to-face interviews of 504 people […]

Japan goes long on myanmar

Japan is playing a central role in assisting Myanmar’s ongoing financial reforms and attempts to achieve industrialisation. Japan is interested in Myanmar from both an industrial and a financial perspective, while Burmese officials see Japan as a natural partner for financial cooperation. Japan’s public–private assistance for financial development in Myanmar emerged in a Financial Services […]

Revenue Group to enter Myanmar market early next year

KUALA LUMPUR: Cashless service provide Revenue Group Bhd is expected to make inroads into Myanmar early next year. Its Group Chief Executive Officer, Eddie Ng Chee Siong said currently the group was awaiting approval from the authorities before it could enter into any partnership there. “We hope to collaborate with local companies there to strengthen […]

Insurance industry progressing at slow pace, foreign competition needed: AMI

It has been five years since the government first allowed private insurance businesses to offer their services in Myanmar in 2013. But further liberalisation is needed and the authorities have been saying they are close to allowing foreign insurance providers to operate domestically. In August, U Zaw Naing, secretary of the Insurance Business Regulatory Board […]

Loan scheme hinders SME growth

The availability of loan is one of the major challenges for development of Small and Medium-sized enterprises (SMEs) in Mandalay region, according to a talk on the challenges of the SMEs. Head of Mandalay Region SME Department said: “The major challenges of SMEs in Mandalay are: capital, technology, market penetration, access to information and infrastructural […]

JICA to lend US$100m to local SMEs in 2018-19

Japan International Cooperation Agency (JICA) will lend 11.5 billion Japanese yen (K151.685 billion) to small and medium-sized enterprises (SMEs) in the fiscal year of 2018-19 through domestic banks. This decision was officially announced on September 5. The JICA’s Official Development Assistance (ODA) two-step loan will be managed by state-owned Myanma Economic Bank under its SME […]