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NongHyup Financial and HTOO Group to start financing service in Myanmar in July

South Korea’s NongHyup Financial Group Inc. together with Myanmar’s HTOO Group will start a financial service for farming equipment businesses in the Southeast Asian country in the second half with this year, the company said Sunday. Two parties had signed a memorandum of understanding to cooperate on setting up a financial service business for the […]

Mytel to sell SIM cards in early 2018

With construction of a mobile network now more than 50 per cent completed, Mytel, the fourth telecom operator, is planning to start selling SIM cards in early 2018. Mytel said its objective is to provide the best Internet services at a fair price. The company’s Myanmar headquarters is located in Yangon and it has opened […]

MySQUAR jumps as it links up with Myanmar Railways to provide WiFi and digital content services on trains

“We anticipate this partnership could have vast long-term potential as the railways are improved and railway use is projected to multiply over the coming years as roads become more congested” Shares in MySQUAR Limited (LON:MYSQ) jumped at the opening bell on Thursday after the Myanmar-language social media, entertainment and payment platform signed a deal that […]

CBM Restrictions on Foreign Banks to be lifted ‘Soon’- Deputy Governor

The governor of the the Central Bank of Myanmar (CBM) has said restrictions that stop foreign banks offer­ing retail services in My­anmar will be lifted ‘soon’. Deputy Governor U Set Aung told a July 10 Pyithu Hluttaw meeting that it’s time foreign banks were allowed to open branches across the nation and pro­vide their retail […]

AYA Bank selects Misys Fusion Banking Suite for next transformation project

AYA Bank (Ayeyarwady Bank) has selected the Misys Fusion Banking suite to support a transformative project which will overhaul its core banking system, digitalise operations and improve overall efficiency throughout the organisation, according to a press release. U ZawZaw, Chairman, AYA Bank said, “It’s thrilling to see more of our vision for AYA Bank come […]

Myanmar Govt May Let Foreign Banks Operate This Year

YANGON — Some foreign banks may be allowed to operate in Myanmar later this year although initially they will only be allowed to have branches in certain areas and offer a limited range of products, government and banking sources said on Tuesday. “The president last week formed a committee to choose five to 10 out […]