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Banks receive boost as Myanmar urges citizens to beef up savings

The number of adults who save via banks is at a measly 11%. Banks in Myanmar can start looking forward to a larger liquidity pool as the country drafts a National Savings Mobilisation Strategy to encourage its citizens to save more, reports The Myanmar Times. “Despite rising volume of savings at local banks, more is […]

Yoma to tap digital banking for nationwide expansion

YOMA BANK, one of the largest private banks in Myanmar, plans to focus on providing digital products to millions of people in Myanmar , according to Hal Bosher, the bank’s chief executive officer. Bosher said in an exclusive interview that digital products would allow the bank to serve the country better, making banking accessible and […]

Yangon International Airport welcomes its fifth millionth passenger this year

Yangon International Airport (YIA), the largest and busiest airport in Myanmar, welcomed its fifth millionth passenger today. Mr Wong Foo Cheong, travelling on board Myanmar Airways International 8M-232 flight from Singapore arrived in YIA Terminal 1 at 3:15 pm and was warmly greeted by a welcoming party. He received 1 Million MMK in cash in […]

In Myanmar, buying cars and homes with gunny sacks full of cash

Banks have even received deposits of S$10 million in bills, in a country where most still prefer cash in hand over credit. But could mobile wallets change all that? YANGON: At banks in Myanmar, it’s not unusual to see people lugging huge and heavy gunny sacks into the lobby. Once inside, they’ll split open the […]

Finance Education in Myanmar: Demand Grows as Capital Market Develops

A student takes notes during a Bloomberg Terminal course at the Myanmar Institute of Business, August 2016/ Courtesy of the Myanmar Institute of Business) Traditionally, the small number of domestic investors in Myanmar have constructed investment portfolios primarily centered around cash, real-estate, commodities or currencies via position-trading. That’s beginning to change as Myanmar’s first stock […]