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CB Bank first to launch on Asean fintech platform

CB Bank has launched its Innovation Lab on the API-Exchange (Apix), making it the first bank in Asean to reach out to other financial technology (fintech) firms in the region on the exchange. Apix is the world’s first cross-border open-architecture platform set up to enable financial institutions and fintech firms to discover one another under […]

GMA expands fleet despite rising costs, low passenger volumes

U Kyaw Nyein, chief executive officer of Golden Myanmar Airlines (GMA), has been seeing a rise in the number of Chinese passengers flying between local destinations in Myanmar this year, with the number of domestic destinations having risen to 29 from 25 in 2018. This has been able to offset the fall in the number […]

Grab sees higher growth with more services in Myanmar

With more people in Myanmar getting used to using mobile applications in their day-to-day activities, Grab Holdings Inc is fully confident that it will enjoy a healthier growth in the months to come, according to Cindy Toh, Grab’s country head for Myanmar. Toh said in an interview with The Nation that the Singapore-based ride-hailing giant […]

CB Bank, Telenor launch new Visa card

Telenor Myanmar, CB Bank and Visa last week launched a new CB-Telenor Visa card in Myanmar, days after the Central Bank of Myanmar on April 24 raised annual credit card interest rates to 20pc from 13pc to put a lid on runaway credit card debt. Nevertheless, the companies believe this will appeal to a growing […]

Tough time for Mandalay’s iron smelting businesses

The iron smelting industry using iron scraps is facing challenges to survive, according to the business managers and owners in Mandalay. The industry’s challenges include the lack of technology, capital, skilled labour as well as regional competition – key difficulties shared by small and medium-sized enterprises (SMEs) in other sectors. What iron melting factories in […]

At least five more years needed for Myanmar to go cashless

Myanmar’s cash dependent economy has become a burden on the government’s coffers in recent years and a widespread adoption of an electronic payment system in the country is needed. Yet, experts say it could take a minimum of five more years for society to go cashless. “It costs the government money to print cash and […]

Grab on fast track to growth in Myanmar

Grab, a leading ridehailing service provider in Southeast Asia, is making plans to continue as the market leader in Myanmar with its new offerings for passengers and driver-partners, according to Alvin Loh, the firm’s acting country manager for Myanmar. Loh said in an interview that more and more passengers are enjoying ridehailing services operated by […]

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. […]

Mobile money services make waves in Myanmar

Seven years ago, the country had virtually no formal banking sector. Now, its clunkier commercial lenders face extinction thanks to the arrival of exciting new mobile money services whose mission is to march onwards and upwards. Brad Jones wasn’t sure what to expect when he moved to Yangon in early 2015 to become chief executive […]

Nationwide expansion to drive Wave Money’s growth

Though 80 per cent of the population remains unserved by Myanmar’s banking system, Wave Money aims to enjoy much higher growth over the next few years thanks to its continuous expansion of distribution network, said the firm’s top executive. Brad Jones, chief executive officer of Wave Money, said in an exclusive interview the firm has […]