US Tech Firm Diebold Nixdorf Opens in Myanmar

​​ DIEBOLD NIXDORF, a leading US tech firm with a presence in more than 130 countries, announced the opening of its office in Myanmar’s commercial hub. Neil Emerson, the firm’s senior vice president and managing director for Asia Pacific, said that its customers’ positive feedback and satisfaction drove them to establish an on-the-ground presence in […]

Visa Bullish on Nationwide Growth in Myanmar

​​ S ONLY 0.5 per cent of the population has access to electronic payments so far, Visa Inc, the global payments firm, sees a lot of room for improvement in Myanmar. Arturo Planell, Visa country manager for Myanmar, said at a press conference last week that the number of Visa cards in the country had […]

MEB, six private banks to lease K30 billion to SMEs

Myanma Economic Bank, teaming up with six private banks will give K30 billion loans to small and medium enterprises (SMEs), according to Ministry of Industry. The country’s SMEs can acquire loans from the Myanma Oriental Bank, Ayeyawady Bank, from Co-Operative Bank (CB), commonly known as CB Bank, the Myanmar Citizens Bank, the Kanbawza Bank and […]

New Companies Act to relieve some burdens on SMEs

The upgraded Myanmar companies act will remove some burdens on small and medium enterprises, according to the Directorate of Investment and Companies Administration (DICA). “We have upgraded some of the provisions (of the existing Myanmar companies act) to be in line with the current situations and to help promote the SMEs and small companies in […]

Bank Negara Indonesia to open representative office in Myanmar

State lender Bank Negara Indonesia (BNI) is due to open its first-ever representative office in Myanmar in November to facilitate the expansion of fellow state-owned enterprises (SOEs) in the neighboring country. According to the deputy general manager of BNI’s international division, Rahmad Hidayat, the bank will submit a proposal to Myanmar’s central bank next week. […]

Unreliable networks stem cash flow at Myanmar’s ATMs

Myanmar, one of the final frontiers for the international financial system, now boasts over 2,000 automatic teller machines (ATM) and credit card services provided by global brands such as MasterCard and Visa. Yet in a country where electricity is provided in fits and spurts, and internet connection is difficult to guarantee, online banking and ATM […]