New insurance scheme to provide aid in obtaining loans

Co-operative Bank (CB) is preparing to launch a new Credit Guarantee Insurance (CGI) system so that it can extend wider financial assistance to the country’s small and medium enterprises (SMEs). CGI covers businesses against non-payment of debts owed to them by business customers for goods or services provided on credit terms. As part of that […]

Chin State SMEs to Be Eligible For K8.5 bn Worth of JICA Loans

Chin State’s small and medium busi­nesses (SMEs) will be eligible for up to K8.4 billion worth of small loans which the govern­ment plans to make avail­able later this financial year, a union minister has said. The funds are the re­mainder of a K50 billion Japanese loan granted to the government for the development of local […]

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 […]

Yangon Stock Exchange 10 underwriter names leak

Subscribe to our tender alert mailing list The YSE will be launched on 9th Dec 2015. The name of the 10 firms that leaked out are: AYA Bank’s wholly owned subsidiary, AYA Trust Securities Company. Aya Bank is owned by U Zaw Zaw of Max Myanmar Group. Co-operative Bank’s wholly owned subsidiary CB Bank Securities […]

GoBus aims to make bus travel smoother

Customers with Android phones can already download the app, and GoBus chief technology officer Ko Zeyar Wai Phyo expects iOS and web versions to be launched in October. GoBus already issues 100 highway express bus tickets a day, and is hoping to pick up new users during the October travelling season. ‘’As far as I […]

Growth for digital cash

Central Bank officials are urging more commercial banks to take up electronic banking. A number of institutions including Co-operative, Ayeyarwady, Innwa and Myawaddy have formally launched banking via computers or mobiles so far in 2014, and more banks should do the same, said a senior Central Bank of Myanmar official. Rules governing bank-led mobile banking […]

Private Banks need to prove they are clean as only 12 out of 22 in the top taxpayers list

Of the 22 private banks in Myanmar, only 12 have been listed as top taxpayers, according to the Ministry of Finance and Revenue. According to documents covering the 2011-2012 fiscal year, only 10 private banks are included on the official top 100 income taxpayers list. Only 12 private banks are included on the official top […]

Myanmar-made VISA cards set for SEA Games debut

Consult-Myanmar welcome you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Privately owned Co-Operative Bank plans to manufacture and issue prepaid VISA cards in Myanmar ahead of December’s SEA Games, CB Administrative Managing Director Pe Myint told Mizzima yesterday. The cards will allow users to withdraw cash from ATMs in Euros, and US and […]

VISA expand presence in Myanmar through three banks

VISA card holders will soon be able to use the cards for making payments at point-of-sale terminals at Kanbawza Bank, Cooperative Bank and Myanmar Apex Bank, Visa said. VISA card holders will soon be able to use the cards for making payments at point-of-sale terminals at Kanbawza Bank, Cooperative Bank and Myanmar Apex Bank, Visa […]