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 […]

Central Bank to approve credit bureau to ease up loan services

For the setting up of a credit bureau, Myanmar Banks Association and a Singapore-based company – which has been operating a credit bureau – have submitted forms to the Central Bank of Myanmar that will allow collaboration between the two organisations, the official said on April 26. On March 31, the Central Bank of Myanmar […]

Credit Bureau Delayed by ‘Second Thoughts’ About Foreign Stake

YANGON — Although financiers in Myanmar have been trying since 2012 to form the country’s first credit bureau, concerns about how much foreign involvement in the process should be allowed have delayed their efforts, bankers said this week. The Central Bank of Myanmar aims to form the credit bureau to allow lenders to check the […]

Myanmar makes progress in int’l payment card launching

Consult-Myanmar welcome you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Myanmar launched Easi Travel Master Card Monday to facilitate its citizens traveling abroad in payment and the first ever event signified the progress of its banking industry. The Easi Travel Master Card was launched by the private-run Cooperative Bank (CB) with the cooperation […]