Banking on Myanmar’s Future

YANGON — Kanbawza (KBZ) Bank has weathered some severe storms since it was established in 1994, but now stands as Myanmar’s largest privately owned financial institution, with an estimated 94 billion kyat (US$94 million) in capital. Its founder, Aung Ko Win, is a former teacher with close ties to now-retired Vice Snr-Gen Maung Aye, one […]

Coming soon: Myanmar Online

On the surface, the capital of Myanmar looks like a modern city with its broad roads, leafy manicured environment, high speed Wi-fi at a sprawling international convention centre, and a cavernous modern airport. But like much of the rest of Myanmar, Naypyitaw is deceptive. Government ministries scattered along the avenues, hidden behind lush greenery, may […]

Shadow of Decade-old Bank Crisis Looms over Credit Card Plans

In a world where modern banking services are almost universal, few things shout “economic backwater” quite like the absence of ATMs and credit cards. These days, even Myanmar—which was for decades one of the world’s most economically isolated countries—has a handful of ATMs in major urban centers, providing the sort of convenience that most of […]