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Businesses, government must embrace digital technology to stay relevant

To develop and expand, Myanmar must embrace and keep up with the pace at digital technology is changing the economy and the way companies do business around the world, tech experts at the Digital Transformation Summit said. The summit was jointly held by the Myanmar Federation of Chamber of Commerce and Industries (UMFCCI) and US […]

CB Bank enter into technical collaboration with CISCO for Data Center and Core Network Infrastructure

YANGON, Myanmar, Oct. 11, 2017 /PRNewswire/ — CB Bank and Cisco are pleased to enter a technical collaboration agreement to transform the Data Center and Core Network Infrastructure to enable core banking application, digital banking and international services to be delivered to its customers and partners in a secure manner. At the same time, CB […]

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 […]

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 […]