CBM Restrictions on Foreign Banks to be lifted ‘Soon’- Deputy Governor

The governor of the the Central Bank of Myanmar (CBM) has said restrictions that stop foreign banks offer­ing retail services in My­anmar will be lifted ‘soon’. Deputy Governor U Set Aung told a July 10 Pyithu Hluttaw meeting that it’s time foreign banks were allowed to open branches across the nation and pro­vide their retail […]

Foreign banks to be picked in September

Which foreign banks will be allowed to operate in Myanmar will be selected in September, though their licences will initially contain significant restrictions, Central Bank of Myanmar deputy governor U Set Aung confirmed in parliament on June 25. Requests for interest were sent to the foreign banks’ local representative offices in May, starting the process […]