Thilawa SEZ Shares Sold Out Following Strong Demand

YANGON — Demand for shares in Myanmar Thilawa SEZ Holdings Public Limited has been higher than expected and the firm has reached its goal of raising US $21 million in capital after shares went on sale in March, a government official said. Thilawa SEZ Management Committee Chairman Sett Aung told reporters during a press conference […]

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 […]

JICA onboard to help modernise banking systems

A new payment system to facilitate international business transactions could be in use in 2017, the Japan International Cooperation Agency (JICA) announced last week. Central Bank deputy governor U Set Aung and JICA Myanmar’s chief representative Tanaka Masahiko signed the agreement to modernise the funds payment and securities settlement systems on February 4. “We have […]