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Myanmar govt to launch roadmap for financial inclusion

FOLLOWING liberalisation of the banking and insurance sectors by allowing 100 per cent foreign direct investment (FDI), Myanmar plans to launch a financial inclusion road map by next month, according to Thant Zin, director at the Financial Regulatory Department (FRD). He told the 4th Emerging Asia Banking and FinTech Summit 2019 on Tuesday that Myanmar […]

Myanmar’s Migrant Workers: The Vanguard of Financial Inclusion

Photo: Courtesy of Telenor Wave Money  Andrew Thomson considers the role of internal migrants in promoting financial inclusion in rural areas. Myanmar’s internal migrant workers have the potential to be the vanguard of financial inclusion. Presently, the vast majority of Myanmar’s population do not have access to the formal banking system, mostly the product of […]

Telenor’s Valyou receives UNCDF support for financial inclusion in Myanmar

Valyou, a service from Telenor Group, will provide low-cost international remittance services to Myanmar in its effort to promote greater financial inclusion in Southeast Asia. Through Valyou’s international remittance platform, Myanmar nationals in Thailand and Malaysia will soon be able to send money directly to their family and friends back home. Valyou’s international remittance service […]

Interbank cash transfers available with single ATM card next year

Money transfer services will be available through a single ATM card from next year onwards, U Mya Than, non-executive director and former chair of Myanmar Payment Union (MPU), told The Myanmar Times. With a single ATM card issued by any of the 23 local banks under the MPU network, users will be able to perform […]