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EoI, RfP for insurance services invited

Foreign insurance companies which want to provide insurance services, can get Expression of Interest (EoI) and Request for Proposal (RfP), at www.frd.gov.com, an official website of Financial Regulatory Department at Ministry of Planning and Finance. The ministry issued the statement dated January 2, allowing the foreign insurance companies to offer insurance services in the country. […]

Expression of Interest &/or Request for Proposal for Foreign Insurance Entities (JV with local insurance companies). Closing Date 28 Jan 2019

Announcement No. 1/2019 of the Ministry of Planning and Finance, ‘Insurance Market Liberalization for Foreign Entities in Myanmar’ dated January 2, 2019 has been published in newspapers and uploaded in webpage www.frd.gov.mm. In accord with the announcement, the Expression of Interest (‘EOI’) and/or the Request for Proposal (‘RFP’) in order to transact insurance business in […]

Invitation Letter for Expression Of Interest (EOI) To Form Joint Venture to carry on Life Insurance Business in Myanmar. Closing Date 11 Feb 2019

The Government of the Republic of the Union of Myanmar (“the Union Government” or “the Government”) has started the process of reform in the insurance sector by granting licences to local insurers since 2013. Since then, there has been a number of local insurers and foreign representative offices established. In order to increase foreign investment […]

Foreign insurance firms may start operations by April 2019: regulator

Qualified foreign insurance providers will receive licenses to operate in Myanmar by April next year. “I can assure it is happening within the next 16 weeks,” U Thant Sin, Director of the Financial Regulatory Department under the Ministry of Planning and Finance, said during the UK Capital Market and Insurance Conference in Yangon on December […]

Problems rise for micro-finance borrowers

Microfinance institutions (MFIs) in Myanmar have lent more than K3.9 trillion to three million small-scale borrowers since the business of microfinance emerged in the country up until February this year, according to Financial Regulatory Department under the Ministry of Planning and Finance. But while the additional lifeline has brought financial relief to borrowers, many have […]

Next finance minister expected to rescue confidence, speed up bank reforms

The government has to find someone who can pick up the baton swiftly and restore confidence to an increasingly frustrated business community since U Kyaw Win has resigned as planning and finance minister. With economic reforms slowing and plummeting of investor confidence, the next office-holder needs to communicate the reform blueprint to the private sector, […]

IFC plans for more investments in microfinance

INTERNATIONAL Finance Corporation (IFC), a private sector arm of World Bank Group, has invested US$23.5 million (about Bt736 million) in four microfinance institutions (MFIs) in Myanmar, and is eager to invest more this year. Vanessa Vizcarra Bianchi, IFC’s lead of financial institutions advisory services for Mekong Region, said in an exclusive interview that the organisation […]

IFC to boost support for microfinance in Myanmar

INTERNATIONAL Finance Corporation (IFC), a private sector arm of World Bank Group, has invested US$23.5 million (about Bt736 million) in four microfinance institutions (MFIs) in Myanmar, and is eager to invest more this year. Vanessa Vizcarra Bianchi, IFC’s lead of financial institutions advisory services for Mekong Region, said in an exclusive interview that the organisation […]

US Firms Lobby for Removal of Myanmar Trade Restrictions

YANGON — American businesses based in Myanmar are urging their government to remove sections 311 and 312 of the USA Patriot Act which prohibit US banks from trading in Myanmar. The American Chamber of Commerce in Myanmar (AMCHAM) led 13 financial service companies to meet with government officials from Yangon and Naypyitaw as well as […]

AMCHAM Myanmar Encourages U.S. Banks to Enter Myanmar Market

The American Chamber of Commerce in Myanmar (AMCHAM Myanmar) recently led a financial services business delegation to Yangon and Nay Pyi Taw consisting of 13 companies to meet with government representatives and local banks from July 24-26. The goal of the mission was to help U.S. financial institutions, including banks and insurance companies, get a […]