Unblocking the path to capital freedom for SMEs

Myanmar’s financial sector must progress towards becoming more inclusive of small and medium enterprises (SMEs), which form the backbone of the country’s economy, but face difficulties obtaining access to funds for expansion and growth. “We need to liberalise the financial sector to encourage start-ups and support SMEs. This involves integrating the full-range of financial services […]

Myanmar’s burgeoning financial sector attracts foreign suppliers

Foreign companies are rushing in to beef up Myanmar’s financial infrastructure, vying to win orders for ATMs and financial software from commercial banks that are rapidly growing under a civilian government. This month, Diebold Nixdorf, the world’s top ATM supplier, will open its first sales office in Myanmar. It is to be staffed with its […]

Central Bank to Reform Reference Rate

​​ The Central Bank will reform its daily dollar auction system as part of an attempt to address the weakening kyat, deputy governor U Set Aung told Myanmar’s business community last week. The deputy governor, along with vice president U Myint Swe, Minister for Finance and Planning U Kyaw Win and Yangon Region Chief Minister […]

Parliament passes Financial Institutions Law

After years of back and forth, the Banks and Financial Institutions Law of Myanmar has been passed by parliament and is now awaiting the president’s signature, with banks to face more stringent rules on raising paid-up capital and on reserve requirements. Lenders will have to keep 5 percent of customer deposits as cash with the […]

Myanmar’s financial sector still weak, say experts

Myanmar’s financial sector is still weak compared with other economic development sectors, said experts from home and abroad at the Seminar on Myanmar’s Economic Transition; Issues and Options held in Yangon on Nov 30. Tin Win Aung, chairman of Myanmar Institute of Economic Graduate Association said, “One of the weak sectors among others is the […]

Japan & Singapore big winners in foreign banking licence award

Subscribe to our tender alert mailing list 9 foreign banks have been awarded preliminary Foreign Banking License on 1st October 2014. The award of the banking licence also shows the influence that the countries that the banks come from – in financing development and trade in Myanmar with the rest of the world. The big […]

Myanmar’s Central Bank Urges Investors to be Patient

YANGON — Myanmar’s central bank confirmed it will continue to take a measured approach to economic liberalization, despite facing criticism that the country is taking too long to unshackle its financial sector. Speaking to foreign companies, investors, government officials and others at a conference last week in the country’s capital, Naypyidaw, Set Aung, the bank’s […]

Yoma’s Serge Pun Sees Long Road to ASEAN Integration

YANGON — Myanmar-focused conglomerate Yoma Strategic Holdings Ltd said Southeast Asia needs to work exceptionally hard to realize a balanced, European Union-style integration of such disparate economies. Yoma is listed in Association of Southeast Asian Nations (ASEAN) member Singapore whose advanced island-state economy contrasts with that of fellow member Myanmar, rich in gems and natural […]

Gov’t, IFC ink deal to improve Myanmar’s investment policy

YANGON—The International Finance Corporation (IFC) has signed a memorandum of understanding (MoU) with Myanmar’s Ministry of National Planning and Economic Development to support its efforts to improve the country’s investment policy and regulation framework. “This will make it easier to do business in Myanmar and help stimulate domestic private sector growth and attract sustainable foreign […]