Grab to invest US$100m in Myanmar as smartphone use surges

[SINGAPORE] Grab, Southeast Asia’s biggest ride-hailing app, plans to invest US$100 million in Myanmar as it extends its battle with Uber Technologies to capture exploding use of smartphones. Grab will invest the money over the next three years and work with local governments to expand ride-hailing to more cities and roll out services such as […]

AYA Bank selects Misys Fusion Banking Suite for next transformation project

AYA Bank (Ayeyarwady Bank) has selected the Misys Fusion Banking suite to support a transformative project which will overhaul its core banking system, digitalise operations and improve overall efficiency throughout the organisation, according to a press release. U ZawZaw, Chairman, AYA Bank said, “It’s thrilling to see more of our vision for AYA Bank come […]

Myanmar’s Max Looking for Financial Services, Banking Partners

Max Myanmar Holding Co., a hotels-to-engineering conglomerate, said it is looking for partnerships in financial services and is in talks with France-based Accor SA to expand cooperation in hotel management. The Yangon, Myanmar-based group expects legal changes in the country to encourage more investment, U Zaw Zaw, Max Myanmar chairman, said in an interview Thursday […]

MICT invites EOI “Financial Management Specialist (Local)”; Closing Date: Dec 4, 2015

Subscribe to our tender alert mailing list The Ministry of Communications Information Technology (MCIT) now invites eligible individual consultants to indicate their interest in providing the financial services which include supporting the Ministry of Communications Information Technology (MCIT) in all financial management (FM) aspects of the Project. Interested Consultants should submit their resume and provide […]

Mizuho Bank Open for Business

Japan-based Mizuho Bank has opened their first branch in Yangon on August 3, marking the bank’s official entrance into the country. The lender is one of the largest financial services company in Japan, with over $1.6 trillion in assets. It was one of nine international banks that received licences in October last year to operate […]

Maybank looks to the future

The Myanmar Times speaks with Maybank’s Pollie Sim after it was announced the Malay outfit won one of the coveted foreign banking licences. Why do you think Maybank was selected over the other competitors, particularly over its two Malaysian rivals in the race? We believe that being a leading regional financial services leader, our regional […]

US Exim Bank Raises Hopes in Myanmar With Credit Offer

YANGON — Local businesses are hoping for more foreign investment in Myanmar, after the Export and Import Bank of the United States (Ex-Im Bank) began offering credit for trade with the country last week. US businesses are considering their options in Myanmar, after staying away for over a decade due to economic sanctions imposed on […]

More than 50 firms to join India show in Myanmar

YANGON—More than 50 companies from various sectors in India will participate in the second Enterprise India show to be held in Tatmadaw Hall, Yangon, from January 16-18, according to the Indian Embassy. The exhibition of Indian products and services, which will be organised by the Confederation of Indian Industry (CII) and the Embassy of India, […]

Foreign Bank Operations by 2014 “Unlikely”

Foreign banks will be allowed to operate financial services in Myanmar, but this issue is still under discussion and no exact time has been set, a top official from the Central Bank of Myanmar said. “We are still holding dialogues about the issue [of foreign banks operating in Myanmar]. The reports that foreign banks will […]