The Industrial and Commercial Bank of China (ICBC) introduced four types of bank loans for employers in Mandalay last week. The bank loans available are working capital loans, project loans, trade finance and syndicated loans, according to the ICBC. The bank also introduced financial services related to Chinese border trade during a discussion on cross-border […]
Change in fiscal year insufficient to address shortfalls in budget process
October 25, 2017 by
While seen as positive, Nay Pyi Taw’s proposed change of fiscal year alone cannot address the lack of flexibility in the annual budgeting process, according to businesses. The adoption of multi-year budgeting should be implemented instead. Lawyers, investors and financiers told The Myanmar Times that while changing the fiscal year could bring some advantage to […]
Unblocking the path to capital freedom for SMEs
September 21, 2017 by
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 […]
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