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Laxer Rules of Foreign Banks to Spur Trade, Central Bank Says

The Central Bank of Myanmar said its decision last week to let foreign banks operating in the country lend and provide other services to domestic companies will help exporters limited by local lenders finance their trade with the rest of the world. “We expect that they [foreign banks] will mainly provide foreign currency to the […]

China freezes bank accounts of Myanmar companies

Three banks in Yunnan Province, China froze the bank accounts of over 100 Myanmar companies engaged in border trade last week over possible links to illegal internet gambling and smuggling, prompting swift action from the Union Minister for Commerce to try and reopen the accounts, according to officials in China and Myanmar. The frozen accounts […]