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Better Bank Services, Enforcement Needed for Remittance Licences to Work

In an attempt to shrink the volume of illegal money transfers between Myanmar and its neighbours, the Central Bank of Myanmar (CBM) last week announced the availability of official remittance licences. The move, which commenced on November 15, is aimed at facilitating the legal movement of money by traders and migrant workers based overseas into […]

Businesses collaborate to launch new loan facility for landowners

iMyanmarHouse.com has introduced an installment loan programme in Myanmar for those who own land but lack the capital to build a house or a building for commercial purposes. The company is aiming to grant loans to those who don’t have enough capital to construct luxury buildings, high-rise buildings, hotels, warehouses, and other buildings on land […]

KBZ Bank sees rising adoption for its mobile wallet app

KBZ Bank, Myanmar’s largest privately-owned bank, facilitated one million transactions with its mobile wallet application KBZPay, signalling progress towards a mobile-first Myanmar, the bank said in a statement yesterday. From 28 to 31 March, guided by the 18,000-strong KBZ Bank team across the country, customers performed an extensive range of transactions with KBZPay. This included […]

Bankers seek clarity over foreign equity in Myanmar banks

The latest regulation by the Central Bank of Myanmar (CBM) permitting foreign institutions to invest up to 35 percent in local banks has been well-received by the banking and financial industry. However, experts have flagged the need for further clarity in its provisions. U Than Lwin, senior advisor to KBZ Bank, said the CBM should […]

KBZ Bank launches digital wallet KBZPay

KBZ Bank, Myanmar’s largest privately-owned bank, has launched a digital wallet called KBZPay. The mobile phone app will allow users to make cashless transactions, store, send or receive money, and withdraw cash through authorised agents. The digital wallet is now available for download across the country. The bank is conducting on-ground activations in Yangon and […]

KBZ Wins Financial Times Honor for Sixth Year Running

Myanmar’s largest private bank, Kanbawza (KBZ), was named Myanmar Bank of the Year for 2018 by The Banker, a service of the Financial Times, for its leading role in the country’s financial sector by using new digital technologies. It is the sixth consecutive year the bank has landed the honor, making it the only financial […]

A brewing brouhaha over buses in Yangon?

The Yangon Regional Government has offered the Myanmar Licensed Contractors Association (MLCA) the right to buy 200 school buses and operate a business transporting schoolchildren, U Kyaw Win, chair of the association, said on October 7. If accepted, the move will involve establishing a separate entity to run the operation under a public-private-partnership (PPP). It […]

Fate of Yangon Water Bus depends on public

The success of Yangon Water Bus solely rests on whether the public uses it, said U Maung Aung, secretary of the Yangon Region Transport Authority Group (YRTA). The first phase of the implementation of Yangon Water Bus started on October 7. It is operated by Tint Tint Myanmar Company following a three-month delay due to […]

Collier Property Report – Yangon Office Q1 2018

Rate Corrections Continue Despite Lack of New Supply Headline lease rates corrected further downwards during Q1 2018 despite the lack of new supply. Occupancy rates, however, improved, particularly in developments which underwent significant price reductions previously. As more international standard office buildings become available Colliers expects rental rates to continue to correct albeit at more […]

MADB to help fuel growth across entire agriculture supply chain

Attempts will be made to lower interest rates at the Myanmar Agricultural Development Bank (MADB) so that it is able to support the entire agriculture supply chain, according to U Kyaw Win, Union Minister for Planning and Finance. He said that in the 50 years during which MADB has provided loans to farmers, the sector […]