Central Bank Plans Level Playing Field for Foreign Payment Firms

​​ CB Bank and KBZ have both partnered with Visa following the Central Bank’s decision to allow foreign payment firms to operate independently in Myanmar. But the Central Bank has clarified that this is a select response to requests from four specific firms, not an official shift in policy. Visa and KBZ issued a joint […]

CB issues Reminder on Currency use but Dollar Shortage Remains Issue for Banks

​​ The Central Bank has reissued an instruction that the kyat should be used in all local transactions in an effort to help stabilise the exchange rate. But a senior official in the foreign exchange management department has said the regulator also wants to help route more foreign currency transactions through banks. The Central Bank […]

First Private Bank Cleared for Listing

​​ First Private Bank will become the fourth firm to list on the Yangon Stock Exchange this month. The lender, which claims the oldest banking licence in Myanmar, has published its finances, expansion plans and fears ahead of the listing – offering a window into the challenges facing the country’s smaller banks at the start […]

MPT and KBZ Join Forces for SIM Registration

​​ Myanmar Post and Telecommunication (MPT) SIM cards can be registered at Kanbawza Bank (KBZ) branches across the nation starting in December 2016, the two companies have jointly announced. “We are working with KBZ to register all the MPT users before March 2017. We will continue to look for the most convenient options for all […]

Visa Hits Out at Central Bank Regulations

​​ Central bank regulations that bar people with domestically- issued Visa cards from making transactions within Myanmar are hindering the company’s expansion plans, according to a senior executive. Arturo Planell, Visa’s Country Manager for Myanmar, said last week that the regulations were one of the reasons electronic payments have failed to make bigger inroads in […]

Visa Bullish on Nationwide Growth in Myanmar

​​ S ONLY 0.5 per cent of the population has access to electronic payments so far, Visa Inc, the global payments firm, sees a lot of room for improvement in Myanmar. Arturo Planell, Visa country manager for Myanmar, said at a press conference last week that the number of Visa cards in the country had […]

KBZ wins permission from Central Bank of Malaysia to open office in KL

KANBAWZA (KBZ) Bank announced yesterday that it got the nod from the Central Bank of Malaysia on Tuesday to open a representative office in Kuala Lumpur. “We will open the representative office in Kuala Lumpur in Malaysia in the near future. We will announce the place for the representative office and the date for the […]

More transparency needed from local business: MCRB

A select few Myanmar firms display a higher level of transparency than most of their ASEAN peers, but many large companies continue to show little interest in disclosure – even when legally required – according to a recent report from the Myanmar Centre for Responsible Business (MCRB). There is huge variation in the approach Myanmar’s […]

YSX debates bank disclosure ahead of MCB listing

As Myanmar Citizens Bank prepares to become the first lender listed on Yangon’s stock exchange, bourse officials are still debating just what level of financial disclosure listing banks should have to provide. Any company intending to launch shares on the YSX has to meet disclosure requirements more onerous than any others demanded under domestic Myanmar regulation. In […]

Myanmar’s Kanbawza Bank opens office in Bangkok

KBZ representative office has been opened at Sathorn Square Office Tower. (Photo courtesy of Kanbawza Bank) Kanbawza Bank (KBZ Bank) has opened a representative office in Bangkok, the first Myanmar bank to establish an international presence. Earlier this year, KBZ Bank officially received a licence from the Bank of Thailand to open the office in […]