Myanmar Govt May Let Foreign Banks Operate This Year

YANGON — Some foreign banks may be allowed to operate in Myanmar later this year although initially they will only be allowed to have branches in certain areas and offer a limited range of products, government and banking sources said on Tuesday. “The president last week formed a committee to choose five to 10 out […]

Myanmar may let foreign banks operate this year: Sources

YANGON — Some foreign banks may be allowed to operate in Myanmar later this year although initially they will only be allowed to have branches in certain areas and offer a limited range of products, government and banking sources said on Tuesday. “The president last week formed a committee to choose five to 10 out […]

Banks Wait for Central Bank to Give Go-Ahead to International Cards

Two of Burma’s leading private banks want to begin issuing debit cards that can be used all over the world, but are waiting for the green light to do so from Central Bank, bankers said. Both the Cooperative Bank (CB Bank) and the Asian Green Development (AGD) Bank have teamed up with United States-based bank […]

Parliament confirms appointments at Central Bank

Myanmar’s Parliament has confirmed the appointment of members of the Central bank governing body, including the new chairman. Kyaw Kyaw Maung, who previously served as chairman of the Central Bank from 1997 to 2007 under the military regime, was reappointed. Current chairman Than Nyein and former director Khin Saw Oo are to be repositioned as […]