Financial services among the fastest growing sectors in Myanmar

The financial sector rose the most among 15 sectors managed by the government in the first six months of the 2017-18 fiscal year, growing 22 percent as a result of the implementation of new financial services, U Set Aung, deputy minister of the Ministry of Planning and Finance, at Pyidaungsu Hluttaw meeting on Thursday. “If […]

Thitikorn revs up for full entry into Myanmar market

Thitikorn (TK), a leading Thai hire-purchase provider in the motorcycle segment, is entering the Myanmar market with plans to operate a new company – Mingalaba Thitikorn Microfinance – established with registered capital of 200 million kyat (Bt4.85 million). Myanmar is the third overseas country in which the listed company has invested, after Laos and Cambodia. […]

In dirt-poor Myanmar, smartphones are transforming finance

MYANMAR’S democratic transition sometimes seems marked as much by continuity as by change. Depressingly, the army continues its bloody persecution of Rohingya Muslims in the west, for example (see article). But elsewhere moves to open the country’s markets, started by the preceding military regimes, have gathered pace. New commercial and financial services are springing up. […]

Myanmar moves to stave off credit crunch

NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]

Hantharwaddy airport priority for govt

THE planned Hantharwaddy International Airport is the only priority in the area of aviation under the National League for Democracy-led government, said U Win Khant, permanent secretary of Ministry of Transport and Communications. He made his comments in relation to the government’s Transport Master Plan during the sideline interview with The Myanmar Times at Myanmar […]

New insurance scheme to provide aid in obtaining loans

Co-operative Bank (CB) is preparing to launch a new Credit Guarantee Insurance (CGI) system so that it can extend wider financial assistance to the country’s small and medium enterprises (SMEs). CGI covers businesses against non-payment of debts owed to them by business customers for goods or services provided on credit terms. As part of that […]

Myanmar’s bargaining power rises along the Belt and Road

AS Hong Kong’s second Belt and Road Summit started today in the city The Myanmar Times asked two experts from The Economist Intelligence Unit and Lau China Institute at King’s College, London for their input regarding the dynamics of the Belt and Road Initiative (BRI) and China in relation to Myanmar and ASEAN. Much of […]

Amid China stand-off, BPCL plans Myanmar pipeline

State-owned Bharat Petroleum Corporation Ltd (BPCL) is in talks with neighbouring countries including Bangladesh and Myanmar and others to set up product pipelines, the senior executives of the company said on Tuesday. The focus on neighbouring countries, especially Myanmar, seems important considering the recent tension between India and China over Doklam. Also, plans of similar […]

Private banks hike lending to SMEs

SMALL and medium enterprises in Myanmar will soon get greater access to finance as private banks plan to extend more credit to boost the economy, according to speakers at the Amcham Financial Services Forum held last week. Zaw Lin Aung, managing director of KBZ Bank, the largest private bank in Myanmar with the largest retail […]

Crop insurance, land reform and investment are essential to Myanmar’s agricultural sector

Q: What is the state of the rice industry in Myanmar? A: The government relaxed its control of the rice industry in 2003. Since FY2012-2013, rice export volume has exceeded one million tons per year. Q: Rice from Myanmar does not meet international standards and fails to sell for good prices in the international market. […]