CBM Net to bolster domestic bond market

The Central Bank of Myanmar’s new real time settlement system should help create a more liquid secondary market for Treasury bonds, and help banks manage their collateral, the central bank’s deputy governor said. The system’s immediate benefit to banks is saving hours of work that would be spent manually clearing and settling transactions. Central Bank […]

Shwe Rural and Urban Development Bank opens head office

Shwe Rural and Urban Development Bank opened its head office in Yangon yesterday. The lender plans to set up 25 branches over the next five years, but will conduct most of its operations through a network of countryside-based agents. The privately owned bank – headquartered on the corner of Pansodan Road and Merchant Street – […]

Mizuho Bank Open for Business

Japan-based Mizuho Bank has opened their first branch in Yangon on August 3, marking the bank’s official entrance into the country. The lender is one of the largest financial services company in Japan, with over $1.6 trillion in assets. It was one of nine international banks that received licences in October last year to operate […]

Third Japanese megabank opens local branch office

Mizuho Bank opened its Yangon branch office yesterday, becoming the third Japanese megabank with a local branch presence. The firms also signed an agreement with AYA Bank, one of Myanmar’s largest private banks, to cooperate in banking services such as cash management. The new branch is located at Sedona Hotel, with US$100 million in initial […]

SMEs Lack Paperwork Prowess, Unable to Secure loans

While the Small and Medium Industrial Development Bank (SMIDB) offered to distribute K20 billion in loans in 2014, as of now, K12 billion have yet to be distributed, owing largely to informal business practices, according to an official from the Ministry of Industry. Like all businesses in the country, SMEs need to register and pay […]

Japan to loan Myanmar over 25b yen: state-run media

[YANGON] Japan will grant Myanmar a 25.89 billion yen (S$284 million) loan as Official Development Assistance (ODA) under an agreement signed between the two countries in Naypyidaw on Tuesday, the state-run Global New Light of Myanmar reported. The loans will be spent on Yangon City electrification project, infrastructure development project in Thilawa Special Economic Zone […]

JICA to offer SME Loans

The Japan International Cooperation Agency (JICA) is planning to provide loans for small and medium- sized enterprises (SME) in Myanmar, according to the vice president for the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). “At least Ks 3 billion is set aside for the loan fund. JICA will provide the fund […]

Chinese Firm Joins Local Rice Miller to Bolster Industry

RANGOON — A Burmese rice milling company and the Chinese firm CAMC Engineering Co. Ltd. have signed a joint venture Memorandum of Understanding to improve the quality and capacity of rice milling operations in Burma, according to Thaung Win, the secretary of the Myanmar Rice Millers Association. Members of the Myanmar Rice Millers Association formed […]

KBZ Bank signs loan agreement with Cathay United

Kanbawza (KBZ) Bank and Taiwan-based Cathay United Bank (CUB) have signed an agreement on monetary cooperation to pay out more loans for to help Myanmar businesses expand, according representatives of KBZ Bank. On January 13, Nang Leng Kham, executive director of Kanbawza Bank Ltd and Mr Aaron Hung, general manager of CUB signed the agreement […]

Building on rural sector is key for Myanmar’s economic modernization: OECD

Improving Myanmar’s agricultural sector by building up food processing activities and related services could help transform the country’s economy into a more modern one that is able to produce higher-value goods for export, a new Organization for Economic Co-operation and Development (OECD) report says. The second volume of the OECD’s Multi-dimensional Review of Myanmar reveals […]