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Foreign insurers bring disruption in untapped Myanmar market

Myanmar’s insurance market will soon face a sea change led by technologies and expertise brought in by foreign companies. A total of 14 foreign insurers will enter the Southeast Asian country’s market by the end of this year through either wholly owned subsidiaries or joint venture companies with local peers, the Nikkei Asian Review has […]

Finance ministry cuts microfinance loan interest rates

A new directive from the Ministry of Planning and Finance (MOPF) has reduced interest rate for microfinance loans and compulsory saving. The new rates are to take effect at the beginning of this month but the announcement was released after four days of the effective date, causing microfinance institutions to be in a difficult position. […]

Hayman Capital receives US$2 million debt capital from Symbiotics SA

5th February 2019, Yangon. Hayman Capital Co., Ltd has signed US$2 million term loan from a Switzerland social impact investor, Symbiotics SA. All regulatory approvals from the Central Bank of Myanmar and the Financial Regulatory Department of the Ministry of Planning and Finance have been received and the fund has been disbursed to support the […]

DAWN Microfinance gears up for higher borrower demand

Early Dawn Microfinance Company Ltd (DAWN) is expecting lending in Myanmar to pick up on the back of the launch of a credit bureau in the country later this year, and as the banking sector opens up. “Myanmar is already in the process of opening up the banking sector and we see opportunities to serve […]

Problems rise for micro-finance borrowers

Microfinance institutions (MFIs) in Myanmar have lent more than K3.9 trillion to three million small-scale borrowers since the business of microfinance emerged in the country up until February this year, according to Financial Regulatory Department under the Ministry of Planning and Finance. But while the additional lifeline has brought financial relief to borrowers, many have […]

UK aid agency invests $1.1m to build Myanmar’s micro-insurance

The UK Department for International Development (DFID) and a Swiss insurance technology firm are set to invest US$1.1 million (K1.7 billion) in Myanmar’s micro-insurance market. The aim is to reach 600,000 people in a bid to expand and develop the country’s insurance and risk-transfer market. Stonestep AG, a Swiss micro-insurance technical services company, and the […]

FMO Partners with Maha Agriculture Microfinance & Harvesting Inc to Streamline Agriculture Lending in Myanmar

FMO, the Dutch development bank headquartered in the Hague, the Netherlands, has announced its partnership with Myanmar-based Maha Agriculture Microfinance (Maha) and U.S.-based Harvesting Inc (Harvesting) to provide a grant that would help streamline agriculture lending to Myanmar farmers. As part of its capacity development program, FMO will financially support the pilot deployment of Agriculture […]

Yoma to tap digital banking for nationwide expansion

YOMA BANK, one of the largest private banks in Myanmar, plans to focus on providing digital products to millions of people in Myanmar , according to Hal Bosher, the bank’s chief executive officer. Bosher said in an exclusive interview that digital products would allow the bank to serve the country better, making banking accessible and […]

Myanma Awba opens new agrochemical production complex in Yangon

Myanma Awba Group, Myanmar’s largest manufacturer and distributor of agricultural technology, launched Myanmar’s first private agrochemical production complex in Yangon Region on August 19. The US$35 million Hmawbi Agricultural Input Complex (HAIC) is located near Wa Nat Kyaung Village in Hmawbi Township, occupying 126 acres of land. Myanma Awba is providing up to $25 million […]

SolarHome bags more funding to expand into Myanmar, Indonesia and Cambodia

SolarHome, an off-grid solar firm focused on Southeast Asia, has raised US$5 million to date, having recently closed a US$1 million convertible note offering with impact venture capital firm Insitor Impact Asia Fund. The new funding will help SolarHome to extend its network of hubs throughout Myanmar, offer more products and expand into Indonesia and […]