Central Bank of Myanmar approves loans without collateral

Local banks are now permitted to extend loans without the need for collaterals, U Set Aung, Deputy Minister at the Ministry of Planning and Finance, told The Myanmar Times at the 5th Asia SME Conference in Naypyitaw on October 14. “The Central Bank of Myanmar (CBM) has allowed local banks to provide loans without movable […]

KBZ plans Singapore, Thailand representative offices

KBZ, the largest domestic private bank, plans to open representative offices in Thailand and Singapore by October, according to KBZ senior managing director U Than Cho. The bank is holding discussions with authorities and working on submitting the necessary documents, he said. “We are urgently trying to open them. It looks like [the Singapore office] […]

Singapore to Cooperate in Banking Supervision

Banking authorities of Myanmar and Singapore have agreed to cooperate in banking supervision and capacity building, an official report said. The move will be made under a memorandum of understanding signed between the Central Bank of Myanmar and the Monetary Authority of Singapore at their 5th Myanmar-Singapore Joint Ministerial Working Committee Meeting. The joint meeting […]

Central Bank to receive Singapore support

The Central Bank of Myanmar and the Monetary Authority of Singapore have signed an agreement to deepen cooperation, according to a Central Bank statement released February 9. The agreement will aim to strengthen it in areas like banking supervision and capacity enhancement, and was struck during a visit by Singapore senior minister and former prime […]