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JICA to lend US$100m to local SMEs in 2018-19

Japan International Cooperation Agency (JICA) will lend 11.5 billion Japanese yen (K151.685 billion) to small and medium-sized enterprises (SMEs) in the fiscal year of 2018-19 through domestic banks. This decision was officially announced on September 5. The JICA’s Official Development Assistance (ODA) two-step loan will be managed by state-owned Myanma Economic Bank under its SME […]

Myanma Apex Bank gives loans to almost 700 farmers this harvesting season

A pilot project which provides loans to farmers spearheaded by Myanma Apex Bank (MAB) and Myanmar Rice Federation (MRF) has supported almost 700 farmers for this harvesting season to date, according to the MRF. U Ye Min Aung, MRF secretary, said that the MAB has provided medium-term loans to farms in agriculture, livestock and fishery […]

Waiting for change at Myanmar’s central bank

Myanmar’s central bank governor Kyaw Kyaw Maung has long been seen as an impediment to reform. But come July, he will be out and a new chief will be in, heralding, it is to be hoped, a new era of change Being a bank in Myanmar isn’t easy, with lenders of all sizes facing insuperable […]

Myanmar’s Eden Group sets its sights on affordable housing

Tokyo Eden Group, a Myanmar conglomerate whose businesses range from construction to agriculture and finance, is set to further expand its core construction business as the company looks to provide more residences in the fast-growing country, including affordable units outside cities. “Our country needs to develop so much infrastructure and real estate,” group chairman Chit […]

CBM buys dollars to ‘reduce panic’

The Central Bank has bought over US$40 million dollars from private lenders in just five days to “reduce panic and prevent volatility”, a Central Bank official told The Myanmar Times, while banks this week once again imposed limits on foreign exchange due to volatility. Private banks started their sudden net transfer of dollars to the […]

CBM brings real-time settlement to banks

Myanmar’s banking system has taken another step toward modernisation, courtesy of the Central Bank’s new clearing and settlement system, which will make an “immense difference” to lenders’ day-to-day operations, bankers said. The long-awaited system – built with the help of the Japan International Cooperation Agency (JICA) – went live on January 6, according to an […]

MasterCard with Myanma Apex Bank launch prepaid card

MasterCard and Myanmar’s Myanma Apex Bank have partnered to launch a prepaid MasterCard the enterpriseinnovation.net website reported on 22 July. The MAB Travel Prepaid MasterCard aims to provide Myanmar customers with an easier way to pay for purchases during their travels or make online purchases. The latest MasterCard survey on Consumer Purchasing Priorities – Travel […]

Japanese banks teams up with Apex

Japan’s Resona Bank has signed an agreement with Myanma Apex Bank providing for closer financial cooperation, as Japanese firms look to extend their investments in Myanmar. The agreement aims to improve banking connections between the two countries, particularly for Japanese investors in Myanmar as well as Myanmar citizens in Japan, according to Apex Bank chair […]