Yangon SMEs to receive smart cards facilitating loans

Smart cards to help small and medium-sized enterprises (SMEs) apply for bank loans will be issued after the relevant data is collected, Yangon Chief Minister U Phyo Min Thein said at a meeting with local businesses at the Republic of the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) office on August […]

Government will provide loans in 2017 to develop the SMEs

Japan International Cooperation Agency (JICA) will provide Ks 15 billion loan through the government to develop small and medium enterprises (SMEs) in 2017, according to Directorate of Industrial Supervision and Inspection Department under the Ministry of Industry. JICA will provide the loan with the low interest. The loan will be in the form of two- […]

Myanmar’s stock exchange to open, but not for business

There won’t be any bell-ringing or celebratory confetti explosions when Myanmar opens its new stock exchange this week. There won’t be any stocks to trade either. As Myanmar adjusts to the dizzying pace of its economic reforms and plays catch-up with Asia’s high-growth frontier markets, its bid to thrust a once military-run backwater into the […]

Yangon stock exchange risks opening under US sanctions

Myanmar’s first modern stock exchange risks falling under sanctions by the US Treasury when it eventually launches this year. The Yangon Stock Exchange is not designated specifically by the Department of Treasury’s Office of Foreign Assets Control (OFAC). However US officials have clarified that under US law it would be automatically sanctioned, as it is […]

Rethinking Myanmar’s state-owned banks

The country’s four state-owned banks account for more than 60 percent of total banking assets, but have not kept up with the reforms and growth at their private counterparts since the sector was liberalised in 2011. Members of parliament have urged the Ministry of Finance to reduce the size of state banks, particularly Myanma Economic […]