China suspends rice imports from Myanmar after bank freezes

] Chinese merchants have suspended its rice imports from China-Myanmar border after a freeze on bank accounts of merchants, said Than Oo, secretary of Bayintnaung Rice Brokerage Center. “Rice prices remain unchanged as China has suspended rice imports from Myanmar. Rice prices will go up when there are high demands from China. Rice trading is […]

CBM Restrictions on Foreign Banks to be lifted ‘Soon’- Deputy Governor

The governor of the the Central Bank of Myanmar (CBM) has said restrictions that stop foreign banks offer­ing retail services in My­anmar will be lifted ‘soon’. Deputy Governor U Set Aung told a July 10 Pyithu Hluttaw meeting that it’s time foreign banks were allowed to open branches across the nation and pro­vide their retail […]

SingPost launches remittance services to Myanmar

Singapore Post (SingPost) has launched remittance services to Myanmar, it said on Wednesday. The post services provider is partnering four commercial banks in Myanmar, such as Asia Green Development Bank, Cooperative Bank, Kanbawza Bank and Tun Foundation Bank. SingPost said it is one of the first postal service provider in the world to offer remittance […]