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Fighting against potential financial risks

Reading through the 7/2017 directive by the Central Bank of Myanmar (CBM) on the implementation of the Asset Classification and Provisioning Regulation, the words and phrases that captured my attention were: “cash flow pattern of the borrower”, “credit risk analysis” and “term loans with up to a maximum maturity of three years.” These technical terms […]

Specific procurement notice: Department of Rural Road Development’s Flooding and Landslide Emergency Recovery Project. Closing Date: 5 Jan 2018

FLERP – flood and landslide emergency recovery project Credit No.:5889-MM Contract title: San Kin – Ka Lot Thauk Road Rehabilitation Works Ayeyarwaddy Region Reference No. : NCB C2-W01-01 (single lot) Contract title: Shan Zu- Chaung Zauk To Hle Zeik Road Rehabilitation Ayeyarwaddy region Reference No. : NCB C2-W02-LOT 1-2 The Republic of the Union of […]

AYA Bank, MPU, JCB Introduce First Corporate Credit Card in Myanmar

Yangon and Tokyo, Nov 14, 2017 – (ACN Newswire) – Ayeyarwady Bank (AYA Bank), a major commercial bank in the Republic of the Union of Myanmar, Myanmar Payment Union (MPU), and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., today announced that AYA Bank has launched the AYA Universal Corporate […]

SMEs voice frustration over confusing government policies as challenges mount

Small and medium enterprises (SMEs) are still struggling to compete and expand five years after U Thein Sein’s former government established a central committee to support the sector and after the Central Bank of Myanmar recently permitted banks to approve loans without collaterals. On top of limited access to capital, insufficient supporting infrastructure, high taxes […]

Ponzi Scheme Takes Millions From Rural Myanmar

In the wake of My­anmar’s most wide­spread and finan­cially devastating ‘Ponzi scheme,’ millions of dollars have been lost, thousands of people de­frauded, and a myriad of ministries left pointing fingers. In December 2016, Sax­on Capital Limited (SCL) began selling shares to residents of Pyay, Bago, Mawlamyine, and other townships promising an 80 percent return on […]

Tough Tax Policy, Lack of Capital Access for Myanmar SMEs

Small and medium enterprises (SMEs) in Myanmar suffer from arduous tax and monetary policies and lack of access to capital and intellectual property protection. SME owners feel the government needs to address these issues as there are no business category for entrepreneurship and opportunities in emerging fields, such as digital applications and software. Taxes are […]

Central Bank Issues Regulation to Avoid Large Risk Exposure

The Central Bank of Myanmar (CBM) has issued a regu­lation in efforts to curb the risks faced by lenders when taking on large ex­posure loans. The Large Exposure Regulation mandates that banks cannot lend be­yond 20 percent of their core capital to any single borrower, thus minimizing the bank’s exposure should the borrower de­fault. “Capping […]

Central Bank takes aim at dollar-denominated deposits

The Central Bank of Myanmar had already published warnings twice and defined the type of punishments in relation to different institutions, said U Win Thaw, director general of the Foreign Exchange Management Department at the Central Bank of Myanmar. The comments were made regarding the illegal use of dollars in local businesses. The central bank […]

Central Bank Turns to Interbank Transaction Rate

​​ The Central Bank of Myanmar will no longer fix the reference rates for currency exchange, said its vice-governor Set Aung. “Currently, the fixing of the reference exchange rate is based on the auction system. The reason is that currency exchange rates between the government and the private exchange counters differ. The central bank is […]

Central Bank May Liberalise Trade Financing for Foreign Banks

​​ The Central Bank of Myanmar may allow foreign banks to launch trading services if local banks are unable to facilitate trade financing for importers and exporters, Central Bank director general U Win Thaw told the Myanmar Times. “The Central Bank has already allowed local private banks to do trade financing. If they [local private […]