KBZ Launches Visa Credit Cards After Landmark Ruling by Central Bank

​​ Kanbawza Bank (KBZ) has begun issuing Visa credit cards, making it the sec­ond of Visa’s Myanmar partners to do so after the Central Bank of Myanmar (CBM) lifted restrictions last month. CB Bank was the first of the local banks to is­sue Visa credit cards in January, a week after the move by the […]

Visa and KBZ to Produce Kyat-Denominated Credit Cards

RANGOON — Burma’s KBZ bank and international payment provider Visa announced on Thursday that they would jointly issue new payment cards, after receiving the green light to do so from the Central Bank of Myanmar the day before. The Central Bank announced on Wednesday that international payment providers could now offer products and services in […]

Myanmar’s KBZ Bank picks S’pore as launch pad to region

One of Myanmar’s biggest privately owned banks aims to use Singapore’s prime location as a launch pad to expand its commercial presence in the region. U Nyo Myint, senior managing director of Kanbawza Bank (KBZ Bank), said yesterday: “The bank is one of the most successful banks in Myanmar and we would like to expand […]

YSX needs institutional investors, say industry figures

The Yangon Stock Exchange needs larger and more experienced investors to start trading as its current buyers lack experience, industry sources said at an Oxford Business Group capital market debate last week. The individual traders dominating the new bourse – also called retail investors – are poor at assessing a company’s financial health, analysing cash […]

No new shares to trade on YSX until July: underwriters

The first long-awaited initial public offerings on the Yangon Stock Exchange will not include any new shares, said underwriters, while the first company to raise fresh capital is unlikely to list until July. The YSX opened last December to much fanfare but with no stocks to trade. Crowds gathered, a giant bell was rung and […]

Kanbawza Group eyes OTC market

Kanbawza Group is hoping to set up its own OTC market next year, with two of its entities already granted separate licences to operate as an underwriter and settlement bank for Yangon’s new stock exchange. The group is hoping to set up an OTC market early next year, and is looking for companies to collaborate […]