GIVEN THAT the majority of Myanmar people lack the knowledge to use digital payment platforms, all the players in the finance industry must work together to educate them so the nation can become a cashless society, according to Arturo Planell, country manager of Visa Myanmar. He said at a recent press conference there was a […]
Myanmar’s Internet Disrupted Society—and Fueled Extremists
October 2, 2017 by
DURING THE HALF century that they ruled the country, Myanmar’s military dictators occasionally turned to astrology for policy decisions. In the late ’80s, for example, the government switched the currency from units of 10 to nine, a more auspicious number. Economic turmoil followed. More recently, after an astrologer reportedly warned of an imminent American air […]
With Myanmar launch, Uber treads softly instead of barging in
May 12, 2017 by
Uber today announced its entry into Myanmar, launching its UberX service in Yangon. The ride-hailing giant has been testing its app for the past couple of weeks in Myanmar’s largest city, and now it’s ready to go with “a few hundred drivers,” according to the company. However, there’s one key difference to how Uber is […]
Telenor and Yoma Bank test mobile money service
November 17, 2015 by
The link-up, called Wave Money, will allow customers to transfer and receive money through local storefronts called “Wave Shops”, according to its new Facebook page. Myanmar has overhauled its telecommunications industry, liberalising the market to include two new foreign operators, but mass adoption of mobile payment systems has remained out of reach so far – […]
Myanmar central bank allays currency fears
October 23, 2015 by
Amid widespread anxiety over the impact of the Central Bank’s decision to revoke thousands of US dollar accepter and holder licences, a senior official has promised authorities have no plans to return to old ways. For many years – until 2011, when six commercial banks opened money changers – no ordinary citizen of Myanmar was […]
Hpa-an developer aims to build 2 million apartments nationwide
September 4, 2015 by
The Infrastructure of Myanmar Company plans to build 2 million affordable apartments across Myanmar and has secured its first contract – with the Kayin State government. The company will build thousands of low-cost housing units near to Hpa-an Industrial Zone in Kayin State though a joint venture with local firm Mya Htay Kywe Linn. The […]
Stay Tuned for mobile banking services from Yoma and Telenor, say CEOs
November 25, 2014 by
Telenor and Yoma Bank are teaming up in mobile banking, aiming to provide basic financial services for millions of unbanked people in the country. The two prominent firms have already started working together in some areas like hiring skilled workers and selecting an IT infrastructure, though they are now waiting for clarity on the regulatory […]
Myanmar gem, jade traders call for new rules to deter fake bids
September 1, 2013 by
Mandalay gem and jade traders are calling for new rules to prevent foreign traders from disrupting proceedings at gem fairs by making fake bids. The call results from an incident at the 50th Myanma Gems Emporium in Nay Pyi Taw in June involving Chinese traders, who are major buyers of the country’s precious stones. The […]
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