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Call to boost financial literacy

June 28, 2018 by Thiha

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 […]

Filed Under: Latest News Tagged With: Arturo Planell, ATM card, automated teller machine, bank account, cashless society, Country Manager, Credit Cards, digital payment platforms, Electronic Payments, Finance Industry, financial literacy, gold, insurance, land investments, Magwe, mandalay, Pathein, personal finances, remittances, Taunggyi, Visa Myanmar, Yangon

Myanmar’s Internet Disrupted Society—and Fueled Extremists

October 2, 2017 by Thiha

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 […]

Filed Under: Latest News Tagged With: a founder, American-­style boot camp, Ashin Wirathu, Association of Southeast Asian Nations, aung san suu kyi, bank account, Cambodia, Cofounder of freelancing platform Chate Sat, communication systems, computer networking, currency, deputy communications minister, digital cameras, digital security, Donald Trump, engineering university, Facebook, Golden Paddy app, government programming, Honey Mya Win, Huawei, internet access, local NGO, mandalay, Market prices, member of Yangon’s regional parliament, mobile money service, mobile payments, mobile phone, Myanmar Blogger Society, Myanmar’s telecommunications reform, Nay Myo Kyaw, Nokia mobile phone, Phandeeyar Accelerator program, president’s advisory council, private sector, Shan State, shoe factories, Silicon Valley, sim card, singapore, small-business owner, tea and ginger farmer, Technology, telecom licenses, Thaung Tin, The National League for Democracy, Wave Money, weather

Myanmar’s AYA Bank partners with mFino to offer new products

August 31, 2017 by Thiha

AYA BANK, one of the top three private banks in Myanmar, recently signed a pact with mFino, a global fintech solution provider, to deliver new products and advanced payments for the market, said Myint Zaw, the bank’s managing director. He said the partnership would lead the bank to introducing mobile fintech products by the end […]

Filed Under: Latest News Tagged With: advanced payments solutions, authorised agent locations, AYA Bank, bank account, banks and financial institutions, bill payments, branch network, Central Bank of Myanmar, core banking system, deposits, global fintech solution provider, Max Myanmar Group of Companies, mFino, Misys FusionBanking, mobile payment, Myanmar’s AYA Bank partners, Myint Zaw, near field communication, NFC, P2P transfers, QR, quick response code, secure banking services, smartphone users, the bank’s managing director, top-ups, withdrawals, Zaw Zaw

Promise seen for cards in Myanmar’s ranks of unbanked

August 4, 2017 by Thiha

Zayar Aung, head of cards at CB Bank, said Myanmar had enjoyed annual growth in cards usage over the past four years thanks to the growing number of automated teller machines (ATMs). “Four years ago, we only had less than 100 ATMs. Now, there are nearly 3,000 ATMs across the country,” he told the Myanmar […]

Filed Under: Latest News Tagged With: AGD Bank, Asia Green Development Bank, ATMs, Automated Teller Machines, bank account, card holders, Cards, CB Bank, channels, debit cards, digital payments, Digital Services, e-mobile banking, e-wallets, Electronic Payments, Facebook, head of cards and payments, head of cards at CB Bank, Incentives, Internet penetration rate, Kyaw Hlaing Win, Myanmar Banking and Payments Conference, Myanmar’s banking industry, Myanmar’s ranks, newspaper advertisements, skills shortage, smart phone, social networks, the bank’s website, Zayar Aung

With Myanmar launch, Uber treads softly instead of barging in

May 12, 2017 by Thiha

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 […]

Filed Under: Latest News Tagged With: Asia, bank account, Bus, Cars, CB Bank, CEO Travis Kalanick’s credo, country, credit card, GFK, HelloCabs, market, Myanmar launch, Norway, Ooredoo, Oway Ride, Partner, riders, Southeast Asian, taxi drivers, telenor, Uber, Yangon, Yangon Bus Service (YBS)

Telenor and Yoma Bank test mobile money service

November 17, 2015 by Thiha

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 – […]

Filed Under: Latest News Tagged With: bank account, Brad Jones, central bank, Facebook page, Mobile Financial Services Regulation, Petter Furberg, telecommunications industry, telenor, Wave Money, Wave Shops

Myanmar central bank allays currency fears

October 23, 2015 by Thiha

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 […]

Filed Under: Latest News Tagged With: Australia, bank account, banking, central bank, Commerce Ministry, Foreign Exchange Management Department, International Banks, licences, Macquarie University, Maung Aung, money changing, Mya Than, Myanmar Economic Holdings, Sean Turnell, Win Thaw, Yangon Foreign Exchange Market Development Committee

Hpa-an developer aims to build 2 million apartments nationwide

September 4, 2015 by Thiha

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 […]

Filed Under: Latest News Tagged With: Asian Development Bank, bank account, East-West Economic Corridor, Fulltex Sweater factory, Hpa-an industrial zone, infrastructure, joint venture, Mya Htay Kywe Linn, Mya Htay Kywe Linn Construction, Myanmar Company, Thanlwin River, U Saw Win Htein, U Than Mya, U Than Oo, UMH Company

Stay Tuned for mobile banking services from Yoma and Telenor, say CEOs

November 25, 2014 by thiha

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 […]

Filed Under: Latest News Tagged With: bank account, CEO Serge Pun, Financial Services, mobile banking, Myanmar CEO Petter Furberg, Telenor and Yoma

Myanmar gem, jade traders call for new rules to deter fake bids

September 1, 2013 by thiha

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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