Nationwide expansion to drive Wave Money’s growth

Though 80 per cent of the population remains unserved by Myanmar’s banking system, Wave Money aims to enjoy much higher growth over the next few years thanks to its continuous expansion of distribution network, said the firm’s top executive. Brad Jones, chief executive officer of Wave Money, said in an exclusive interview the firm has […]

Central Bank to ease branch restrictions

The Central Bank of Myanmar is planning to make it easier to open bank branches, according to sources in the industry. Currently banks need total paid-in capital of K100 billion (US$102 million) as well as K700 million for each branch to expand, though with the country thought to be underbanked, insiders say they advocate easing […]