Meeting on expansion of using Baht/Kyat and Yuan/Kyat in border trade held

Deputy Governor of the Central Bank of Myanmar Daw Than Than Swe, Secretary of the Central Committee for Ensuring the Smooth Flow of Trade and Goods and officials discussed the expansion of Yuan/Kyat and Baht/Kyat usage in Myanmar-China and Myanmar-Thailand border trade, yesterday in Nay Pyi Taw. Myanma Economic Bank, local private banks and Thai […]

Myanmar to Become Member of APN, Upgrade Card-Based Services

​​ Myanmar will become a member of the Asian Payment Network (APN), which was established to create a common payment settlement platform within the Asia-Pacific region, said U Zaw Lin Htut, CEO of Myanmar Payment Union (MPU). MPU has already met with officials from APN, and is waiting for the membership announcement to be made, […]

Cards to Adopt EMV to Meet ASEAN Standard

​​ The Central Bank of Myanmar has required local banks to upgrade the card payment technology, as a step toward integrating the payment system with the ASEAN region. Daw Than Than Swe, the director general of the Central Bank, told the Myanmar Times that all the payment cards issued by local banks will have to […]

Central Bank Plans Level Playing Field for Foreign Payment Firms

​​ CB Bank and KBZ have both partnered with Visa following the Central Bank’s decision to allow foreign payment firms to operate independently in Myanmar. But the Central Bank has clarified that this is a select response to requests from four specific firms, not an official shift in policy. Visa and KBZ issued a joint […]

Visa Hits Out at Central Bank Regulations

​​ Central bank regulations that bar people with domestically- issued Visa cards from making transactions within Myanmar are hindering the company’s expansion plans, according to a senior executive. Arturo Planell, Visa’s Country Manager for Myanmar, said last week that the regulations were one of the reasons electronic payments have failed to make bigger inroads in […]

Mango cold-storage facility to be built in Nay Pyi Taw

A public cold-storage facility that will be able to capacitate the storage of 10,000 tonnes of mangos will be definitively constructed in Nay Pyi Taw during 2017, U Thein Naing, owner of Food Garden, has informed Myitmakha News Agency. The cold storage facility will reportedly be completed by April 2017, and will serve as a […]