U Soe Thein, deputy governor of the Central Bank of Myanmar (CBM), submitted his resignation on Tuesday after the CBM saw fit to publicly clarify comments he made about the banking sector in Parliament last week, according to unconfirmed comments by an MP from the Pyithu Hluttaw’s Banking and Financial Development Committee. The MP added […]
Myanmar Central Bank unlikely to accept deputy governor’s resignation: sources
September 11, 2019 by
The Central Bank of Myanmar (CBM) is unlikely to accept the resignation of its deputy governor, U Soe Thein, according to government sources in Myanmar’s administrative capital Naypyitaw. “I heard that U Soe Thein submitted his resignation directly to the governor and the governor is unlikely to forward it to the President’s Office. He doesn’t […]
CBM Restrictions on Foreign Banks to be lifted ‘Soon’- Deputy Governor
July 26, 2017 by
The governor of the the Central Bank of Myanmar (CBM) has said restrictions that stop foreign banks offering retail services in Myanmar will be lifted ‘soon’. Deputy Governor U Set Aung told a July 10 Pyithu Hluttaw meeting that it’s time foreign banks were allowed to open branches across the nation and provide their retail […]
Thilawa SEZ Shares Sold Out Following Strong Demand
April 29, 2014 by
YANGON — Demand for shares in Myanmar Thilawa SEZ Holdings Public Limited has been higher than expected and the firm has reached its goal of raising US $21 million in capital after shares went on sale in March, a government official said. Thilawa SEZ Management Committee Chairman Sett Aung told reporters during a press conference […]
Banking on Myanmar’s Future
February 19, 2014 by
YANGON — Kanbawza (KBZ) Bank has weathered some severe storms since it was established in 1994, but now stands as Myanmar’s largest privately owned financial institution, with an estimated 94 billion kyat (US$94 million) in capital. Its founder, Aung Ko Win, is a former teacher with close ties to now-retired Vice Snr-Gen Maung Aye, one […]
JICA onboard to help modernise banking systems
February 10, 2014 by
A new payment system to facilitate international business transactions could be in use in 2017, the Japan International Cooperation Agency (JICA) announced last week. Central Bank deputy governor U Set Aung and JICA Myanmar’s chief representative Tanaka Masahiko signed the agreement to modernise the funds payment and securities settlement systems on February 4. “We have […]
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