Deputy Governor

Central bank official submits resignation over Parliament remarks

September 17, 2019 by Thiha

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 […]

Filed Under: Latest News Tagged With: CBM, Deputy Governor, Parliament remarks, resignation, U Soe Thein

Myanmar Central Bank unlikely to accept deputy governor’s resignation: sources

September 11, 2019 by Thiha

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 […]

Filed Under: Latest News Tagged With: Asia Green Development Bank, bank loans, banking regulations, business owners, debt, Deputy Governor, government’s budget department, Myanmar Central Bank, non-performing loans, resignation, U Soe Thein

With U Set Aung in charge, no excuse for Kyaukphyu to repeat Thilawa’s rights abuses

July 25, 2018 by Thiha

Chair of Thilawa Special Economic Zone Management Committee (TSMC) is now also at the helm of Kyaukphyu’s SEZ body. Given that there is now an SEZ precedent to learn from, U Set Aung should ensure Kyaukphyu does not repeat the human rights abuses and lack of transparency in which Thilawa was mired. U Set Aung, […]

Filed Under: Latest News Tagged With: AdvisingAsia, Central Bank of Myanmar, Chair, Commerce Minister U Than Myint, counsel, Deputy Finance Minister, Deputy Governor, DICA, Finance minister U Soe Win, former chair, Henry Van Thio, KSMC, Kyaukphyu, Kyaukphyu SEZ Management Committee, lecturer, Mandalay International University, Ministry of Planning and Finance, Mitsubishi, Myanmar investment commission, permanent secretary, Pietro Borsano, Planning and Finance Ministry., Rakhine State, sumitomo, Thilawa Special Economic Zone Management Committee, TSMC, U Kyaw Aye Thein, U Set Aung, U Tun Tun Naing, vice chair of KSEZ, Vice-President

Can the central bank’s new guard save businesses in Myanmar?

August 7, 2017 by Thiha

Among the nominees for deputy governor are economist and retired Budget Department of the Ministry of Planning and Finance officer U Soe Thein, incumbent deputy governor U Soe Min and existing member of the board U Bo Bo Nge. Meanwhile, the newcomers to the Board include former deputy director general of the Union Attorney General’s […]

Filed Under: Latest News Tagged With: AMRO, ASEAN+3 Macroeconomic Research Office, Budget Department, central bank, central bank regulations, central bank’s monetary policy, Central Statistical Organisation, DBS Bank, Deputy Director General, Deputy Governor, deputy governor U Soe Min, economic development, Economist U Khin Maung Nyo, entrepreneurs, Exchange Rate, Foreign Banks, Foreign Exchange, former director of the Union Attorney General Office Daw Yi Yi Win, former finance deputy general manager U Soe Paing, former prorector of the Yangon University of Economics Daw Khin May Hla, freelance banking and investment advisor U George Soe Win, Germany, High interest rates, Japanese International Cooperation Agency, KfW Development Bank, LC, Letter of Credit, Local Banks, LOGISTICS, member of the board U Bo Bo Nge, Ministry of Commerce, Myanmar, Myanmar exporters, Myanmar merchants, Myanmar Rice Federation, Myanmar Times, officer U Soe Thein, Pyidaungsu Hluttaw, singapore, Small- and Medium-Sized Enterprises, SMEs, telegraphic transfers, the Ministry of Planning and Finance, TT, Union Attorney General’s Office U Myint Thein Tun, US dollar, US rise, vice-chair Dr Soe Tun

CBM Restrictions on Foreign Banks to be lifted ‘Soon’- Deputy Governor

July 26, 2017 by Thiha

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 […]

Filed Under: Latest News Tagged With: ATM services, Branches, CBM, CBM Restrictions, Central Bank of Myanmar, Deputy Governor, deputy governor U Set Aung, Foreign Banks, individual bank accounts, large companies, licences, local customers, Myanmar, public access, Pyithu Hluttaw, Remittance Services, Representative Offices, retail banking services, retail services, temporary restriction, wholesale banking services

Thilawa SEZ Shares Sold Out Following Strong Demand

April 29, 2014 by thiha

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 […]

Filed Under: Latest News Tagged With: Central Bank of Myanmar, Chairs, deep sea port, Demand for Shares, Deputy Governor, Japanese Factories, Large Housing Projects, Management Committee Chairman, Myanmar Thilawa SEZ Holding Public Limited, Sett Aung, Sold, Thilawa SEZ, Thilawa Special Economic Zone, UMFCCI, Win Aung

Banking on Myanmar’s Future

February 19, 2014 by thiha

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 […]

Filed Under: Latest News Tagged With: Asia Wealth Bank, Aung Ko Win, Bank Crisis, central bank, Central Bank of Myanmar, Credit Cards, Deputy Governor, Difficult Challenge, Financial Institute, Foreign Stock Markets, Founder, Kanbawza Bank, kbz, Largest Bank, Lower Interest Rates, Maung Aye, Microfinance Group, Shan State, Taunggyi, U Than Lwin, vice chairman, Vice Snr-Ge

JICA onboard to help modernise banking systems

February 10, 2014 by thiha

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 […]