domestic banks

Laxer Rules of Foreign Banks to Spur Trade, Central Bank Says

November 19, 2018 by Thiha

The Central Bank of Myanmar said its decision last week to let foreign banks operating in the country lend and provide other services to domestic companies will help exporters limited by local lenders finance their trade with the rest of the world. “We expect that they [foreign banks] will mainly provide foreign currency to the […]

Filed Under: Latest News Tagged With: ANZ, banking, Buildings, business plans, central bank, Central Bank of Myanmar, domestic banks, domestic companies, finance, Foreign Banks, foreign currencies, Industrial and Commercial Bank, Interest Rates, MUFG, Myanmar kyats, National League for Democracy, property, real estate, retail banking, singapore, Technology, US Dollars

Foreign investments in local banks to be reviewed by CBM

June 22, 2018 by Thiha

Foreign investors planning to invest in domestic banks will still be required to seek approval from the Central Bank of Myanmar (CBM) to do so, U Soe Thien, vice governor of the central bank, told The Myanmar Times yesterday. “According to the law, all firms are included under the 35 percent threshold. But, being financial […]

Filed Under: Latest News Tagged With: Central Bank of Myanmar (CBM), domestic banks, foreign investors, Myanmar Companies Law, Senior General Manager of First Private Bank, state-owned banks, vice governor of the central bank

ADB sees positive economic prospects for Myanmar, depending on FDI

April 19, 2018 by Thiha

The Myanmar economy is on target for further growth in 2017-18 and as it moves forward into a fresh fiscal year, but there are policy and reform risks that could derail growth, said Yumiko Tamura, principal country specialist, ADB Myanmar Resident Mission at the Asian Development Bank (ADB). Ms Tamura yesterday presented the ADB’s growth […]

Filed Under: Latest News Tagged With: ADB, ADB Myanmar Resident Mission, agriculture production, agriculture sector, asean, Asian Development Bank, Banking Sector, Budget, budget deficit, country’s GDP, Current Account Deficit, domestic banks, domestic tourism operators, education, FDI, food prices, foreign direct investments, GDP, healthcare, hotels, Imports, industry expansion, Infrastructure Projects, local interest rates, Myanmar, Myanmar economy, oil prices, overseas goods, principal country specialist, rakhine, rice and garment exports, social services, tour companies, Tourist Arrivals, Yumiko Tamura

Interbank cash transfers available with single ATM card next year

November 20, 2017 by Thiha

Money transfer services will be available through a single ATM card from next year onwards, U Mya Than, non-executive director and former chair of Myanmar Payment Union (MPU), told The Myanmar Times. With a single ATM card issued by any of the 23 local banks under the MPU network, users will be able to perform […]

Filed Under: Latest News Tagged With: ATM card, Ayeyarwady Bank, central bank, China, cooperative bank, digital and mobile phone penetration, domestic banks, educational programmes, email, fax, Financial inclusion, foreign countries, former chair of Myanmar Payment Union, Global Treasure Bank, Interbank cash, interbank market, Kanbawza Bank, mobile banking, mobile financial services, Money transfer services, MPU, MPU card system, MPU network, Myanmar banking and finance industry, Myanmar Times, non-executive director, the US, U Mya Than, U Soe Min, vice-chair of the Central Bank of Myanmar, Yoma Bank

Why the construction sector is ailing and how it could recover

November 6, 2017 by Thiha

To help the construction and real estate sectors expand and stay profitable, government support in the form of tax and loan policy reforms is necessary, developers said. Currently, developers must pay taxes of up to 10 percent on the sale of condominium units priced between K100 million to K500 million. Meanwhile, buyers must pay a […]

Filed Under: Latest News Tagged With: chair of MKT Construction, condo market, Condominium law, construction and real estate sectors, development and construction, development of Yangon, direct loans, domestic banks, economic development, Foreign Banks, foreign construction companies, Foreigners, government efficiency, high borrowing rates, Income, Interest Rates, Internal Revenue Department, laws and regulations, Myanmar Construction Entrepreneurs Association, Myanmar Times, Myo Myint, One-Stop Service, redundant policies, sale of condominium units, Small and Medium Enterprises, SMEs, Stamp Duty, stringent bank collateral requirements, tax and loan policy reforms, The average price, U Phyo Min Thein, U Tha Aye, Various Sectors, Vice Chair, Yangon, Yangon Chief Minister U Phyo Min Thein, Yangon City Development Committee, YCDC

Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

July 12, 2017 by Thiha

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

Filed Under: Latest News Tagged With: Agriculture development, agriculture sector, asean, Association of Southeast Asian Nation, Bangladesh, China, current economic situation, Dawei, domestic banks, economic development forum, Electricity Sector, Exchange Rate, export promotion, export revenues, FDI, Fisheries, foreign investment, foreign investors, garment Sectors, global cooperation, Global New Light of Myanmar, import, industrial development, international loans, International Markets, Japan International Cooperation Agency, JICA, Kyaukpyu, Laws, low-income households, mandalay, Mandalay Electricity Supply Corporation, master plans, Mawlamyine, mining, Myanmar, Myanmar Agricultural Development Bank, OECD, Pathein, private enterprise, private entrepreneurs, private sector, Regional Government, road transport infrastructures, Sittway, Small- and Medium-Sized Enterprises, SMEs, soft loans, Taunggyi, Tax Rates, tax system, Thailand, the Organisation for Economic Co-operation and Development, the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, traffic and urban problems, U Ye Min Aung, UMFCCI, Union Government, Vice-President, Yangon, Yangon Electricity Supply Corporation, Yangon Port

Thai brokerage eyes Myanmar role

November 5, 2015 by Thiha

The Nation has learned that KTZ Ruby Hill Securities, the joint venture with locally-owned Ruby Hill Finance, is one of the 10 companies. More than 100 Thai and foreign brokerage firms along with local finance companies applied for the licenses. In October, KT Zmico was the only securities company from Thailand to win a brokering […]

Filed Under: Latest News Tagged With: brokering license, domestic banks, Exchange Certificate Supervisory Commission Office, joint venture companies, KT ZMICO, KTZ Ruby Hill, Maung Maung Thein, Myanmar Economic Bank, Yangon Stock Exchange