ICBC Center inaugurated in Myanmar’s Yangon

The Industrial and Commercial Bank of China (ICBC) Yangon branch, the first Chinese commercial bank operating in Myanmar, has inaugurated its new center in Myanmar’s Yangon. At the opening ceremony on Friday, Chinese Ambassador Hong Liang hoped the ICBC Yangon branch to become one of the most powerful and efficient foreign banks in Myanmar and […]

Traders expect better business on wider trade financing options

Now that the Central Bank of Myanmar (CBM) has allowed a total of seven foreign banks to provide trade financing services in Myanmar, traders are anticipating much better business in the months ahead. Last December, the CBM permitted 13 foreign banks to apply for approval to offer trade financing services in the country. Since then, […]

Bangkok Bank injects $200 million into its Yangon branch

Bangkok Bank demonstrated its optimism in Myanmar’s economic potential through the injection of US$200 million (Bt6.75 billion) into its Yangon branch, a bigger sum than what was brought in by the four foreign banks that have already opened branches here. “This will help us service our customers further, not only in terms of funding but […]

Myanmar’s fast track to financial fruition

Much progress has already been made in Myanmar’s financial markets since the country’s liberalisation in 2011, and now it is on the brink of refining its banking laws and establishing the Yangon Stock Exchange. Myanmar’s financial sector is starting to gain the characteristics that make it look like a newly emerging market, as opposed to […]