CB Bank Leads Myanmar’s Drive for Digitalisation

After years of isolation, Myanmar opened up to the global economy in 2010, and its banking sector sprung to life. Consequently, foreign direct investments started to flow, particularly towards the telecommunications sector. Myanmar’s mobile phone penetration, once at one of the lowest levels in the world, has grown to 90 percent in recent years, with […]

New insurance scheme to provide aid in obtaining loans

Co-operative Bank (CB) is preparing to launch a new Credit Guarantee Insurance (CGI) system so that it can extend wider financial assistance to the country’s small and medium enterprises (SMEs). CGI covers businesses against non-payment of debts owed to them by business customers for goods or services provided on credit terms. As part of that […]

Savers stuck with bank deposits despite negative real rates

Bank accounts remain the most popular choice of investment for savers, despite inflation running higher than commercial banks’ deposit rates, said financial industry sources. Bank workers count cash in a branch in Yangon. StaffBank workers count cash in a branch in Yangon. Staff Sources at several commercial banks said there had been no decrease in […]