MEB

JICA to lend US$100m to local SMEs in 2018-19

September 17, 2018 by Thiha

Japan International Cooperation Agency (JICA) will lend 11.5 billion Japanese yen (K151.685 billion) to small and medium-sized enterprises (SMEs) in the fiscal year of 2018-19 through domestic banks. This decision was officially announced on September 5. The JICA’s Official Development Assistance (ODA) two-step loan will be managed by state-owned Myanma Economic Bank under its SME […]

Filed Under: Latest News Tagged With: AYA Bank, Banks, First Private Bank, Hotel and Tourism, Japan International Cooperation Agency, JICA, MEB, Mortgages, Myanma Apex Bank, Myanma Economic Bank, Myanmar Citizens Bank, ODA, Official Development Assistance, Participating Financial Institutions, PFIs, Small and Medium Enterprises Development Law, SMEs

Shrouded in secrecy, SOE profits are not financing country’s development

July 20, 2018 by Thiha

Reallocation of excess savings from Myanmar Gems Enterprise (MGE) and Myanma Oil and Gas Enterprise (MOGE) alone could provide more than K2.8 trillion in available financing for the government’s budget in the fiscal year starting from October, on top of covering expenses of the two state-owned enterprises. The government has lost more than US$2 billion […]

Filed Under: Latest News Tagged With: Andrew Bauer, education, Exchange Rate, Finance Ministry, healthcare, hluttaw, MEB, MGE, moge, Myanma Oil and Gas Enterprise, Myanmar Economic Bank, Myanmar Gems Enterprise, national currency, Natural Resource Enterprises, Natural Resource Governance Institute, Nay Pyi Taw, NRGI consultant, public service providers, SEE, social services, SOEs, State Owned Economic Enterprises Law, State-Owned Enterprises, Tax collectors, Treasury, Union budget, Yangon-based Renaissance Institute

Nationwide expansion to drive Wave Money’s growth

March 23, 2018 by Thiha

Though 80 per cent of the population remains unserved by Myanmar’s banking system, Wave Money aims to enjoy much higher growth over the next few years thanks to its continuous expansion of distribution network, said the firm’s top executive. Brad Jones, chief executive officer of Wave Money, said in an exclusive interview the firm has […]

Filed Under: Latest News Tagged With: Automated Teller Machines, bank branches, Brad Jones, CB Bank, Chief Executive Officer, Chin State, digital money, Digital Services, Distribution Network, eCommerce, financial system, First Myanmar Investment Co., FMI, FMI City, Global Treasure Bank, kbz, market leader, MEB, mobile financial services, mobile money services, Myanmar Economic Bank, Myanmar’s fintech market, Myeik, Myitkyina, Singapore-listed Yoma Strategic Holdings Ltd, Singaporean investors, telecom operators and banks, Telenor Myanmar, Top-up, transfer money, Wave Money, Wave Money’s growth, Yoma Bank, YSH

Government Commits to Long Term Aquaculture Development; Starts Dialogue on Issues

February 9, 2018 by thiha

Myanmar has taken its first major step towards developing a sustainable aquaculture industry that will meet domestic dietary needs and support the country’s fishery exports business at a time when wild fish stocks are declining rapidly. “The fisheries sector is one of the most important for our ministry, contributing to the protein needs of our […]

Filed Under: Latest News Tagged With: Bangladesh, CESD, Coastal States of Ayeyarwady, Cyclone Nargis, Department of Agriculture, Department of Agriculture Land Management, Department of Fisheries, DoF, DoF Director General U Khin Maung Maw, Dr Aung Thu, Dr Kyaw Tun Myint, EU Ambassador to Myanmar, Europe, Executive Director at the Centre for Economic, irrigation, Kristian Schmidt, Livestock, MADB, MEB, Middle East, Myanmar Agriculture Development Bank, Myanmar Economic Bank, Myanmar National Economic Policy, MYSAP, MYSAP Launch, NADP, National Aquaculture Development Plan, Nay Pyi Taw, rakhine, social development, Statistics, Thailand, The Myanmar Times, U Zaw Oo, Union Minister of the Ministry of Agriculture, United Nations, us, Vice President of the Myanmar Fisheries Federation, Vietnam

Online Tax Payment System to Be Introduced in February

December 5, 2017 by thiha

Instead of making tax payments in cash, a more convenient online payment system will be implemented by the state banks early next year, said deputy director general Dr Khine Shwe Whar from the Central Bank of Myanmar (CBM). “This online customer-to-customer transfer (CCT) payment system will start in February 2018,” she said in a meeting […]

Filed Under: Latest News Tagged With: CBM, Central Bank of Myanmar, Deputy Director General Dr Khine Shwe Whar, Finance U Set Aung, Internal Revenue Department, Japan International Cooperation Agency, JICA, MEB, Ministry of Commerce in Nay Pyi Taw, Myanma Economic Bank, World Bank

Financial services among the fastest growing sectors in Myanmar

November 20, 2017 by Thiha

The financial sector rose the most among 15 sectors managed by the government in the first six months of the 2017-18 fiscal year, growing 22 percent as a result of the implementation of new financial services, U Set Aung, deputy minister of the Ministry of Planning and Finance, at Pyidaungsu Hluttaw meeting on Thursday. “If […]

Filed Under: Latest News Tagged With: administration sectors, agriculture, Bank Guarantees, construction, deputy minister of the Ministry of Planning and Finance, FDI, Financial Services, fisheries sector, foreign bank, foreign direct investments, forestry sector, government, industrial, Loans, local currency Myanmar, MEB, MFTB, MICB, Myanma Economic Bank, Myanmar, Myanmar Foreign Trade Bank, Myanmar Investment and Commercial Bank, offshore fishing vessels, pollution and ecological damage, Pyidaungsu Hluttaw, Small and Medium Enterprises, SMEs, Social welfare, timber production, tourism sector, Trade, transportation, U Set Aung, Vehicle Insurance

India demonetisation effect: Cancelled notes still sitting heavy in Myanmar’s purse

November 17, 2017 by Thiha

KOLKATA, NOVEMBER 15: The famous Shwedagon or Golden Pagoda in Yangon attracts a large number of Indian visitors, most of whom donate to the Buddhist place of worship. In November 2016, when Prime Minister Narendra Modi announced the demonetisation drive, the pagoda had donations worth ₹56,500 in the cancelled notes. The money is still lying […]

Filed Under: Latest News Tagged With: cash deposits, dollar-INR transactions, Foreign Banks, Imphal, Indian authorities, Indian central bank, Indian currency, Indian visitors, Institute of Social and Cultural Studies, Kolkata-headquartered United Bank of India, Manipur, MEB, MFTB, MISIS, Moreh, Myanmar Foreign Trade Bank, Myanmar’s purse, Prime Minister Narendra Modi, rupees, Shwedagon or Golden Pagoda, State-owned Myanmar Economic Bank, Tamu, UBI, Vostro accounts

KBZ launches Yangon stock exchange settlement system

March 7, 2016 by thiha

Kanbawza Bank signed yesterday with the Yangon Stock Exchange (YSX) to run settlement and clearing operations for Myanmar’s first modern bourse. Last April the bank was chosen from among six local private banks who applied for the role to the Securities and Exchange Commission (SECM) of Myanmar. It will be responsible for delivering payments for […]

Filed Under: Latest News Tagged With: AYA Trust Securities, CB Securities, Daiwa, Daiwa Securities Group, Delivery Versus Payment system, Information Technology, IT, Kanbawza Bank, kbz, KBZ Stirling Coleman, KBZSC, MEB, Myanma Economic Bank, Myanmar, Myanmar Securities Exchange Centre, Myanmar Thilawa SEZ Holdings, SECM, Securities and Exchange Commission, Tokyo Stock Exchange, U Nyo Myint, Yangon, Yangon Stock Exchange, YSX

Over-the-counter share prices rise ahead of new stock exchange launch

December 11, 2015 by Thiha

As investors await the first listings on the Yangon Stock Exchange, the price of over-the-counter shares in a number of well-known public companies has risen, amid expectation that the companies will list on the country’s first modern bourse. Workers prepare the new Yangon Stock Exchange building for today’s launch. Photo: Aung Myin Ye Zaw / […]

Filed Under: Latest News Tagged With: Daiwa Securities Group, First Myanmar Investment, First Private Bank, FMI shares, Forest Products, Global Treasure Bank, Japan Exchange Group, joint venture, MAPCO, MEB, Myanmar Citizens Bank (MCB), Myanmar Securities Exchange Centre (MSEC), new exchange, Serge Pun, Thura Swiss consultancy, U Aung Thura, Yangon Stock Exchange

Myanmar to announce underwriter licensees next month

June 2, 2015 by thiha

Myanmar to announce underwriter licensees next month YANGON, May 28 (Xinhua) — Myanmar’s Securities and Exchange Commission will announce winners of underwriters’ licenses next month as part of its process in establishing the country’s first ever stock exchange, official media reported Thursday. So far, 20 private security companies out of 57 have applied for underwriters’ […]