MOB to allow digital payment system

Ongo, a digital financial service firm, and Myanmar Oriental Bank (MOB) have partnered up to reduce cash flow. The two firms have launched an initial phase of connecting Ongo digital payment software (Ongo Mobile Wallet) and Ongo/MOB Debit card since July 24. Further steps to develop perfect digital cash flow system will be continued step-by-step […]

Myanmar banks offer international credit cards

In a boon for holiday shoppers, Myanmar banks are starting to offer customers international credit cards for the first time. The country has only recently returned to true credit cards, which disappeared in the wake of the 2003 banking crisis. At the start of this year some 2 million “credit cards” had been issued, but most operated […]

IFC provides local bank US$ 5 million for trade financing

YANGON—The International Finance Corporation announced on Tuesday that it has provided a US$ 5 million trade finance facility to locally-owned Myanmar Oriental Bank Limited that will allow the bank to help local companies increase their imports and exports, generate more foreign exchange, and create jobs. This facility will enhance MOB’s capacity to cover the payment […]