Money transfers to the United States can now be made by opening a Settlement Account at KBZ Bank. Improved trade financing and easier cash transfers are expected as KBZ Bank Ltd joins hands with Sumitomo Mitsui Banking Corporation (SMBC-NY). KBZ customers can save time when they make money transfers and they can receive 24-hour […]
KBZ Strengthens Remittance Services with US Banks
March 4, 2017 by
After kicking off the US-Myanmar direct money transfer service, Kanbawza Bank (KBZ) has tried to establish a direct channel with US banks, KBZ managing director U Win Lwin told the media. Right now, KBZ has opened a USD settlement account in New York’s branch of Sumitomo Mitsui Banking Corporation (SMBC). Hence, direct money transfer […]
Japan’s SMBC heading to Myanmar special zone
April 18, 2016 by
YANGON — Sumitomo Mitsui Banking Corp. will open a branch in Myanmar’s Thilawa Special Economic Zone as early as July. The Sumitomo Mitsui Financial Group unit recently obtained approval from the government. Mizuho Financial Group unit Mizuho Bank already operates a branch in the zone, and Mitsubishi UFJ Financial Group unit Bank of Tokyo-Mitsubishi UFJ has set up a dedicated counter […]
For foreign lenders, Myanmar is no zero-sum game
June 1, 2015 by
SINGAPORE – A Foreign bank setting up a branch in Yangon must take its first step together with eight other lenders, all eager to tap a country that has been in isolation for more than 50 years. But international lenders noted that co-operation, not direct competition, will serve the greater good for now. “Competition among […]
Two Japan Banks First Foreign Banks to Open Myanmar Branches
April 29, 2015 by
Japan’s two top banks are set to open branches in Myanmar this week, becoming the first foreign banks to set up shop in the country: a place viewed by many as one of the “last frontiers.” Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp. will open branches on Wednesday and Thursday in the center […]
Ready to open bank account
April 6, 2015 by
The Myanmar economy is set to begin a new era following the commencement of operations by three foreign banks this month The banking industry is bracing for a new era with three foreign banks getting the green light to open branches this month – the first time in half a century. Six other foreign banks, […]
