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, […]
Modernisation Fuels New Lending in Myanmar’s Banking Sector
April 27, 2017 by
At the end of February the Central Bank of Myanmar (CBM) announced it was considering panding the range of services that foreign lenders in the country can offer by allowing them to provide trade-only accounts to importers and exporters, which local banks are unable to do. Of the 24 domestic banks, nine are involved in […]
Foreign banks finish licence legwork
October 6, 2016 by
BRIEF: E.SUN Commercial Bank and State Bank of India – the last of the foreign lenders that won approval to open branches in Myanmar earlier this year – have finished the entry process and begin this week fully licensed. The Central Bank announced late last week that E.SUN Commercial Bank and State Bank of India […]
Myanmar admits more foreign banks ahead of NLD accession
March 8, 2016 by
BANGKOK — Myanmar has given preliminary operating licenses to four more foreign banks, following the government’s decision in late 2014 to grant licenses to an initial nine foreign banks. The move — just before a new administration led by Aung San Suu Kyi takes over on April 1 — highlights a rush by the incumbent […]
India’s Exim Bank to open Myanmar branch
September 1, 2013 by
India has been trying to leverage its aid and loan programmes to counter Chinese influence on Myanmar’s economy New Delhi: Export-Import Bank of India will open a branch in Yangon next month as part of India’s efforts to boost trade ties with Myanmar, as it opens itself to the global economy after decades of isolation. […]
