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, […]
Money Transfer can be Smoothly Made Between Myanmar and US
March 7, 2017 by
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 […]
MEB, six private banks to lease K30 billion to SMEs
August 17, 2016 by
Myanma Economic Bank, teaming up with six private banks will give K30 billion loans to small and medium enterprises (SMEs), according to Ministry of Industry. The country’s SMEs can acquire loans from the Myanma Oriental Bank, Ayeyawady Bank, from Co-Operative Bank (CB), commonly known as CB Bank, the Myanmar Citizens Bank, the Kanbawza Bank and […]
Mizuho to open second office, at Thilawa SEZ
November 4, 2015 by
Japanese bank Mizuho will become the first foreign lender to open a second office in Myanmar, after opening its Yangon branch earlier this year. The bank has been granted approval to open a front office in Thilawa special economic zone, a spokesperson confirmed. Mizuho aims to open the office within the year, said a company […]
Maybank to help Myanmar firms raise regional capital
October 7, 2015 by
Maybank will offer a number of services in Myanmar including project finance and corporate lending, said Pollie Sim, CEO of international business at the Malaysian bank. It will also be willing to help companies raise capital through regional equity or debt markets, she said at the launch of the bank’s Myanmar branch office on October […]
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 […]
Myanmar considers LNG to meet growing energy demand
May 29, 2015 by
Energy demand in Myanmar is rising fast. The country is abundantly rich in natural energy resources, but the investment of capital and technology will not be able to unlock these resources in time to fulfill the growing need for power. In the meantime, the Ministry of Energy is considering its options for imported fuel to […]
Mitsubishi UFJ Financial Group
April 24, 2015 by
The first of three foreign banks to open branches in Myanmar this week – Bank of Tokyo-Mitsubishi UFJ (BTMU) – says there is no turning back for economic reforms and that patience is the key for success. “If we look at the long term, Myanmar has lots of potential. The liberalisation of the country and […]
