Chinese bank promotes RMB financial express services in Myanmar

A workshop to promote Myanmar-China RMB financial express services was held here on Wednesday by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the Industrial and Commercial Bank of China Limited (ICBC), Yangon Branch. “It will be beneficial to everyone if we could get financing services for project financing and […]

Sanctions fears choke nascent U.S. trade with Myanmar via Asia World Port

Western banks are cutting trade finance in Myanmar after learning that part of the country’s main port is controlled by a man blacklisted by Washington, threatening to stop nascent U.S. economic ties with the Southeast Asian nation in their tracks. U.S. shipments to Myanmar have slowed to a crawl in recent months, after several banks […]

Myanmar Oriental Bank aims to improve with IFC support

The International Finance Corporation (IFC) is looking to strengthen its partnership with Myanmar Oriental Bank, according to the bank’s chair U Mya Than. Although foreign institutions are currently forbidden from owning any part of domestic banks, many expect the laws to change to allow more foreign participation. In the meantime, Myanmar Oriental and the IFC […]