CENTRAL BANK OF MYANMAR

Market Infrastructure

Myanmar Credit Bureau to Commence Operations in April

By Editors | 26/02/2020

It will take up to one year for the credit bureau to collect sufficient and meaningful credit data on local businesses before it will be provided to lenders.

Myanmar to Issue New Licences to Foreign Banks

By Editors | 20/01/2020

Foreign banks that have had a representative office in Myanmar for at least three years can apply for a branch licence or a subsidiary licence.

AML / KYC

Myanmar Announces Licensing Framework for Remittance Providers

By Editors | 26/11/2019

The move is aimed at providing a cost-effective channel for the legal movement of money into Myanmar and reduce the use of illegal money transfer brokers.

Market Infrastructure

Myanmar to Open Applications for Foreign Bank Licensing

By Editors | 09/11/2019

Branch licences will allow wholesale banking activities, while subsidiary licences will permit retail banking services in addition to wholesale banking.

Market Infrastructure

Myanmar Allows Foreign Banks to Set Up Local Subsidiaries

By Editors | 25/05/2019

Foreign banks will be able to enter the retail banking space and operate as local banks by setting up subsidiaries, rather than just branches.

Market Infrastructure

Singapore’s NETS to Co-Develop QR Payment System in Myanmar

By Editors | 30/04/2019

Singapore payment services provider NETS Group is helping the Myanmar Payment Union develop a unified e-payment system modelled after the SGQR.

Market Infrastructure

Payments Connectivity Sees Continued Progress in ASEAN

By Editors | 10/04/2019

Bank of Thailand outlined a number of key initiatives with other ASEAN nations to increase regional connectivity in cross-border payments.

Myanmar Allows 35pc Foreign Ownership in Local Banks

By Editors | 05/02/2019

Foreign funding will support growing demand for financing and help banks upgrade loan screening and data systems.

Capital / Liquidity

Myanmar’s First Credit Bureau to Become Operational Within a Year

By Editors | 17/12/2018

Using software from Equifax, the new credit bureau will enable lenders to use credit histories to calculate bad debt risk and potentially lower the need for collateral.