Yangon-based financial institution Mahar Bawga Finance Company (MBF) has announced that it has received a MMK 1.4 billion (USD 916,000) loan from AGD Bank. According to an article in Dealstreet Asia, MBF said that the funds will be used to open new branches, renovate existing ones and develop new financial products and services. The company said it had been researching “new financial products” in recent years and now plans to launch them further across the country. “AGD plans to continuously support other MFIs (microfinance institutions) and NBFIs (non-bank financial institutions) as part of the bank’s initiatives to promote financial inclusion in Myanmar,” AGD Bank said in a statement. Founded in 2013, MBF claims to have provided services to more than 30,000 customers across the country, the article said.