Banks close, gold traders urge calm

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Banks and gold traders alike have urged calm amid rumors and uncertainty. Internet outages forced several banks to suspend operations over the weekend, and this week KBZ closed all of its Yangon branches after many of its workers walked out to join o

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Siam Commercial Bank launches in Myanmar

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Siam Commercial has officially launched its Myanmar subsidiary, Siam Commercial Bank Myanmar. “This development is an important jigsaw piece in SCB accomplishing its strategic expansion of its overseas network,” said Siam Commercial Bank

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KB Bank to launch in Myanmar

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Korean finance bank KB Bank will launch its Myanmar subsidiary (KB Bank Myanmar) next month. KB Bank Myanmar will be KB Financial Services’ third Myanmar business. The other two are KB Kookmin Card and KB Microfinance, which have operated since

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Thai SCB granted license to setup local bank in Myanmar

Thai SCB granted license to setup local bank in Myanmar

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The Bangkok Post reported that Siam Commercial Bank (SCB), Thailand’s fourth-largest commercial lender by assets, has set up a bank in Myanmar. It received a subsidiary business licence from the Central Bank of Myanmar, aiming to expand via off

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Mastercard makes moves in Myanmar

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Mastercard announced this week that it would open an office in Myanmar, one in a series of steps towards the modernization and digital leapfrogging of the Myanmar economy. “Mastercard aims to support the advancement of Myanmar’s digital payme

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Seven Asian banks granted preliminary licenses in Myanmar

Seven Asian banks granted preliminary licenses in Myanmar

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Among the 7 new banks granted preliminary licenses (out of 13 applications) are 3 banks from Korea (state-run Korea Development Bank (KDB), Industrial Bank of Korea (IBK), Kookmin Bank), 2 from Taiwan (Cathay United Bank and Mega International Commer

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