Singaporean and Norwegian firms latest to invest in Myanmar banking
Singaporean sovereign wealth firm GIC Pte and Norwegian firm Norfund AS will invest in Yoma Bank, becoming the latest to take advantage of new finance rules that allow foreign firms to buy stakes in Myanmar financial institutions. GIC will buy 20 per
Government banks will merge
Four government-owned banks will eventually merge into one entity in order to streamline their operations, especially for small-scale lending. Union Minister of Planning, Finance and Industry U Soe Win made the announcement at a workshop for micro,
Four ways Myanmar can boost online shopping
Even the United Nations says Myanmar is dismal for online shopping. The country ranked 126th in the The United Nations Conference on Trade and Development’s (UNCTAD) “Business-to-Consumer (B2C) E-commerce Index.” measuring an economy’s pr
Western Union latest to cut ties to Military
Money transfer giant Western Union announced that it is cutting ties with the military-owned Myawaddy Bank, becoming the latest foreign company to heed the United Nations’s advice and sever business ties with the Myanmar Army (Tatmadaw). In an
Myanmar legalizes foreign remittances
Independent cash remittance services can now receive official licenses to transfer money between Myanmar and other countries. The Central Bank of Myanmar will issue the licenses mainly to overseas employment agencies. Myanmar people have been able to
