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
KBZ app sees USD 1.8 million in transfers
KBZPay, the new digital payment platform from Kanbawza Bank (KBZ), is off to a strong start with over USD 1.8 million in transfers, the company said. The app-based service, which launched in October 2018, allows people to hold funds and make instant
Gold prices surge amid banking sector mistrust
Myanmar’s domestic gold prices reached MMK 1.3 million per tical (about 16.33 grams) on September 5th. It has been the highest rate this year. Economic uncertainty and the rising value of the dollar against the kyat are thought to be driving in
