Banks close, gold traders urge calm

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

Siam Commercial Bank launches in Myanmar

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
Central Bank of Myanmar (CBM) bans commercial banks from using digital currencies

Central Bank of Myanmar (CBM) bans commercial banks from using digital currencies

In its most drastic move on the matter, the CBM has banned the use of digital currencies (such as Bitcoin, Litecoin, Ethereum, Perfect Money) and other currencies of a similar nature in the country. It stated that it doesn’t recognize digital curre

Foreign insurers have pumped USD 127 million into Myanmar

A new rule allowing foreign insurers to operate in Myanmar has resulted in over USD 127 million in foreign direct investment (FDI), according to a report by the Myanmar Investment Commission (MIC). The Ministry of Planning, Finance and Industry began
Myanmar to open up Yangon stock exchange to foreign investments

Yangon Stock Exchange will open to foreigners amid general corporate reform

Next month, foreigners will be able to make trades on the Yangon Stock Exchange as Myanmar continues to refine its corporate infrastructure and open its markets to direct foreign investment. In July of last year, the Securities and Exchange Commissio

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