Burmese kyat
Myanmar microfinance at 30% interest rate
A new private bank in Myanmar, Myanmar Microfinance Bank, is currently awaiting the central bank's approval to commence operations.
The bank will provide microfinance loans...
Myanmar phases out dollar surrogate
Myanmar abolished its secondary currency, the Foreign Exchange Certificates (FEC), on March 20, 2013 as per an official announcement by the Finance Ministry.
FEC were...
Myanmar allows private money changers
The Central Bank of Myanmar has allowed three private companies to open foreign exchange counters in the country in addition to those run by private banks in a move to boost inflow of foreign currency.
Investors concerned about Myanmar law
Foreign investors are still wary of what they feel are obscure investment regulations, inadequate infrastructure and the volatility of the local currency in Myanmar,...
Myanmar clears 60% of foreign debt
Myanmar on January 28 announced a deal with international lenders to cancel or refinance nearly $6 billion of its debt, almost 60 per cent...
JCB launches credit cards in Myanmar
The Japan Credit Bureau (JCB) has announced that they will be launching operations in Myanmar, making them the third major credit card company to...
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French, US energy giants exit Myanmar as junta-ruled country slips further into chaos
France’s TotalEnergies and US-headquartered Chevron, two of the world’s largest energy conglomerates, announced on January 21 that they were ceasing all operations in Myanmar.
As...
Stories of the week
Singapore orders shutdown of cryptocurrency ATMs
The Monetary Authority of Singapore (MAS), after it issued new guidelines for marketing and advertising of cryptocurrency services in the city state on January...