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Myanmar awards first licenses to foreign banks

http://www.bradenton.com/2014/10/01/5389598/myanmar-awards-licenses-to-9-foreign.html

YANGON, MYANMAR — Myanmar awarded licenses Wednesday to the first foreign banks allowed to operate in the country in a half-century.

Lenders from Japan, China and Australia were among the nine banks to receive licenses in a reform implemented after Myanmar emerged from dictatorship.

Those to receive licenses included Bank of Tokyo-Mitsubishi UFJ, Industrial and Commercial Bank of China and Australia and New Zealand Banking Group. Others were Sumitomo Mitsui Banking Corp., Mizuho Bank, Thailand's Bangkok Bank, Singapore's Oversea-Chinese Banking Corp. and United Overseas Bank and Malaysia's Malayan Banking Bhd.

Each bank will be allowed to open one branch and cannot conduct retail banking. They can only lend to foreign investors in foreign currencies, not the local kyat, unless they partner with local bank, part of efforts to protect the fledgling domestic industry.

Read more here: http://www.bradenton.com/2014/10/01/5389598/myanmar-awards-licenses-to-9-foreign.html#storylink=cpy

Great, at least Bangkok Bank (BBL) now can grant a loan in US dollars to Thai investors who invest in Burma and allow the remittance from Burmese workers in Thailand through BBL ATM machines or bank counters.
For the case of Japanese Bank and Chinese Bank, they are for Tilawa Industrial estate and the deep sea port in Arakan.
 
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Great, at least Bangkok Bank (BBL) now can grant a loan in US dollars to Thai investors who invest in Burma and allow the remittance from Burmese workers in Thailand through BBL ATM machines or bank counters.
For the case of Japanese Bank and Chinese Bank, they are for Tilawa Industrial estate and the deep sea port in Arakan.

But I'm confident that Myanmar 's financial system in the long future will be able to operate by itself efficiently .There will be no need to rely on international financial system all .
 

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Thai Big banks are ready for AEC investment -
Bangkok Bank - More full Branch in Yangon, Phnom Penh and Pak Xe
SCB focus on JV on Vina Siam Bank
K-Bank still negotiate with National Bank of Cambodia to set up the branch and to help SMEs in Cambodia - via Canadia Bank PLC.
For Bank of Ayutthaya, focus will be the service through alliance like Vietin Bank or through Ayutthaya Leasing in Laos - - also consider new branches in Pak Xe and Savannakhet
http://www.thanonline.com/index.php...d=260138:2015-01-02-05-47-12&catid=101:2009-0
 

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แป๊ะตำปึง;120088538 said:
I've been waiting to see 10000 Kyat and 50000 Kyat.


10000 Kyat note has already been issued since 2012 - Burma has 11 banknotes in circulation before the issue of 10000 Kyat notes: 50-pyas, 1 kyat, 5 kyat, 10 kyat, 20 kyat, 50 kyat, 100 kyat, 200kyat, 500 kyat, 1,000 kyat and 5,000 kyat.
http://archive-2.mizzima.com/business/7284-burma-to-issue-10000-kyat-banknote.html

Now, 5000 Kyat note has confronted with counterfeit issue
http://archive-2.mizzima.com/news/i...-counterfeit-notes-found-in-rangoon-bank.html
 
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10000 Kyat note has already been issued since 2012 - Burma has 11 banknotes in circulation before the issue of 10000 Kyat notes: 50-pyas, 1 kyat, 5 kyat, 10 kyat, 20 kyat, 50 kyat, 100 kyat, 200kyat, 500 kyat, 1,000 kyat and 5,000 kyat.
http://archive-2.mizzima.com/business/7284-burma-to-issue-10000-kyat-banknote.html

Now, 5000 Kyat note has confronted with counterfeit issue
http://archive-2.mizzima.com/news/i...-counterfeit-notes-found-in-rangoon-bank.html


I 've already seen both of them.
 

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Bangkok Bank Office, Kabar Aye Pagoda Road. Photo taken on 23rd May 2015.

Bangkok Bank Office, Kabar Aye Pagoda Road. Photo taken on 23rd May 2015.
BBL to open Yangon branch next week
May 26, 2015 7:35 pm
Bangkok Bank has been granted permission by the Central Bank of Myanmar to open a branch in Yangon for the provision of financial services to foreign-invested companies and domestic banks.

Bangkok Bank is the only Thai bank to receive a foreign branch licence from Myanmar's government.

The branch will play a key role in promoting and developing the local financial system to support the growth of high-potential businesses and industries, said bank president Chartsiri Sophonpanich.

The Yangon branch will open this coming Tuesday.
http://www.nationmultimedia.com/breakingnews/BBL-to-open-Yangon-branch-next-week-30261003.html
 

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Commercial Bank begins Myanmar operations

Commercial Bank begins Myanmar operations



The Commercial Bank of Ceylon opened its representative office in Yangon on Monday, 8th June, formally launching its operations in Myanmar, initially to offer Advisory Services to Sri Lankan and Bangladeshi businesses wishing to enter that country, and to arrange Banking and Advisory facilities, funds transfer and encashment services.

Commercial Bankis the first Sri Lankan bank to be granted a licence by the Central Bank of Myanmar to operate a Representative Office in the country.

The Bank’s Representative Office, located at No 42 A, Pantra Street, Dagon Township, Yangon, Myanmar was formally declared open by the Bank’s Chairman Mr Dharma Dheerasinghe, Managing Director/CEO MrJeganDurairatnam, Acting Sri Lankan Ambassador to Myanmar MrHemanthaSwarnathilake and other senior officials. MrSajeevePiyaratne is the Manager of the Bank’s Yangon Representative Office in Myanmar.

Speaking at the ceremony, Mr Dheerasinghe said:“We believe that there is significant potential to increase bi-Iateral trade between Myanmar and Sri Lanka, and that there is interest among Sri Lanka’s leading apparel exporters and other industries to set up operations in Myanmar.The presence of a Representative Office of Sri Lanka’s largest private bank would facilitate this process, and be mutually beneficial to the two countries.”

Commercial Bank Managing Director/CEO Mr JeganDurairatnam said: “We have noted that the Banking Sector in Myanmar is expanding rapidly. By opening a Representative Office, it would also be possible for Commercial Bank to build closer relationships with Myanmar banks and offer them its experience in very successfully moving from manual and mechanical systems to high-tech banking.”

Myanmar is Commercial Bank of Ceylon’s second overseas operation after Bangladesh, which the Bank entered in July 2003, with the acquisition of the Bangladesh operations of Credit Agricole Indosuez (CAI), its first ever acquisition of a banking operation. Today, Commercial Bank’s operations in Bangladesh have grown to 18 outlets, and have won numerous awards including the Financial Mirror –Robintex – Partex Business Award for ‘The Best Foreign Bank’, the Financial News Services (FNS) Business Award for the ‘Best Performing Foreign Bank’ in Bangladesh and the ICMAB, National Best Corporate Award.

http://www.adaderana.lk/bizenglish/commercial-bank-begins-myanmar-operations/
 

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KBZ Representative Office in BKK and Singapore Soon?

KBZ plans Singapore, Thailand representative offices
By Chan Mya Htwe
Myanmar Times
Friday, 21 August 2015

KBZ, the largest domestic private bank, plans to open representative offices in Thailand and Singapore by October, according to KBZ senior managing director U Than Cho.

The bank is holding discussions with authorities and working on submitting the necessary documents, he said.

“We are urgently trying to open them. It looks like [the Singapore office] will open no later than October,” he said.

KBZ is also attempting to open a representative office in Thailand the same month. It is also submitting documents to the Central Bank of Myanmar for permission, while holding discussions with the Monetary Authority of Singapore and the Bank of Thailand.

Officials from KBZ have already made one trip to Singapore to discuss the representative office. More negotiations are necessary to receive permission from the Central Bank of Myanmar, after which it will proceed with the other two countries’ authorities.

“Singapore has many terms and conditions. It is stricter than Thailand,” he said.

The overseas offices will allow easier access with foreign banks. Currently many interactions must take place by fax, but by having overseas offices. KBZ will be able to more quickly and conveniently contact foreign banks.

Daily money transfers and trading will also be faster with the offices, said U Than Cho. “There are so many branch offices of foreign banks in Singapore,” he said.

KBZ expects to open a representative office abroad rather than branch offices.

While representative offices are more limited, they do allow for contact with foreign banks and the opportunity to strengthen contact with stakeholders.

Eventually, KBZ would like to see its representative offices abroad upgraded to branch offices.

The move comes as nine foreign banks are opening their Myanmar branches following a licencing contest last year. A total of 8 of them have opened this year, though ANZ has not.

Previously the Central Bank of Myanmar only allowed representative offices of foreign banks inside the country.

During speeches given at the the opening of the OCBC and UOB branches in Myanmar last month, Central Bank governor U Kyaw Kyaw Maung asked that Singapore authorities also consider the requests of Myanmar banks to open in the country, though he did not specify what banks had applied.

The Monetary Authority of Singapore did not return a previous request for comment. KBZ is chaired by tycoon U Aung Ko Win.
http://www.mmtimes.com/index.php/bu...ingapore-thailand-representative-offices.html
 

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Myanmar dealbook: ANZ to open branch in Yangon; Japan gives $700k for circular train; Wood-based industrial zone to come up

http://www.dealstreetasia.com/stori...-wood-based-industrial-zone-to-come-up-14233/

The Mynamar central bank has allowed Australia and New Zealand Banking Group Limited (ANZ) to set up operations in Yangon while the Japanese government is financing over $700,000 for Yangon’s circular train facility. The government is also in talks with Chinese counterparts to set up a wood-based industrial zone to combat illegal trading.

ANZ to open branch in Yangon
Australia and New Zealand Banking Group Limited (ANZ) has got the Myanmar Central Bank’s approval to set up its branch in Yangon.

The bank, which opens its Yangon office on October 2 (Friday), will serve foreign companies present in Myanmar. Some of the sectors that the bank could provide financial services include water, power, communications and companies looking to venture into Myanmar.

Melbourne-based ANZ operates in 34 markets around the world.

The Japanese government funds $700k for Yangon circular trains
The Japanese government has provided $749,926 for the development of Yangon’s circular train facility. The fund was given under the small enterprise scheme and as a humanitarian assistance. The budget will cover the cost of transporting 10 Diesel Multiple Unit (DMU) trains by the East Japan Railway Company (JR East) and will cover maintenance cost of the circular train.

The support aims to upgrade the facility of the circular train and aims to benefit about 100,000 daily passengers.

The ceremony to hand over the funding was attended by U Nyan Tun Aung, minister of the Ministry of Railways Transportation and the Japanese ambassador to Myanmar H.E. Mr Tateshi HiGUCHI. The Japanese government has been providing aid to different sectors in Myanmar since 1993.

Wood-based industrial zone to be established
The Chinese and Myanmar forest department authorities are under discussions to establish a wood-based industrial zone in Myanmar to combat the illegal trading of forest products.

The discussion is to arrange the Chinse investors to be able to work legally relating to the forestry products in Myanmar, said U Kyaw Kyaw, deputy director general of the Forest Department.

Through the industrial zone, it is aimed that China will be able to trade in wood products.

During the past years, the illegal trading of logs by Chinese individuals had raised an issue on deforestation in Myanmar. The Government of Myanmar banned illegal trading of logs in 2014.
 

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Maybank opens in Yangon
Malaysia-based Maybank has opened a branch at the Sule Centre Point in Yangon, reportedly with an initial investment of US$75 million.

It said it would aim to help support wholesale banking, companies and domestic banks, focusing on deposit accounts, capital investment, monetary management, financial services and monetary markets.

Malaysia’s largest bank said it would loan capital to Myanmar’s priority sectors: energy, infrastructure, telecommunication, oil and gas.

International CEO Pollie Sim said: “Myanmar’s economy sector saw a big change in 2012. Now the country sees a massive inflow of foreign investment. In 2014-15, the country received US$8.1 billion in foreign investment. It is 25 times higher than the US$329.6 million in 2009-10. This amount can help develop the consumer sector as well as the needs of financial services which is a driving force for the country’s development.”

Maybank reportedly had assets of US$183 billion in 2014.

http://elevenmyanmar.com/business/maybank-opens-yangon
 

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KBZ plans Singapore, Thailand representative offices
By Chan Mya Htwe
Myanmar Times
Friday, 21 August 2015

http://www.mmtimes.com/index.php/bu...ingapore-thailand-representative-offices.html
Well, opening a full branch in Thailand requires 20,000 Million Baht of registered capital according to the new regulation from the Bank of Thailand - No wonder, many commercial banks from neighboring countries are reluctant to open the branch office in Bangkok, unless they have strong banking sector like the one in Malaysia which opens May Bank and CIMB and Singapore which opened DBS , and UOB.
 

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Myanmar’s KBZ Bank going abroad
KHINE KYAW
MYANMAR ELEVEN
YANGON
May 11, 2016 1:00 am

KBZ Bank, Myanmar’s leading private bank, will open a representative office in Thailand later this year to cash in on the Asean Economic Community.

The rep office will be the first step of the bank in establishing its presence in Southeast Asia and beyond, said Than Cho, senior managing director.

The bank disclosed earlier a plan to open an office in Singapore.

He said the Bank of Thailand has officially awarded the rep office licence and the Myanmar bank would reveal the location and opening date in the near future.

The presence in Thailand will help the bank build relations with Thai businesses and cater to the three million Myanmar migrant workers in the Kingdom, he said.

"As the largest bank in Myanmar, we are able to use our extensive knowledge of the country's financial markets to encourage and promote trade, as well as provide advisory services to Thai businesses looking to enter Myanmar," he said.

The new office could play a key role in helping Myanmar reintegrate into the global business community, he said.

"The long-standing relationship between the two countries |offers ample opportunities to collaborate across various sectors in the region.

"We have long been a leading financial institution in Myanmar, and are prepared to represent the country alongside our international industry peers," he added.

KBZ operates over 300 branches and 350 ATMs and over 80 currency exchange counters in Myanmar.

It is the flagship business of Kanbawza (KBZ) Group of Companies, which last year clinched a IT deal with Microsoft, in a move to modernise its IT infrastructure - firstly at the bank.

Local banks in Myanmar are adjusting to the new environment with the entry of foreign banks.

In 2014, the Central Bank of Myanmar awarded licences to nine foreign banks and four more licences were awarded in March of this year.

Among the winners are five banks from four Southeast Asian nations - two from Singapore and one each from Thailand, Malaysia and Vietnam.

To open the rep office in Thailand, KBZ Bank had to undergo stringent due diligence and demonstrate significant transparency as part of the licence application.

This included an appraisal of the bank's position in the market, background information on its share holders, the awards the bank has received and its accounts and investments to ensure its operations adhered to the guidelines set by the Bank of Thailand.

The representative office will be headed by Zeyar Sein Htut and will focus on activities such as market research, liaising with the private sector as well as serving as a source of information, including regulatory requirements for doing business both in Thailand and Myanmar.

Zeyar Sein Htut is responsible for corporate advisory at KBZ Bank and business development within KBZ Group, where he leads new business and investment opportunities, provides advisory services to all corporate customers and executes project finance transactions.

From 2009-13, trade between Thailand and Myanmar averaged US$6 billion (Bt211 billion) per year. The value hit $8 billion in 2014.

Thailand is Myanmar's second-largest trade partner after China.
 

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KBZ Bank has opened the representative office at Sathorn Square Office Tower in Bangkok on 4 August 2016 - the representative office would start offering financial and advisory services including market research, liaising with the private sector and serving as a source of information, including regulatory requirements for doing business both in Thailand and Burma as soon as possible to Burmese people and to businesses in Thailand.

Note: any upgrading from a representative office to full branch means 20000 Million Baht (6-70000 Million Kyat) registered capitals though.
http://www.irrawaddy.com/asia/kbz-bank-opens-office-in-bangkok.html
 
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KBZ Bank has opened the representative office at Sathorn Square Office Tower in Bangkok on 4 August 2016 - the representative office would start offering financial and advisory services including market research, liaising with the private sector and serving as a source of information, including regulatory requirements for doing business both in Thailand and Burma as soon as possible to Burmese people and to businesses in Thailand.

Note: any upgrading from a representative office to full branch means 20000 Million Baht (6-70000 Million Kyat) registered capitals though.
http://www.irrawaddy.com/asia/kbz-bank-opens-office-in-bangkok.html
We've been waiting and seeing branch of every myanmar's banks in Thailand in the future intently.
 
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