Central Banking

Myanmar central bank opens up more room for foreign banks

Central Bank of Myanmar
The Central Bank of Myanmar has allowed seven foreign banks to provide trade financing to local exporters

The Central Bank of Myanmar recently permitted seven foreign banks to provide trade financing to local exporters, in a move intended to widen the limited business opportunities for foreign banks in the country.

Applications from five other foreign banks are still pending approval, local media reports, adding that all the foreign banks are expected to provide trade financing within this year.

The initiative, which was announced by the CBM in December 2017, allows foreign bank branches to

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