Reposted from the Oxford Business Group
The rapid evolution of mobile technology across Papua New Guinea (PNG) is proving to be a key driver for banks as they step up their efforts to seek out growth in rural areas. Banks’ moves to shift their focus from urban centres to rural areas sits well with the government’s financial inclusion policies, although lenders are likely to face a number of challenges as they look to expand in what remains a predominantly cash-based economy. More…
“This is an important step for Myanmar’s electronic payment infrastructure” – Peter Maher
Yangon – Visa today announced that Visa cards will now be accepted at nearly 90 ATMs operated by Co-operative Bank and Kanbawza Bank across Myanmar. More…
NCB seeks to expand regionally with acquisition in Trinidad and Tobago
NATIONAL Commercial Bank (NCB) is set to expand regionally, starting with Trinidad and Tobago.
The banking group’s subsidiary, NCB Capital Markets, was given board approvals to acquire Trinidad-based, AIC Finance last week.
“This acquisition affords us a footprint in this market and provides an opportunity to further diversify our revenues,” said Dennis Cohen, NCB’s deputy group managing director.
“We are proud to partner with Kanbawza, Co-operative, and Myanmar Oriental banks” – Peter Maher (Visa Group country manager of Southeast Asia)
Visa, the world’s largest payment network, signed its first licensing agreements in Myanmar with three domestic banks at Sedona Hotel in Yangon on November 3.
The domestic banks are Kanbawza, Co-operative and Myanmar Oriental. More…
Most banks are restarting corporate lending.
Repsoted from DAWN.COM
By Nasir Jamal
MANY banks are ‘reactivating’ their corporate divisions anticipating revival of demand for private credit as interest rates fall on the back of declining inflation and manufacturers consider investing in the long overdue technology up-gradation and capacity expansion.
“We are in the process of reviving corporate lending,” an executive of the NIB Bank told Dawn last week. “We believe that the declining interest rates are definitely going to trigger demand for credit by the private sector in the next few months if not now,” he said. More…
Myanmar to own 51% of Thilawa while the Japanese will take a 49% stake
Japan External Trade Organization and the Union of Myanmar Federation of Chambers of Commerce and Industry will begin building the Thilawa Special Economic Zone in early 2013, officials said on October 21. More…
Number of loans granted in Cambodia has been increasing 30 percent per year
Global financial fragility causes headaches for the world’s economic think-tanks as they try to find flexible, sustainable resolutions. More…
Loan demand increasing in Cambodia
Acleda Bank has signed a $US10 million loan agreement with Proparco, a development finance instit-ution held in part by the Agence Francaise de Développement (AFD), according to a statement released on Wednesday. More…
Open atmosphere of the banking businesses in Cambodia, Laos and Vietnam allows for healthy participation by Thai banks
As business opportunities open wider ahead of the launch of the Asean Economic Community (AEC) in 2015, the four less-developed economies, often referred to as CLMV (Cambodia, Laos, Myanmar and Vietnam) are among the most attractive for Thai investors. More…
Reposted from the Myanmar Times
By Aye Thidar Kyaw
PRIVATE banks in Myanmar are looking to set up an inter bank network system enabling the use of debit cards in a number of commercial centres later this month, banking sources said last week.
“We are trying to implement this system for the general public, and is likely to start at the end of June or early July,” said Daw Than Than Swe, a secretary of the Myanmar Payment Union (MPU) committee. More…
