8 Aug 2018
MYANMAR: Overseas Banks Authorised to Lend to Approved Domestic Importers
For the first time, all the 13 overseas-headquartered banks currently operating in the country are to be permitted to extend credit to reputable import-oriented domestic businesses. Earlier this year, country’s export-focused sector was granted a similar entitlement. While both developments mark the country’s continued move towards greater liberalisation in the banking sector, offering retail banking services remains forbidden for all overseas financial institutions.