Economy Finance Lead Story News
Kyaw Kyaw Maung, the governor of the Central Bank of Myanmar, was reappointed to the position in 2013 by former president Thein Sein, after previously serving under Burma’s former military junta.
Business Weekly Lead Story News
In business this week: A new 10,000 kyat note; Japanese assistance to upgrade postal system; Singapore leads investment in new tax year.
Central Bank governor describes the opening of Bank of Tokyo-Mitsubishi UFJ – the first foreign bank to launch in Burma – as a “new milestone”.
Satt Aung, the vice-president of the Central Bank of Myanmar, says that Burma will soon have mobile banking and electronic transactions for shopping, making payments and even paying for taxis.
The Burmese parliament’s upper house passed a bill calling on the government to adopt policies that will control monetary inflation.
Burma’s lending and savings rates are among the highest in the world, but now the Central Bank is weighing up the pros and cons of bringing them in line with international standards.
Burma’s central bank is poised to win independence to set monetary policy, its deputy governor said, in what would be a major economic reform by a government seeking to attract foreign investors
