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Private banks may face a liquidity crisis due to the junta’s new banking regulations
Private banks have raised concerns after the junta’s Central Bank of Myanmar (CBM) recently announced that they must deposit 2.5 percent of their cash...
Banking on Shwedagon
Burma’s most iconic Buddhist monument, Shwedagon Pagoda, has a fund of nearly 70 billion kyat (US$52 million) sitting in a bank account, earning yearly interest of up to 4bn kyat.
Banking on Burma, Woodside Energy powers up
Burma is the centre of attention for Woodside Energy following the Australian company’s discovery of gas off the coast of Arakan State last year....
Banking shutdown ‘just a rumour’, says Central Bank
As the Burmese kyat loses value, more and more customers have been withdrawing their savings.
Black market banking brings billions from China
As the illegal trade in jade, timber and drugs along the Sino-Burmese border appears unstoppable, black market banks have become a major channel for laundering criminal assets.
Credit cards land as banking goes private
Burmese required to deposit $1000 in shaky banking sector before receiving the new cards, which follow the opening of a number of private banks in the country
