BUSINESS – Foreign banks ready paperwork for launch in Burma

Overseas banks can now register with Burma’s Central Bank to apply for various banking services and operations, according to a Bank official who said that a board had been formed to scrutinise foreign bank operations. Thirty-five foreign banks currently have representative offices in the country, a step that is required before licenses can be granted and branches opened. Bank of India, ANZ and various Thai, Japanese, Korean and Chinese banks are among them.