BUSINESS – Indonesian state bank to open in Rangoon

Bank Negara Indonesia (BNI) is to open its first ever representative office in Burma in November, the Jakarta Post reported on Saturday. The government-owned central bank says it will open in Rangoon as soon as it receives approval from the Central Bank of Myanmar. The Rangoon office will be jointly operated by BNI and state construction firm Waskita Karya, the report said, adding that BNI is looking to work alongside Kanbawza Bank and possibly Cooperative Bank.