• Burmese
Friday, December 8, 2023
No Result
View All Result
NEWSLETTER
The Irrawaddy
25 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Junta Watch
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Junta Watch
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News Burma

Govt to Establish Myanmar’s First Credit Bureau

by Myo Pa Pa San
May 14, 2018
in Burma
Reading Time: 2 mins read
A A
An employee counts banknotes at a bank in Yangon. / Reuters

An employee counts banknotes at a bank in Yangon. / Reuters

5.7k
VIEWS
Share on FacebookShare on Twitter

YANGON — The Union government has approved establishing the country’s first credit bureau, said Vice President 1 U Myint Swe.

The vice president revealed the plan during his regular meeting with private businesses at the office of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) on Friday.

RelatedPosts

Myanmar Junta Asks China to Pressure Brotherhood Alliance to End Offensive

Myanmar Junta Asks China to Pressure Brotherhood Alliance to End Offensive

December 7, 2023
2k
UN Calls for Urgent Action to Stop Arms Flow to Myanmar Junta as Civilian Casualties Soar

UN Calls for Urgent Action to Stop Arms Flow to Myanmar Junta as Civilian Casualties Soar

December 7, 2023
1.1k
Kawkareik Civilians Suffer in Myanmar Junta Bombardments

Kawkareik Civilians Suffer in Myanmar Junta Bombardments

December 7, 2023
686

“The cabinet approved the establishment of a credit bureau on May 10. The survey on ease of doing business for 2019 will end in the second week of May. So, we have given the approval ahead of this,” said the vice president.

The vice president hopes that Myanmar’s rank on the World Bank’s ease of doing business index will improve due to the establishment of a credit bureau. It will also provide small and medium enterprises (SMEs) with easier access to loans, according to the vice president.

“The credit bureau will collect information about the overall performance of individual companies so that companies [that perform well] may not need to put up collateral to get loans. The database will record the business performance of companies,” said U Toe Aung Myint, the permanent secretary of the Ministry of Commerce.

Lenders can assess the risk of providing loans to SMEs based on the information provided by the credit bureau, said joint general secretary U Aung Kyi Soe of the UMFCCI.

“So, the credit bureau will contribute to banks. Our fellow ASEAN countries have also established successful credit bureaus,” he said.

In his New Year’s speech on April 17, Myanmar’s President U Win Myint said that his cabinet would approve the credit bureau within one month to help the country’s banks assess the risk of providing loans to SMEs.

The credit bureau is a joint venture between the Myanmar Banks Association (MBA) and Asian Credit Bureau Holdings based in Singapore.

Translated from Burmese by Thet Ko Ko.

Your Thoughts …
Tags: Investment
Previous Post

Poor Prospects for Peace in Face of Military Might

Next Post

Anti-War Protesters in Yangon Detained, Sued, Released on Bail

Myo Pa Pa San

Myo Pa Pa San

The Irrawaddy

Similar Picks:

General Close to Myanmar Junta Boss Placed Under House Arrest, Interrogated for Corruption

General Close to Myanmar Junta Boss Placed Under House Arrest, Interrogated for Corruption

September 14, 2023
24.4k
Tracking the Business Empire of Myanmar Regime Stalwart Moe Aung and His Siblings

Tracking the Business Empire of Myanmar Regime Stalwart Moe Aung and His Siblings

September 4, 2023
6k
Snubbed Myanmar Junta Leader Must Watch China’s BRI Summit From Home

Snubbed Myanmar Junta Leader Must Watch China’s BRI Summit From Home

October 17, 2023
2k
China Pouring in Billions to Prop Up Myanmar’s Military Regime

China Pouring in Billions to Prop Up Myanmar’s Military Regime

August 22, 2023
2k
The Shwe Kokko project as seen on Google Maps

Myanmar Military Probes Bribery Claims Against Officers Tied to Chinese-Backed Gambling Hub

October 9, 2020
9.3k
China to Reinforce Myanmar Expansion with Free-Trade Zones on Border

China to Reinforce Myanmar Expansion with Free-Trade Zones on Border

August 28, 2023
1.6k
Load More
Next Post
Protesters and police face off at an anti-war rally in Tamwe Township, Yangon, on Saturday. / Myo Min Soe / The Irrawaddy

Anti-War Protesters in Yangon Detained, Sued, Released on Bail

President U Win Myint meets with Anti-Corruption Commission members. / President’s Office / Facebook

Anti-Corruption Commission Allegedly Investigates Union Minister

No Result
View All Result

Recommended

Myanmar Regime Stops Fuel Supplies to Yangon Factories

Myanmar Regime Stops Fuel Supplies to Yangon Factories

3 days ago
8.9k
Charting the Shifting Power Balance on Myanmar’s Battlefields 

Charting the Shifting Power Balance on Myanmar’s Battlefields 

6 days ago
7k

Most Read

  • Kyat Depreciates Further After Myanmar Central Bank Abandons Dollar Forex Rate

    Kyat Depreciates Further After Myanmar Central Bank Abandons Dollar Forex Rate

    shares
    Share 0 Tweet 0
  • Myanmar Junta Boss Tries to Drive Wedge Between Ethnic Armies, Civilians

    shares
    Share 0 Tweet 0
  • Myanmar Junta Uses Chemical Warfare: Arakan Army

    shares
    Share 0 Tweet 0
  • Myanmar Junta Asks China to Pressure Brotherhood Alliance to End Offensive

    shares
    Share 0 Tweet 0
  • Over 300 Civilians Reportedly Killed as Retreating Myanmar Military Ups Atrocities

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Letters
  • Ethnic Issues
  • Features
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.