• Burmese
Monday, June 16, 2025
No Result
View All Result
NEWSLETTER
The Irrawaddy
30 °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
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • 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
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News

Central Bank Removes Lending Restrictions on Foreign Bank Branches

The Irrawaddy by The Irrawaddy
November 9, 2018
in News
Reading Time: 2 mins read
0 0
A A
4.5k
VIEWS
Share on FacebookShare on Twitter

YANGON—The Central Bank of Myanmar on Thursday announced that the Myanmar branches of international banks are now permitted to extend loans to local companies and provide other banking services, opening up a new source of funding to local corporates.

Currently, branches of 13 international banks from China, Japan, Singapore, India, Malaysia and Vietnam are listed with the Central Bank, while 49 other banks have representative offices here.

Previously, the international branches were only allowed to finance foreign companies operating in Myanmar. 

RelatedPosts

March Quake to Drive 2.5% Drop in Myanmar GDP, Says World Bank

March Quake to Drive 2.5% Drop in Myanmar GDP, Says World Bank

June 13, 2025
305
Chameleon Crony: How Myanmar’s ‘Baby’ Tycoon Thrived Across Four Eras

Chameleon Crony: How Myanmar’s ‘Baby’ Tycoon Thrived Across Four Eras

June 10, 2025
4.2k
Junta Boss Drops Green Bombshell; Goes Plane-Crazy Over Dollar Shortage; and More  

Junta Boss Drops Green Bombshell; Goes Plane-Crazy Over Dollar Shortage; and More  

June 7, 2025
1.8k

U Saw Bo Bo, an ex-Citi banker, said the central bank’s move would facilitate the circulation of both local and foreign currencies through the national economy.

“If there is more currency in circulation, businesses will be more active. This may help reduce exchange rate fluctuations caused by poor circulation of foreign currencies,” he said.  

At the same time, he said, the central bank’s green light for foreign banks to provide a full range of banking services to local corporations will pose a challenge to the local banking industry, which is ill equipped to compete with foreign banks in terms of the U.S. dollar interest rate, and providing long-term collateral-free loans.

“Foreign banks have much better technology and their service fees are lower. Therefore, big corporations, especially multinational ones, may gradually seek services from foreign banks,” he explained.

Despite the challenges, local banks have their own strengths.

“There may be a lot of inconveniences for local businessmen engaging with foreign banks. There is a saying among international businessmen that domestic banks are the best to partner with. And foreign banks will in no way be able to compete with local banks in terms of their branch networks,” U Saw Bo Bo said.  

Your Thoughts …
Tags: BanksderegulationEconomyFinance
The Irrawaddy

The Irrawaddy

...

Similar Picks:

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

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

by The Irrawaddy
September 14, 2023
28.7k

The arrest of ‘kickback king’ Lt-Gen Moe Myint Tun, once seen as a possible successor to Min Aung Hlaing, comes...

Read moreDetails
Myanmar Junta Enforces Rule Requiring Migrant Workers to Remit 25% of Pay
Burma

Myanmar Junta Enforces Rule Requiring Migrant Workers to Remit 25% of Pay

by The Irrawaddy
August 5, 2024
15.1k

Those working in Thailand under a govt-to-govt scheme who fail to remit 25% of their pay via the formal banking...

Read moreDetails
Myanmar Junta’s ‘Brainless’ Response to Soaring Gold Prices Leaves Market in Disarray
Analysis

Myanmar Junta’s ‘Brainless’ Response to Soaring Gold Prices Leaves Market in Disarray

by Hein Htoo Zan
June 4, 2024
14.8k

Arrests, corruption, false receipts—the crisis in the gold and currency markets bears all the hallmarks of the junta’s inability to...

Read moreDetails
Power-Drunk Junta Tries Selling Myanmar Beer at Gunpoint
Business

Power-Drunk Junta Tries Selling Myanmar Beer at Gunpoint

by Hein Htoo Zan
September 14, 2023
13.8k

Consumer boycott enters new phase as generals launch armed counter-offensive at shops and pubs in Yangon.

Read moreDetails
Touting Holidays in a Flooded Warzone; Praising Savior China; and More
Junta Watch

Touting Holidays in a Flooded Warzone; Praising Savior China; and More

by The Irrawaddy
October 5, 2024
13.3k

Also this week, the regime launched its pre-election census, and unveiled a flood relief budget dwarfed by military spending as...

Read moreDetails
Myanmar Currency Plunges, Gold Price Soars Amid Junta’s Botched Interventions
Business

Myanmar Currency Plunges, Gold Price Soars Amid Junta’s Botched Interventions

by The Irrawaddy
July 12, 2024
13.1k

Private lenders have imposed daily withdrawal limits as depositors, rattled by the junta’s action against banks, rush to pull out...

Read moreDetails
Load More
Next Post
No U Turn frontman Ye Ngwe Soe. / Djavanshir Nico

Explore Lion City’s Food and Arts at 3rd Singapore Festival

Fired factory workers stage a sit-in to demand the release of three detained colleagues at the Paleik Police Station in Mandalay Region on Thursday. / Zaw Zaw / The Irrawaddy

Mandalay Textile Factory Rehires Fired Workers, But Protest Leaders Sued

No Result
View All Result

Recommended

The Hidden Fallout From China’s Cross-Border Crime Crackdown in Myanmar

The Hidden Fallout From China’s Cross-Border Crime Crackdown in Myanmar

7 days ago
1.6k
How the Myanmar Military’s Propaganda Efforts Have Evolved Over the Decades

How the Myanmar Military’s Propaganda Efforts Have Evolved Over the Decades

5 days ago
1.1k

Most Read

  • Untested Commander Takes Charge as Myanmar Military Faces Toughest Challenge in Decades

    Untested Commander Takes Charge as Myanmar Military Faces Toughest Challenge in Decades

    shares
    Share 0 Tweet 0
  • Sagaing Protesters Condemn Civilian Govt Toll Charges

    shares
    Share 0 Tweet 0
  • Myanmar Tourism Sector Mocks Junta’s Russia Tourist Drive

    shares
    Share 0 Tweet 0
  • Is TNLA, Under Chinese Pressure, Conceding Northern Shan Gateway to the Regime?

    shares
    Share 0 Tweet 0
  • Sagaing Region Braced for Myanmar Junta Airstrikes After Jet Crash

    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

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
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
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Books
  • 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.