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Bangladeshi to Set up Commodities Exchange in Burma

27 June 2013

A Bangladeshi capital market expert is preparing to create a commodities exchange in Burma, according to a report by the Dhaka-based newspaper The Daily Star. “It will take at least nine months to begin commercial operations of the commodities exchange in Myanmar,” said Wali-ul-Maroof Matin, who recently received permission from Burma’s Commerce Ministry to complete the project, which he started six months ago. “Resources in Myanmar are extraordinary, with a huge variety and quantity, such as rice, wheat, lentil and timber,” added Matin, who holds a 98 percent stake in Myanmar International Commodity Exchange, a company he incorporated to undertake the project.