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Burmese Banks Sign Deal with Visa

5 November 2012

Officials in Burma say three private banks have signed agreements with Visa Inc to enable international travelers to use credit cards and withdraw cash from ATM machines by January. Until recently, foreign visitors were barred from using credit cards in the country because of US and EU financial sanctions. Those restrictions were lifted earlier this year. Than Lwin, deputy chairman of Kanbawza Bank, said the deal between Visa and his bank, as well as two others—Cooperative Bank and Myanmar Oriental Bank—was a “a milestone” that will boost the tourism industry in particular.—AP