Search results
Results from the WOW.Com Content Network
The Central Bank of Myanmar was founded as the Union Bank of Burma on 3 April 1948 by the Union Bank of Burma Act, 1947 [2] [3] and took over the functions of the Rangoon branches of the Reserve Bank of India. [4]
The 2003 banking crisis of Myanmar was a major bank run in private banking that hit Myanmar (Burma) in February 2003. It started with a decline in the trust for private financial institutions following the collapse of small financial enterprises and proliferating rumors about the liquidity of major private banks.
This is the list of banks in Myanmar. There are a total of 31 local banks and 13 foreign branched banks in Myanmar. There are a total of 31 local banks and 13 foreign branched banks in Myanmar. [ 1 ]
In August, the Central Bank of Myanmar tried tethering the kyat 0.8% either side of its reference rate against the dollar, but gave up on Sept. 10 as pressure on the exchange rate mounted.
Burma Economic Bank was established as subsidiary of the State Commercial Bank (SCB) on 2 April 1976, under the Bank Act of 1975. The law reversed a 1967 law (The People's Bank of the Union of Burma Act of 1967), by splitting the People's Bank into four separate state-owned banks, namely the Union of Burma Bank (UBB), the Burma Economic Bank (BEB), the Burma Foreign Trade Bank (BFTB) and the ...
Dozens of Myanmar civil society groups wrote to the departments of State and the Treasury on Monday calling for the U.S. to block the state-owned Myanma Economic Bank from using the dollar-based ...
Myanmar's 2018 Article IV consultation indicated the country's projected improvements to stagnate. Their banking sector has undergone restructuring, uncovering many fragile aspects of the banks; [ 19 ] their four state-owned banks strengthened state sectors and large firms, allowing for private sector firms to procure a large market share of ...
In December, the World Bank had projected Myanmar's economy would grow by around 2% during the current fiscal year, after estimated GDP growth of 1% in the year that ended in March 2024. "The ...