Arab Today, arab today myanmar to allow foreign banks to operate in september
Last Updated : GMT 12:04:57
Arab Today, arab today
Arab Today, arab today

Myanmar to allow foreign banks to operate in September

Arab Today, arab today

Arab Today, arab today Myanmar to allow foreign banks to operate in September

Foreign banks to operate in Myanmar
Yangon - XINHUA

The central bank of Myanmar will allow foreign banks to conduct business in the country in September, local media reported Saturday.
At least five to 10 out of over 40 foreign banks having representative offices in the country will be chosen in line with rules and regulations for the sake of domestic banks and local entrepreneurs, the Union Daily quoted U Set Aung, vice-governor of Myanmar's central bank, as saying.
The permitted foreign banks must bring at least 75 million U.S. dollars in capital, of which 40 million U.S. dollars will be kept under the supervision of the central bank.
Rules and regulations to govern such operation have been prepared with the help of the International Monetary Fund (IMF).
Local banks are worried about the arrival of foreign rivals which are strong in terms of capital, technology and human resources, the report said.
A board for selecting foreign banks has been set up consisting of officials and experts from the Finance Ministry, the central bank, the Attorney-General's Office, a German advisory team, the IMF and the World Bank.
So far, there are more than 20 private banks and three state- owned banks in Myanmar.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today myanmar to allow foreign banks to operate in september Arab Today, arab today myanmar to allow foreign banks to operate in september

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today myanmar to allow foreign banks to operate in september Arab Today, arab today myanmar to allow foreign banks to operate in september

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday