July 03, 2017

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Central Bank of Myanmar members discuss coordination with relevant ministries

Union Ministers U Soe Thane delivers speech at coordination of Central Bank of Myanmar. Photo: CBM
Union Ministers U Soe Thane delivers speech at coordination of Central Bank of Myanmar. Photo: CBM

A WORK coordination meeting attended by the Central Bank of Myanmar, ministries and private banks was held at the CBM on Monday.
Present were Union Ministers U Soe Thane and U Zeyar Aung, Governor U Kyaw Kyaw Maung of the Central Bank of Myanmar, Deputy Ministers Brig-Gen Kyaw KyawTun, Dr Maung Maung Thein, vice governor of the CBM Dr Pwint Hsan and officials from private banks.
The purpose of the meeting was to increase the efficiency of the Central Bank of Myanmar by coordinating with ministries that lay down financial, trade and economic policies, according to Union Minister U Soe Thane.  He also pointed out the need to improve banking services for the public.
He added that Myanmar has been gaining progress in Ease of doing Business Index, Corruption Perception Index and Per Capita Income year by year issued by international community.
The union ministers, deputy minister and central bank officials discussed foreign investment, reducing budget deficits and spending, the need to increase revenue, export and import strategies, the revocation of foreign exchange licences and the reserve requirement for private banks.
Officials of private banks reported on difficulties in providing services at the meeting.—Myanmar News Agency

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