Kanbawza Bank also known as KBZ Bank, opened a representative office in Singapore on 6th October, its second overseas branch office following the launch of an office in Thailand.
The opening ceremony was held in the presence of Myanmar Ambassador to Singapore U Htay Aung, officials of the Monetary Authority of Singapore-MAS, Chairman of KBZ Bank U Aung Ko Win, the chairman of the Union of Myanmar Federation of Chamber of Commerce and Industry U Win Aung, General Secretary of the Association of Banks in Singapore-ABS Ms Ong-Ang Ai Boon, Executive Directors of KBZ Bank Daw Nang Laung Kham and Daw Nang Kham Naung, senior officials of KBZ Bank and banks in Singapore, heads of international banks and monetary associations and guests.
“The opening of the representative office of KBZ Bank is aimed at assisting in boosting international investment in Myanmar,” said U Nyo Myint, Senior Executive Director of the KBZ Group of Companies. “We also believe that an office in Singapore will help us
closely cooperate with home banks, international banks and monetary organisations in Singapore”.
On behalf of the bank, U Nyo Myint expressed his delight over opening the office in order to contribute to development of Myanmar’s economy.
Before the dinner, Executive Director Daw Nang Kham Naung, Ambassador U Htay Aung, Ms Ong-Ang Ai Boon and U Wing Aung extended greetings to invited guests.
KBZ received permission to open the representative office in Singapore from the city state’s Monetary Authority of Singapore on 15 July for its achievements in banking sector and corporate governance.
KBZ has also received permission from the Central Bank of Malaysia to open a representative office in Malaysia.
With more than 420 bank branches and more than 17,000 employees, KBZ provides banking services nationwide and topped the list of largest taxpayers for four executive years in Myanmar.
Since 2007, the bank’s Brighter Future Myanmar Foundation has spent more than US$109 million on philanthropic works, including disaster preparedness, resettlement and rehabilitation.—Thura Lwin (Eco)