July 02, 2017

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Malaysian lender opens first branch in Yangon

Governor of Central Bank of Myanmar U Kyaw Kyaw Maung and officials formally open  Yangon branch of Maybank.
Governor of Central Bank of Myanmar U Kyaw Kyaw Maung and officials formally open Yangon branch of Maybank.

Malaysia’s Maybank opened its first Myanmar branch Monday in Yangon, becoming the latest foreign lender to launch operations in the country.
U Kyaw Kyaw Maung, governor of the Central Bank of Myanmar and Mr Mohd Hanif Abd Rahman, Malaysian Ambassador to Myanmar, attended the opening ceremony for the branch, located in Central Point Tower on Sule Pagoda Road.
After an opening speech by Maybank CEO Mr Soon Su Long, CBM Governor U Kyaw Kyaw Maung in an address said Myanmar had granted operating licenses to foreign banks capable of helping improve the country’s financial sector.
The bank donated USD 11,000 to the Myanmar government via the ambassador to help victims of flash floods and landslides in the country.

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