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Thailand: SCB gets tentative nod for Myanmar licence

Siam Commercial Bank (SCB), the country’s fourth-largest lender by assets, has won preliminary approval for a subsidiary business licence in Myanmar, targeting 7 billion baht in loans in the first five years of operation. The bank expects to set up the subsidiary and begin operations by the end of 2020, said chairman and chief executive […]

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Myanmar opens up to seven more Asian banks

Myanmar has granted operating licences to seven Asian banks, bringing to 20 the number of foreign banks allowed to do business in the previously isolated market. Bank of China (Hong Kong), Taiwan’s Cathay United Bank and Mega International Commercial Bank, Industrial Bank of Korea, Seoul-based KB Koomin Bank, Korea Development Bank and Siam Commercial Bank […]

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Myanmar: Trade gate at Muse closed due to COVID-19

The Mant Wain trading gate in Muse has been closed since April 5 as both governments take more stringent measures to prevent the spread of COVID-19, said U Khin Maung Lwin, assistant secretary of the Ministry of Commerce.  China no longer allows Myanmar truck drivers to cross into Yunan so Mant Wain, which is the […]

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