Maybank is first Malaysian bank awarded banking licence in Myanmar

PETALING JAYA: The Central Bank of Myanmar (CBM) has granted Malayan Banking Bhd (Maybank) a banking licence to open a branch office in Myanmar, which will help strengthen the bank’s regional footprint in Asean.

The licence was given as part of CBM’s move to liberalise the banking sector in Myanmar. With the licence, foreign banks would be able to participate in previously restricted services in Myanmar, including providing loans to foreign companies as well as domestic banks.