In February 2013 the IMF called on the Algerian authorities to take a number of measures to strengthen the financial system, including boosting banking intermediation and further tackling non-performing loans (NPLs) at public banks. The country benefits from a sizeable and liquid banking sector, but key indicators for activity and usage remain...
Against the backdrop of a large government homebuilding programme, state banks are stepping up the role they play in housing and real estate finance. Outside of the public housing segment, cheap long-term mortgages are available, in particular from public banks, though retail mortgages are dwarfed by state spending on housing and supply remains an...
The Myanmar Companies Act requires companies to appoint an auditor, and the first auditor may be appointed by a company’s directors. Subsequent auditors may be proposed by the company’s directors and approved by the shareholders at the annual general meeting.
With a growing number of courses across the country, Myanmar is quickly becoming a regional golfing destination. There are a dozen courses in the business capital of Yangon alone, and more on the way, meaning golfers are spoilt for choice. While locals may be known for their down-to-earth mentality, they show real enthusiasm once they are out on...
With a coastline stretching out over 2832 km along the Andaman Sea and the Bay of Bengal, Myanmar’s beach resorts are increasingly becoming a tourist hot spot. One of the more popular destinations is Ngapali Beach, which is located in Rakhine State and was known as Sandoway during the colonial period. This tranquil paradise has no remnants of...
Yangon Port is in some ways still decidedly 19th-century. Cargo handling is manual and paperwork old-fashioned – a shipper must submit copies of each document to three separate offices. There is no single window and no electronic reporting. Bills of lading are inaccessible online and tracking is done by hand, making it hard to know the precise...
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