Where should insurers look to increase insurance penetration rates in the consumer market?
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Articles & Analysis | Banking sector formalisation and financial inclusion open Myanmar's market up to foreign participation from The Report: Myanmar 2020
The pace of reform in Myanmar’s banking sector has been increasing in recent years, with liberalisation taking a major step forwards in November 2019 when the Central Bank of Myanmar (CBM) announced that foreign banks would be able to get a licence to engage in onshore retail through a subsidiary or joint venture from 2021. These steps follow...
Articles & Analysis | Asia Pacific aligns financial reporting regulations with international norms from The Report: Myanmar 2020
The banks of Asia Pacific have been subject to successive waves of regulatory changes in recent years. Remaining compliant with strengthened anti-money laundering rules, know-your-customer guidelines and a raft of sustainability and transparency initiatives proved to be a resource-consuming process for the region’s lending institutions.
Articles & Analysis | Mobile banking prioritised under Myanmar's financial inclusion strategy from The Report: Myanmar 2020
Mobile banking has been a key factor in the recent improvement of Myanmar’s financial inclusion rates. Following the liberalisation of the telecoms industry in 2014, the country has seen a surge in mobile phone ownership, partly as a result of cheaper data and better network competition, making it an effective channel for financial services...
Articles & Analysis | New regulations lead to liberalisation of financial services sector in Myanmar from The Report: Myanmar 2020
As part of ongoing efforts to liberalise the financial services sector and increase credit to the private sector, the Central Bank of Myanmar (CBM) has introduced regulations to facilitate foreign investment in domestic lenders. In January 2019 the CBM issued Regulation No. 1 of 2019, allowing foreign banks and financial institutions to hold...