Myanmar central bank opens up more room for foreign banks
Seven foreign banks received a long-awaited approval to provide trade finance to local exporters
The Central Bank of Myanmar recently permitted seven foreign banks to provide trade financing to local exporters, in a move intended to widen the limited business opportunities for foreign banks in the country.
Applications from five other foreign banks are still pending approval, local media reports, adding that all the foreign banks are expected to provide trade financing within this year.
The initiative, which was announced by the CBM in December 2017, allows foreign bank branches to
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