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Myanmar Financial Services Sector Research Highlights

Myanmar Financial Services Sector Research Highlights
Economic News

Covid-19 and Myanmar: can the fledgling insurance sector adapt to the disruption?
OBG
plus

Prior to the outbreak of Covid-19, Myanmar's insurance sector was going through a period of rapid change following the entry of foreign insurers in 2019. Amid the disruptive environment of the pandemic, the fledgling insurance industry has continued to develop new distribution channels and services in response to shifting demands from the market. The country’s penetration levels are among the…

Economic News

Covid-19 and fintech: Myanmar's chance to expand financial inclusion?
OBG
plus

Myanmar has seen an increase in financial technology (fintech) and digital payment offerings since the outbreak of the coronavirus pandemic,raising hopes for the expansion offinancial inclusion in a country where banking penetration remains below the regional average. After Covid-19 arrived in Myanmar, fintech solutions quickly proved to beeffective in encouragingsocial…

Analysis

Asia Pacific aligns financial reporting regulations with international norms
OBG
plus

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. However, one regulatory shift in particular has monopolised…

Analysis

New regulations lead to liberalisation of financial services sector in Myanmar
OBG
plus

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 equity of up to 35% in local banks, starting in January…

Analysis

Increased access to microfinance boosts inclusion in Myanmar
OBG
plus

In a country where 70% of the population work in rural communities, and around a quarter of all citizens live below the poverty line, microfinance is one of the few available sources for personal and business funding. Myanmar’s microfinance institutions (MFIs) are thus a vital part of efforts to boost access to credit. Indicators of financial inclusion have historically been low in the country.…

Analysis

Asia Pacific aligns financial reporting regulations with international norms
OBG
plus

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. However, one regulatory shift in particular has monopolised…

Analysis

Mobile banking prioritised under Myanmar's financial inclusion strategy
OBG
plus

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 and products. The country’s electronic payments…

Analysis

Foreign investment leads to new capital and training for Myanmar insurers
OBG
plus

November 2019 saw five foreign life insurance companies gain licences to operate fully owned subsidiaries in Myanmar, heralding the start of a new chapter in the industry’s history. At the same time six joint ventures between foreign and local insurers were also licensed, with this, too, set to have a strong impact on the dynamism of the sector. The opening up of the market to these foreign…

Overview

Emerging markets respond to retrenchment of overseas banking operations
OBG
plus

In the three decades before the 2007-08 global financial crisis, the world’s financial networks became increasingly interconnected. Financial system regulatory convergence and the growing penetration of World Trade Organisation rules, as well as the creation of currency unions such as the euro, resulted in a surge in cross-border capital flows. Global banks began to see the emergence of a…

Overview

Banking sector formalisation and financial inclusion open Myanmar's market up to foreign participation
OBG
plus

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 the trajectory of reform launched in 2016 by the…

View More
Featured Sectors in Myanmar
  • Asia Construction
  • Asia Energy
  • Asia ICT
  • Asia Industry
  • Asia Transport
Featured Countries in Financial Services
  • Egypt Financial Services
  • Gabon Financial Services
  • Ghana Financial Services
  • Myanmar Financial Services
  • Papua New Guinea Financial Services
  • Philippines Financial Services
Featured Reports in Myanmar
  • The Report: Myanmar 2020
  • The Report: Myanmar 2019
  • The Report: Myanmar 2018
  • The Report: Myanmar 2017
  • The Report: Myanmar 2016
  • The Report: Myanmar 2015

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