As South-east Asia’s largest country and one of its richest in terms of natural resources, Myanmar’s largely unbanked population of over 53m presents vast growth opportunities. Already, rising demand for the newly emerging financial sector has led to a sizeable expansion of services and investments. In the few short years that have passed since Myanmar embarked on the path of liberalisation and democratisation, the country has attracted interest from international financial intermediaries, while…
From The Report: Myanmar 2018
View in Online Reader
Myanmar’s largely unbanked population of over 53m presents vast growth opportunities, and rising demand for the newly emerging financial sector has already led to a sizeable expansion of services and investments. Enthusiasm for the Myanmar market among private domestic and international insurers has been high, as the country promises significant potential returns. With the new Yangon Stock Exchange (YSX) established as recently as October 2015, Myanmar’s capital markets are at a very early stage of development; however, the authorities are embarking upon a series of legislative and regulatory reforms. Notably, this will involve removing some of the main barriers to entry for both domestic and international players. This chapter contains interviews with U Bo Bo Nge, Deputy Governor, Central Bank of Myanmar; Neil Emerson, Senior Vice-President and Managing Director for the Asia-Pacific Region, Diebold Nixdorf; Kamalkant Agarwal, Head of International Banking Business, Siam Commercial Bank; and Daw Sandar Oo, Managing Director, Myanma Insurance; and Chairperson, Myanmar Insurance Association.