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Myanmar - Banking

As of March 2016, Myanmar consists of 24 private banks and 04 State owned banks, amounted to around 55% of GDP. As of June 2016, 1,890 bank branches are operating in Myanmar.

Banks in Myanmar are often classified as state owned banks, semi-government banks, and private banks. The domestic banks are classified in terms of three categories: (i) 100% government-owned, (ii) government-ownership of less than 100% and (iii) non-government-owned institutions. A secondary classification follows: the government-owned banks are further classified according to ownership by Union Government vs. ownership by municipalities. The partly government-owned and non-government owned banks are further classified according to their legal form: private, public non-listed and public listed.

Myanmar remains a cash-oriented economy. Less than 10% of Myanmar citizens have a bank account and that less 0.1% of the public are active in the credit market. 

Modern banking and financial services in Myanmar are in their infancy.  The banking sector comprises the Central Bank of Myanmar (CBM) which was established pursuant to the Central Bank of Myanmar Law in 1990

Local Myanmar banks are playing their part in reform initiatives by seizing the opportunity to expand their branch network and introduce new financial products. They are also entering into agreements with international credit card providers.  Since 2012 the number of ATM’s in Myanmar has increased significantly. CB Bank (CB) and Kanbawza Bank (KBZ) have led the way. Master, Visa and Union Pay cards are accepted.  Withdrawals up to $1200 per day are permitted with a maximum limit of USD$360 per transaction. Transaction fees are high. KBZ charges approximately $6 per transaction while CB charges approximately US$5.

Government-owned Banks :-

The Myanma Economic Bank (MEB), the Myanma Foreign Trade Bank (MFTB) and the Myanma Agricultural Development Bank (MADB) were all established in 1976. A fourth state bank, the Myanma Investment and Commercial Bank (MICB), was set up in 1990 in order to stimulate the growth of industry and production in the country.


Name of Bank


Myanma Foreign Trade Bank


Myanma Investment and Commercial Bank


Myanma Economic Bank


Myanma Agriculture and Development Bank

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