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MYANMAR: Country’s First Official Credit Bureau Promised Within 12 Months

The country is aiming to establish an official credit bureau over the next 9-12 months, giving local banks and financial institutions access to the financial history of potential domestic borrowers for the first time. In addition, the Central Bank of Myanmar has announced it is to recommend lowering the country’s 13% interest rate for local currency-denominated loans, as well as for offering collateral-free loans, once the credit bureau (and an associated loan data centre) is up and running.

Content provided by Picture: HKTDC Research
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