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MYANMAR: Overseas Banks Authorised to Lend to Approved Domestic Importers

For the first time, all the 13 overseas-headquartered banks currently operating in the country are to be permitted to extend credit to reputable import-oriented domestic businesses. Earlier this year, country’s export-focused sector was granted a similar entitlement. While both developments mark the country’s continued move towards greater liberalisation in the banking sector, offering retail banking services remains forbidden for all overseas financial institutions.

Content provided by Picture: HKTDC Research
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