Day: February 11, 2019

MBF signs K2 billion funding agreement with Yoma Bank

MBF signs K2 billion funding agreement with Yoma Bank

Mahar Bawga Finance (MBF), a Myanmar non-banking finance institution (NBFI), and Yoma Bank last Friday signed a semi-collateralised funding agreement under which Yoma will provide MBF with K2.2 billion in funds to support its operations. The agreement, which aims to address growing borrower demand for unsecured loans for personal or business development, could see MFB […]

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Crop drying plant being built in Hopong for K1 billion

Crop drying plant being built in Hopong for K1 billion

A drying plant is being constructed for crops such as strawberry, mango, and pineapple from Hopong Township, Shan State, at a cost of K1 billion, according to the Ho Nam Company. The factory is expected to be operational in March. A Denmark- based NGO has invested K75 million for the drying plant, which will include […]

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Central bank to issue official remittance licences soon

Central bank to issue official remittance licences soon

The Central Bank of Myanmar (CBM) will grant official remittance licenses to authorized money changers within two months. The move is expected to curb illegal remittances and the informal flow of foreign currency into the country under the Hundi. The informal flow of currency outside the banking industry through unofficial money transfers is much larger […]

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Massive township development set to proceed

Massive township development set to proceed

The massive New Mandalay Resort City (NMRC) integrated township project is set to move forward on a 4000 hectare site off the Mandalay-Lashio highway in Mandalay Region’s Pyin Oo Lwin district. According to the Ministry of Construction,three developers will cooperate on the project that will see urban and infrastructure consulting firm Surbana Jurong International Consultants […]

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