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The Myanmar Agriculture and Rural Development Bank
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State owned Bank established in 1990 with
the intension to promote
Agricultural, Livestock and
Rural society Economic Enterprise including
processing,
production.
Storage distributions, and marketing
relating to Agro and Livestock
based Industries. It has
a country wide network of (14) regional offices,
164-
brameches and 48 agency offices providing short and
long term credit for crop
production, salt production,
livestock, fish and dairy farming etc. The saves get
10%
interest on their deposit and the saves is allow to
borrow four times his
saving at 15% interest concerning
farm development.
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The Myanmar Economic
Bank |
Established in 1975 for the purpose of developing
commercial and
Industrial Banking. It also acts as a
fiscal agent of the state providing
nationwide
commercial banking with 259 branch offices. The
functions of the
bank are accepting current a/c, saving
deposit a/c issuing of saving
certificates, Advancing
of loan to economic enterprise and personal
loans.Financing private business undertaking such as
production, trade and
services. The bank also acts as
agent of the Central Bank for operation of
currency
chests throughout he country. State economic enterprises
and
government departments accounts are also maintain by
this bank small loan
business undertake by this bank was
handed over to Myanmar small loan
enterprises with
effect from 1993/94. To promote boarder trade Myanmar
Economic Bank branches has been licensed for handing of
Foreign currency
Accounts. This bank is also planning to
extend its banking business from
domestic banking to
International Financial Services. |
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The Myanmar
Foreign Trade Bank |
This bank specialized in conducting Foreign Exchange
operation concerning
external trade and non-trade
Foreign Exchange operation. Executing contract
relating
receipt and payment of Foreign Exchange maintain
clearing account
under bi-lateral counter trade
agreement. Myanmar Foreign Trade Bank is also
allowed to
accept deposits in kyats as well as Foreign Currencies
Giving of Loan
and Advances bolt seemed and unseemed,
Issuing, Accepting, Discount buying,
selling and
collecting all securities, including Bills of Exchange,
sale and
purchase of Travelers cheques and Foreign
Currencies. Fund Transfer issue and
handing of Bank
Guarantees. Accepting valuable for safe keeping making
statue
enquiry of local and foreign firms and banks.Myanmar Foreign Trade Bank is
planning to change from a
specialized bank to a general commercial bank and
also
planning for financing of export trade.Correspondent relationship with first
class
International Banks were established in 58-countries
hence transactions
can be made with almost any country
in the world. |
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