Rangoon, Burma (BBN) – Foreign banks may now register with the central bank of Burma, officially known as Myanmar, to apply for various banking services and operations, a CBM official said.
The official also said a board had been formed to scrutinise foreign bank operations in the country.
Thirty-five foreign banks currently have representative offices in the country, a step that is required before licenses can be granted and branches opened, according to reports.
Bank of India, ANZ and different Thai, Japanese, Korean and Chinese banks are among them.
BBN/SSR/AD-31May14-4:40 pm (BST)
