Central Bank paves the way for rapid branch expansion

The Central Bank is making it easier for banks to open more branches by allowing them to open branches in shopping malls and other rented spaces starting in April, a director of Asian Green Development Banks said.

 

AGD director Ye Min Oo noted that banks are only allowed to open branches on land they own forcing banks to become “land owners”.

 

“Now, the central bank has given permission to open branches at shopping malls and also on rented land and in rented buildings, starting in April,” he said.

 

Ye Min Oo said the Central Bank would also allow banks to open kiosks. These changes would allow Myanmar banks to expand their branch numbers and become like banks in other countries.

source: Eleven Myanmar
http://elevenmyanmar.com/business/2620-central-bank-paves-the-way-for-rapid-branch-expansion