ANZ Myanmar

ANZ wins final approvals to open in Myanmar

ANZ joins other financial institutions queuing up to tap into Myanmar’s nascent but fast-growing financial markets. However, the rush into the emerging market poses serious operational risks.
<div style="text-align: left;">
ANZ became the first Australian bank to win approval in Myanmar last December
</div>
<div style="text-align: left;"> ANZ became the first Australian bank to win approval in Myanmar last December </div>

ANZ has officially opened a representative office in Myanmar, which is emerging from years of military dictatorship, after receiving the government’s final approval.

The move comes as financial institutions from around the world are studying how they can tap into the development of Myanmar’s nascent financial markets.

Some have already expressed interest in setting up or have already taken steps to provide financial services to the Southeast Asian country’s growing population of more than 60 million, such as Mastercard, Standard Chartered and Japanese and Korean firms.

However, financial institutions still face considerable hurdles to doing business in Myanmar, such as the country’s patchy infrastructure...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222