Banking Issues: 10th annual general meeting of CHID Bank

The 10th annual general meeting of Construction, Housing, and Infrastructure Development Bank (CHID) was held at the head office in Dagon Township of Yangon on Sunday afternoon.

Speaking on the occasion, Union Minister for Construction and patron of the CHID bank U Myo Thant said that the CHID bank was established in May 2013 with 40% capital fund by the Ministry in cooperation with local private entrepreneurs and banking operations started in 2014 January.

This establishment intends to assist development of construction and housing sector and create an effective financial management system that would ensure all individuals to obtain the right to own housing.

He highlighted the vital role of banks which is the main driving force of the economic sector of the country and the needs to carry out the operations of the CHID Bank in a systematic manner in accordance with the instructions of the Central Bank of Myanmar.

He urged all to provide better banking services by following the rules and regulations and called for concerted efforts for the digital transformation in banking system.

The remark was followed by reports about the banking operations for the 2022-2023, the processes to be carried out in the 2023-2024 fiscal year, financial statements and annual reports, approval for external audit report for 2022-2023, announcement of the name list of directors and election of new directors by shareholders. And, the Union Minister delivered concluding remarks.