Efforts to Establish Myanmar Pay: Meeting on DPS (Myanmar Pay) held

Meeting regarding with policy and technology of Digital Payment Switch (Myanmar Pay) which is being implemented by Central Bank of Myanmar (CBM) was held at the meeting hall of the Central Bank of Myanmar (Yangon Branch) on Friday.

The meeting was attended by the Chairperson of CBM Daw Than Than Swe and officials concerned, technical consultant experts from KBZ Bank and Wave Money and concerned officials from Pay Plus Co., Ltd. During the meeting, the Chairperson said that Digital Payment Switch is being implemented for the development of Myanmar financial system and promotion of participants in the country’s financial sector.

And, it is also Local Currency Settlement Project. She also said that duties and working groups of CBM, Pay Plus and technical Consultant Team were assigned in accordance with sections for this project and these working groups need to finish their implementation processes in project timeline.

And, the matters on the policies and technologies are needed to take into account of international experiences to get ready in cross-border QR payments. She also added that setting of policy guidelines are needed to implement rapidly. After making explanation on implementation of Myanmar Pay’s Mockup by the experts from KBZ Bank Ltd., and Pay Plus, the Chairperson of CBM gave necessary discussions and the meeting was concluded. 

In the afternoon, the cash donation ceremony for Myanmar Women Entrepreneurs' Association by the Industrial and Commercial Bank of China (ICBC) (Yangon) was held at the branch office (Yangon) of the Central Bank of Myanmar in Yangon on Friday, under the guidance of the Central Bank of Myanmar.

The ceremony was attended by the Governor of the Central Bank of Myanmar Daw Than Than Swe, Director General and Deputy Director General of Foreign Exchange Management Department, CEO of ICBC (Yangon) Mr. Liu Ming, Chairman of Women Entrepreneurs' Association and other concerned officials.

The cash donation of ICBC (Yangon) is implementing as a corporate social responsibility (CSR) program, intending to enhance the socio-economic life of Myanmar women, promote the emergence of women entrepreneurs and to support the role and contribution of women in the bids of country’s development.

At the ceremony, the Governor of the Central Bank of Myanmar gave an opening speech, and the CEO of ICBC (Yangon) made a memorable speech regarding the donation. Then, the Chairman of Women Entrepreneurs' Association received the donation from ICBC (Yangon) and expressed words of thanks. After delivering closing remarks by the Governor of the Central Bank of Myanmar, the ceremony was concluded.