Banking Sector: CBM And Myanmar Banks Association Meet

Governor of the Central Bank of Myanmar [CBM] U Than Nyein called for regular meetings between the CBM and the Myanmar Banks Association and to strive for the stable development of the banking sector in line with the discussion and recommendations of the bank presidents.

The directors-general, chairman and executive members and presidents of the state-owned banks and private banks were urged to do so at the meeting between the CBM Governor and the executive members of the Myanmar Banks Association. The financial and monetary policies for development are being implemented in a balanced manner to develop the banking sector stably, and as a result of all the banks working together to provide services, the use of banks has increased among the people and the confidence in the banking system has improved, the Governor said.

When banks were facing difficulties, the CBM provided liquidity support, relaxed set ratios to be followed, and provided necessary support. It is necessary for the banks to continue following the guidelines of the central bank for the success of their business, he added.

Also, Deputy Governor of the Central Bank of Myanmar U Win Thaw said that the banks are continuously being provided with the necessary liquidity support, and it is necessary to continue to follow the methods to be carried out. Deputy Governor of the CBM Daw Than Than Swe also added that all banks are required to strictly comply with the regulations, directives, rules and procedures issued by the CBM.