Banking Infrastructures: AGM of CHID and inspection at MADB

The 11th Annual General Meeting of Construction, Housing and Infrastructure Development Bank (CHID) took place at its Head Office in Dagon Township, Yangon on Saturday. Patron of CHID Bank, Union Minister for Construction U Myo Thant presided over the meeting.

Speaking on the occasion, the Union Minister outlined the goals of establishing CHID in May 2013, which began operations in January 2014, to support the construction and housing sector and create an effective financial management system to meet the public basic needs. CHID Bank is consistently and efficiently executing its operations in alignment with the directives of the Central Bank of Myanmar.

The Union Minister emphasized the need to comply with the bank's rules and regulations and to continuously shift towards digital banking in line with technological advancements. He stressed that improving the banking industry requires in-house training, external courses, workshops, both theoretical and practical experience and mentorship from senior employees in addition to on the job training, to develop human resources.

Following the Union Minister’s speech, the Chairman and officials of CHID Bank reported on the bank's operations for the 2023-2024 fiscal year and ongoing activities for 2024-2025.

The meeting also included the approval of the 2023-2024 audit report, resignation of old members and election of new directors, appointment of external auditors for 2024-2025, determination of fees, and responses to shareholder questions.  It was concluded by a closing speech of Union Minister, followed by documentary photo session.

The Union Minister and party then proceeded to Myanma Agricultural Development Bank in Lanmadaw Township. They inspected renovation work to preserve its original appearance and reviewed progress and future plans. Then, the Union Minister provided necessary instructions and conducted a detailed site inspection.