Microfinance Business: Microfinance Supervisory Committee's meeting

Microfinance Supervisory Committee held its meeting at the meeting hall of the Ministry of Finance and Revenue in Nay Pyi Taw on Friday.

Speaking at the meeting, Union Minister Dr Kan Zaw said the Microfinance Business Law was enacted in Myanmar on 30th November 2011 to assist financial support for MSME development and agriculture and livestock based products in an effort of reducing poverty, especially in banking deserts areas and for the benefits of local MSMEs and for those who ran small scale manufacturing and services. According to 2026 statistics, microfinance companies are providing services to 2.59 million members from 225 townships nationwide.

The Union Minister called for collaborative efforts between government organizations and microfinance companies in a balance manner in providing financial services to the members for country’s MSME and socio-economic development in rural communities. Committee members gave supplementary discussions on the reports of current working processes by the officials.