Myanmar Microfinance Bank (MMB) offering half the current interest rate for small loans will be launched some time this year, according to the banking communities.
A private bank, MMB will be targeting to
low-income households. Interest rate will be less than commercial banks
and financing plan will be suitable for low-income borrowers.
The microfinance bank has been permitted
to run by the Central Bank of Myanmar and the government. It will offer
regular banking services as well," the managing director Pe Myint from
the Co-operative Bank (CB) said.
"For the establishment of MMB, the
shares are being sold at 100,000 per shares. Bankers are buying the
shares. Our bank (CB) is also buying the shares," he added.
Three new banks are preparing to launch
in this month. However, the Central Bank is not announced any details
yet. The central bank continues working on money sector to be firmed. It
is also trying to legalize its own independent law.
source: Eleven Myanmar
No comments:
Post a Comment