Myanmar is planning to launch its first Data Center to set up a very first stock exchange in the country with technical assistance from Japan, according to the sources from the Central Bank of Myanmar.
The Data Center is a kind of Modular
Data Center and will be constructed with the aid of Daiwa Institute of
Research Ltd. (DIR). A Memorandum of Understanding has been signed on
May 31.
The data centre's construction is aimed
at modernization on Myanmar's financial information technology. The
center will become operational in January next year, according to the
DIR.
DIR has been working in Myanmar to
establish a capital market since 1990s. Myanmar Economic Bank and the
DIR co-founded the Myanmar Securities Exchange Centre Co., Ltd (MSEC) in
June, 1996. In 2010, the DIR had a representative status with Central
Bank of Myanmar to make a business in treasury bonds.
Moreover Central Bank of Myanmar, Tokyo
Stock Exchange and DIR had an agreement to co-operate to establish stock
exchange centers which will be taken shape in Yangon and Mandalay in
2015.
The DIR is contributing to modernize
financial IT system and Tokyo Stock Exchange is helping technical issues
and is sharing experiences to run the Data Center with international
standards.
The DIR announced that it will be
committed to making a continued contribution to the sustainable economic
growth in Myanmar by providing advanced solutions with Japanese-level
quality.
Myanmar is drawing rules and regulations
concerned with setting up the establishment of a stock exchange. The
intermediary and fund management companies will be allowed, according to
the sources from Central Bank of Myanmar.
source: Eleven Myanmar
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