Master Card can be used at ATMs of Kanbawza Bank (KBZ), one of Myanmar’s largest banks, starting from May 28, Zaw Lin Htut, senior general manager from the bank said.
“Master Card holders can withdraw cash
from the ATMs now. Our banks allow taking out of a maximum of 1 million
kyats at one time. Using Master cards will bring benefits for our
national development,” he added.
The transaction fee is 5000 kyats, which is about the same as the international rate, he said.
Antonio Sebastain T.Corro, Country Manager (Thailand and Myanmar) of Master Card Asia Pacific expressed his thanks to the KBZ Bank for its collaboration in the services of Master Card.
“I am grateful to the KBZ Bank for its
cooperation. I’m very proud to make an official announcement of Master
card introduction ahead of the visits of prime ministers of foreign
countries, CEOs and businessmen to Myanmar to attend the World Economic
Forum, due to be held in Nay Pyi Taw next month,” he said.
There are about 1.7 billion Master Card users from 217 countries and nearly 32 million traders who accept Master cards.
The KBZ bank is one of five major private commercial banks in Myanmar and it has already opened over 100 branch offices across the country. It is providing both local and international banking services, including TT and LC (Telegraph Transfer and Letter of Credit).
At present, US-based Visa, Master card, China Union Pay and Japan Credit Bureau are the forerunners operating in Myanmar.
source: Eleven Myanmar
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