Central bank says it is still on track to grant licences to foreign banks this month

Between five and 10 licences will be granted to foreign banks to operate in Myanmar by the end of this month, Dr Set Aung, deputy governor of Central Bank of Myanmar, said on September 14, denying speculation that the bank was delaying the announcement.

“We said before that the announcement will be made in the third quarter of this year so the announcement will take place by the end of this month,” he said. He said rumours that the central bank was either delaying the announcement or scrapping the plan were unfounded as the central bank would make the announcement during the timeframe it said it would.

Continues here:- http://www.elevenmyanmar.com/index.php?option=com_content&view=article&id=7568:central-bank-says-it-is-still-on-track-to-grant-licences-to-foreign-banks-this-month&catid=33:business&Itemid=356