News

Agricultural sector and SMEs to receive private bank loans

The Central Bank of Myanmar will make it compulsory for local private banks to grant a minimum percentage of their loans to the agricultural sector and the small and medium-sized enterprises sector, Central Bank director general U Win Thaw told the Myanmar Times. During a meeting held by ...

Tax exemption on interest income questioned

The Ministry of Planning and Finance has issued a statement on February 19 that income tax will not be levied on interest from bank savings and deposits. The statement means that tax on interest from bank deposits will be exempted in the coming 2017-18 fiscal ...

Central bank turns the spotlight on loan favouritism

The Central Bank of Myanmar has accused private banks of granting loans to individuals connected with bank directors. But some businessmen disagree with CB that the banks are self-serving. The Central Bank is investigating the activities of private banks, Director General U Win Thaw told ...

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