htettayza

All articles by htettayza

 

World Bank urges Myanmar government to implement changes in finance sector

A report (called the Observance of Standards and Codes or ROSC) from the World Bank and International Money Fund (IMF) has just been released. Among its findings were that the revisions the government has made to its statutory institutional framework for accounting and financial reporting will align the country much more with international good practice....
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Economic progress hasn’t yet reached Myanmar’s rural children

The UN Children’s Fund (UNICEF) has warned that while progress has been made in terms of economic growth in Myanmar, life is still difficult for children in remote areas. A report by the United Nations shows that the government’s reforms and efforts at reconciliation and improving the economy still leave around 2.2 million kids in...
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Political stability and the economy

In order for any burgeoning economy to find its feet and work for the country, political stability is key. And nowhere more so than in Myanmar. After so many decades of military dictatorship, the economy is new, delicate, and growing rapidly. According to EU ambassador Roland Kobia in an interview with The Myanmar Times, the...
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The Many Advantages of Mobile Banking

Technology and banking are now inextricably linked. Over the last decade, the two have combined to form a new and ever evolving way of doing business in the finance industry, whether personal, business, investing or any kind of fund management. The term FinTech (financial technology) has emerged as an umbrella word for all sorts of...
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Fintech arrives in Myanmar

With a newly burgeoning economy and an open market for the first time in 50 years, along with rapid advances in technology, Myanmar is ripe for fintech companies to offer new products and services. All around the world, technology is transforming people’s access to financial management services, whether for personal use or for investment and...
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Will Myanmar’s economy mirror Vietnam’s growth?

Myanmar undoubtedly faces challenges when it comes to opening up its economy in order to flourish in the future. According to a leading British diplomat, Myanmar has the potential to grow its economy by as much as 10 per cent, effectively following in the footsteps of Vietnam’s economic growth. In comments made at Bloomberg’s conference...
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Myanmar Set to Modernise Banking System

The banking system in Myanmar is key to modernising the financial system of the nation, in the face of its rapid economic growth. An audit is soon to underway of state owned banks in Myanmar – the first of its kind for several decades. It’s hoped that the results of this comprehensive audit will clarify...
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Myanmar’s Foreign Trade Rises in Latest Fiscal Year

Myanmar’s government is currently focusing on facilitating greater foreign involvement with the nation’s economy, to supply small businesses with the funds required to foster growth. Figures show that these efforts are paying dividends, as Myanmar’s foreign trade rose during the latest fiscal year....
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Myanmar Finance Plan Receives World Bank Backing

Myanmar is currently developing its nascent finance sector, to boost national economic growth. Global financial body the World Bank recently signalled its support for these efforts, by announcing it will provide a loan to bankroll the Myanmar Financial Development Project. Htet Tayza comments....
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Singapore and UN to Promote ASEAN Financial Inclusion

Singapore has the most developed finance sector, especially in the area of financial technology (fintech), of all the Association of South-East Asian Nation (ASEAN) territories. The city-state is, therefore, well-placed to promote sorely-needed financial inclusion across the region, which its central bank, the Monetary Authority of Singapore (MAS), has just teamed up with the UN...
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Singapore and London Named Top Global Fintech Sectors

We are seeing the gradual rise of a robust financial technology (fintech) sector around the world, with financial hubs such as London, New York and Singapore fast-developing thriving fintech industries. London and Singapore were recently named the world’s top fintech hubs.  Htet Tayza comments....
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Myanmar Becomes Newest Member of SASEC

Myanmar has just become the newest member of the South Asia Sub-regional Economic Cooperation (SASEC) partnership, which could create opportunities for its business, potentially lifting the nation’s economy to new heights. Htet Tayza explains the significance of this development for Myanmar....
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South-East Asian Fintech Deals Break Records in 2016

South-East Asia, which includes Asia’s most prominent financial hub, Singapore, is fast-developing a thriving financial technology (fintech) market. Htet Tayza comments on fresh figures which indicate that the number of fintech deals executed within this region broke records in 2016....
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Htet Tayza Talks Fintech in Myanmar With Bloomberg

As Managing Director of Myanmar’s Asia Green Development Bank (AGD), Htet Tayza recently discussed some of the key issues facing Myanmar’s financial sector with Bloomberg. Htet argued that by harnessing the potential of financial technology (fintech), Myanmar could promote financial inclusion among its large, unbanked population, something which AGD is already aiming to achieve....
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Group Launched to Promote Global Fintech Standardisation

It is key that firms operating in the booming worldwide financial technology (fintech) space encounter consistency between national markets, to minimise costs so they can instead focus on growing revenue. New reports show that we are one step closer to achieving this goal, as a group has been launched to promote standardisation throughout the global...
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ASEAN Exchanges to Boost Regional Capital Markets

The Association of South East Asian Nations (ASEAN), must build strong capital markets, in order to thrive economically. The leaders of the ASEAN Exchanges’ member-bourses have recently spoken out, to outline how they will continue and expand upon existing initiatives, to achieve this critical goal. ...
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Co-Working Becoming More Popular in ASEAN

The rise of digital technologies, such as high speed Wi-Fi, is changing employee and company attitudes to working best practises worldwide. This has facilitated the onset of the co-working trend, which new reports indicate is quickly catching on in the Association of South-East Asian Nations (ASEAN)....
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Myanmar Central Bank Proposes Major Change

Myanmar is developing up a robust, outward-facing banking sector, to ensure that businesses can secure the capital needed to fuel national economic growth. It is crucial, for example, that banks can supply trade financing for Myanmar’s importers and exporters, so they can move goods across global borders. The Director of Myanmar’s Central Bank, U Win...
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Myanmar Banks to Adopt Standard Chip Card

Myanmar’s financial sector is currently working towards standardisation, in order to supply consumers with the comprehensive financial products required to promote financial inclusion. As part of these efforts, national and global industry bodies The Myanmar Payment Union (MPU) and UnionPay International (UPI) recently agreed to roll out the UnionPay chip card standard across the nation....
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Myanmar and Thailand Strike Major Deal

Fellow South-East Asian country Thailand is one of Myanmar’s most important trading partners. New reports suggest that this relationship is set to strengthen over the next few years, as Myanmar and Thailand recently struck a major deal to boost their respective private sectors. Htet Tayza comments....
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International Credit Cards Launched in Myanmar

Myanmar’s largest private bank has partnered with a global payments firm, to launch credit cards which can be used by consumers in the South-East Asian nation globally. Htet Tayza comments....
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Asia Receives Half of Global Fintech Investment

Asia is rapidly developing a robust financial technology (fintech) sector. New evidence suggests that Asia now receives half of global fintech investment, largely due to the booming Chinese market....
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Blockchain Could Save Financial Services Over £100bn

Blockchain is being increasingly adopted by financial institutions, as it allows these companies to safeguard their operations from cyber-crime. Htet Tayza comments on new figures which suggest that the adoption of blockchain could save global financial services over £100bn in the next three years....
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Project To Raise Thai Investment In Myanmar

The Thai Board of Investment (BOI) is increasingly focusing its efforts on the Association of South-East Asian Nations (ASEAN). Reports show that over the next few years, the body will open overseas offices in the ASEAN cities of Yangon, Hanoi and Jakarta, to capitalise on the region’s economic potential....
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The Future Still Looks Bright For ASEAN Economic Community

The Association of South-East Asian Nations (ASEAN) is moving ever-closer to economic integration, in order to compete with the economic powerhouses of the world, like the EU and the US. Last year, the bloc formed the ASEAN Economic Community (AEC), to help achieve this goal. On the eve of its one year anniversary, experts said...
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Data Management Deemed Vital To ASEAN Economies

The findings of a new report suggest that the Association of South-East Asian Nations’ (ASEAN) member states need to implement pro-growth digital data management policies to promote digital economic expansion, as well as the growth of the ASEAN Economic Community. Htet Tayza comments....
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Fintechs Turning Attention To Myanmar’s Unbanked 

The global financial technology (fintech) sector is expanding at a rapid pace, increasingly changing how people worldwide access critical financial services. Now many fintech firms are now moving into Myanmar, spotting an opportunity to supply mobile payment services to its unbanked citizens....
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Myanmar’s Economy To Eventually Surpass Singapore’s?

Myanmar is one of South-East Asia’s fastest growing economies. In contrast, Singapore is the region’s economic powerhouse. However, Myanmar’s unofficial leader, State Counsellor Aung San Suu Kyi, recently said that her country’s economy will surpass Singapore’s in 20 years’ time....
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Digital Payments Power APAC Fintech Growth

New data recently released by Frost and Sullivan, a global consulting and market research firm, indicates that digital payments are driving the growth the Asia-Pacific’s (APAC) financial technology (fintech) market. Htet Tayza comments....
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Singapore to Develop Blockchain Initiative For Inter-Bank Payments

Singapore’s central bank, the Monetary Authority of Singapore (MAS), recently announced that it will develop a pilot project, to use blockchain technology to make inter-bank payments more secure....
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IFC To Help Myanmar With Secured-Transactions Network

In a statement, World Bank Group member the IFC has announced that it will help Myanmar develop a secured-transactions network. This project is designed to make it easier for the nation’s micro, small and medium sized enterprises (MSMEs) to access finance, by providing movable assets as collateral. ...
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Myanmar To Set Up Blockchain-Based Stock Exchange

Officially opened in December 2015, the Yangon Stock Exchange (YSX) started trading in 2016, increasing foreign activity in Myanmar’s economy. Htet Tayza comments on reports, which suggest that a new project is looking to use blockchain technologies to make the YSX more secure in future....
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IMF says Myanmar is making progress

The International Monetary Fund is happy with the progress Myanmar is making in regards to economic growth, as positive statements from the organisation’s officials imply. Htet Tayza comments on the positive development covered by Mizzima. ...
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How can Asian financial institutions rise to the challenge of Fintech?

Nearly 20% of ‘traditional financial services’ business is threatened by the rise of Fintech, according to data released by the International Data Corporation (IDC) at the annual Philippines Financial Services Summit. Htet Tayza comments on the findings....
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Myanmar Investment Law To Come Into Force Soon

New reports confirm that Myanmar’s long-awaited Investment Law will soon come into force. Htet Tayza asks how the enactment of this legislation could benefit Myanmar’s economy going forward....
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Myanmar Proves Popular With Singaporean Firms

Myanmar’s government has made it a priority to increase foreign investment flows into the South-East Asian nation in recent years. New reports suggest that this strategy is proving effective, as Myanmar is becoming a popular investment destination for Singaporean firms. Htet Tayza comments....
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Myanmar To Open Insurance Sector Up To Foreign Firms

Htet Tayza comments on new reports, which suggest that Myanmar’s government is planning to open up the South-East Asian country’s insurance sector to foreign companies in 2017....
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Myanmar To Establish Tourism Banks

Htet Tayza comments on new reports, which suggest that Myanmar is planning to establish ‘tourism banks,’ which are designed to provide financial support to local businesses across the country.  ...
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Mobile Usage Fuels Card Fraud In ASEAN

Data suggests that half of the Association of South-East Asian Nations’ (ASEAN) population remains unbanked. But global and local are now developing innovative financial technologies (fintech) which allow unbanked ASEAN citizens to access to vital financial services via smartphone. One downside of this trend, reports suggest, is that it is fuelling card fraud in ASEAN...
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ASEAN Outperforming Other Developing Economies

The Association of South-East Asian Nations (ASEAN), a regional organisation of ten nations which strives to promote development, holds incredible economic potential. New figures have shown Htet Tayza that ASEAN members are currently outperforming other developing nations economically....
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Singapore Launches Drive Towards Cashless Society

Htet Tayza comments on a recent announcement made by Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS) the city state’s central bank. Menon revealed that Singapore is planning to create a cashless economy, by incentivising banks to take digital payments. Regional fintech hub  Singapore is becoming an increasingly prominent regional financial...
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Embracing Connectivity Could Benefit ASEAN SMEs

Singaporean Trade and Industry Minister S. Iswaran delivered a powerful speech at the recently held 9th ASEAN (Association of South East Asian Nations) & Asia Forum. During this speech, he advised small to medium-sized enterprises (SMEs) in the region to “embrace connectivity in order to thrive.” Aiding SME growth  Reporting on this story, regional news...
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Study Sheds Light on ASEAN SME Cloud Adoption

A new study has shed light on the adoption of cloud services among small to medium-sized enterprises (SMEs) operating within the Association of South East Asian Nations (ASEAN). Htet Tayza comments. Adopting cloud services  The research was commissioned by IT security firm Barracuda Networks and carried out by Data & Storage ASEAN (DSA), a regional...
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New Fintech Could Enhance Financial Transparency in ASEAN

A new financial technology (fintech) developed by German digital services firm Software AG, reports suggest, could enhance financial transparency across the Association of South-East Asian Nations (ASEAN). Htet Tayza comments. Innovative platform  The technology in question, regional finance publication Deal Street Asia writes, is Software AG’s digital business platform. It possesses the capabilities that ASEAN...
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Myanmar Consumers Gradually Embrace Credit Cards

Myanmar’s population is accustomed to paying for transactions with cash. However, experts suggest that consumers living in the South-East Asian nation are gradually coming to embrace credit cards. Htet Tayza comments on what this means for Myanmar going forward. Making the switch   An article from the Myanmar Times sheds more light on this issue. U...
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ASEAN Reaches Out to Taiwanese Investors

Htet Tayza comments on reports which indicate that representatives of the Association of South-East Asian Nations (ASEAN), recently reached out to offer new opportunities to Taiwanese investors. Investment partnership The first ever Taiwan-ASEAN Strategic Investment Partnership Forum was recently held in the Taiwanese capital of Taipei. During the event, representatives from Singapore Malaysia, Vietnam the...
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IBM to Establish Its First R&D Centre in Singapore

Global technology firm IBM recently announced that it will open its first blockchain research and development (R&D) centre in Singapore. Htet Tayza explores what this development could mean for this incredibly important financial technology (fintech). Fintech hub  In its most recent Global Financial Centres Index, think tank X/Yen Group recently appointed Singapore Asia’s most prominent...
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Singapore to Host First Global Blockchain Conference

Htet Tayza comments on new reports, which suggest that the first global blockchain conference will be held in Singapore next year. Blockcon 2017  This Blockcon 2017 conference, which will be held between the 28th and 29th March, will be organised by UBM Exhibition Singapore Pte Ltd and The Singapore Fintech Consortium Pte Ltd. It will...
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Fintech and Higher Saving Could Boost Asian Economy

Tan Sri Andrew Sheng, a Trustee at the Malaysia-based Khazanah Research Institute, recently suggested that new financial technology (fintech) and higher savings rates could boost Asia’s economy. Htet Tayza comments. Driving economic growth  The crux of Sheng’s argument was that fintech provides people with faster access to funds. He continued by suggesting that this is...
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ADB to Double Financial Support to Myanmar

Htet Tayza discusses recent reports, which have revealed that global development agency the Asian Development Bank (ADB) will double the financial support it provides to Myanmar. Doubling financial support  Following a recent visit to Myanmar, ADB President Takehiko Nakao announced that the organisation will increase its funding for the country from US$150m to US$350m from 2017....
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