Articles
6
Feb
2019
CBM allows foreign investments in Myanmar banks
Since the implementation of the new Myanmar Companies Law (“MCL”) in August, the so-called 35% rule has been subject to interpretation by each government Ministry. Slowly, we have been seeing updates from Ministries on whether they will allow 35% foreign shareholding in various sectors. On 29 January 2019, the Central Bank of Myanmar (“CBM”) issued […]
31
Jan
2019
Bank Fees Now Included in Interest Cap (VDB Loi Insights)
Following the recent directive of the Central Bank of Myanmar (the “CBM”), , interest rate caps of 13% and 16% shall apply for secured loans and unsecured loans,. The Directive provides that “the maximum interest rate … includes all other fees collectible in lump sum or in partial payments such as guarantee fees, management fees…
9
Nov
2018
Client Alert: Foreign Bank Branches Permitted to Extend Banking Services to Local Companies in Myanmar
In an exciting development, the Central Bank of Myanmar (the “CBM”) on 8 November 2018 issued Directive No. 6/2018 (the “Directive”) which grants permission to foreign bank branches to extend banking services to local companies wholly owned by Myanmar nationals. As the reader may already be aware, there are 13 foreign bank branches operating in […]
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