Myanmar Tourism Bank waiting to open

03 September 2015
Myanmar Tourism Bank waiting to open
A group of western tourists visiting the Myanmar old colonial building (The Bombay Burma Press), Yangon. Photo: Nyein Chan Naing/EPA

The Myanmar Tourism Association says the Myanmar Tourism Bank Public Company has been registered with the Directorate of Investment and Company Administration according to a report by TRR weekly on 2 September.
However, the bank is waiting for its permit before it can open services for the tourism industry. It initially, expected to get its license last May.
The bank will provide financing to hotels, transportation and tourism companies.
The association asked the government to provide capital to allow the bank and issue loans, the report said.
According to the Directorate of Investment and Company Administration, the company had been registered, but approval for banking business was still required from the Central Bank of Myanmar.
Once it receives the green light, the first branch should open in Nay Pyi Taw followed by Mandalay and Yangon.