Banking and Finance
To develop the banking an finance industry, as at May 1997, the Central Bank of Myanmar has issued banking licenses to twenty domestic private banks to operate domestic banking services. However, not all of them were allowed to deal in foreign exchange transactions. Forty-five foreign banks have also been granted licenses to establish representative offices in Yangon.
Myanmar's Banking System comprises of 4 State-owned banks, 7 semi-government banks, and 12 private banks.
Myanmar's private banks are constrained by regulations such as: interest rate ceilings and floors, ban on long-run lending, ban on lending to cultivators, withdrawal limits, excessive collateral requirements, and branch limitations.