Malayan Banking(Maybank) has commenced branch operations in Myanmar, becoming the first and only Malaysian bank to open a branch in that country. The bank, Southeast Asia’s fourth largest bank, is one of the foreign banks along with Japan’s Bank of Tokyo Mitsubishi UFJ and Singapore’s Oversea-Chinese Banking Corporation to have gained a presence in Myanmar. The Myanmar government had in October granted nine foreign banks coveted licences to operate on a limited basis, its biggest move to date to bring in much needed foreign capital to a fast-growing economy.
