Telenor to Divest Wave Money, Exit Myanmar Mobile Banking
The sale of the stake for $53 million in cash values Wave Money at $104 million and is set to be finalized in the coming days, according to people close to the deal.
Central Bank of Myanmar Issues Remittance Licenses to More Local Companies
City Express Myanmar and Money King were granted remittance licenses on 5 January.
Bank-Genie Partners With Cufa to Roll-Out Digital Banking for Myanmar Credit Unions
The program will enable credit unions to facilitate loan origination, approvals, disbursements, and deposits digitally.
Microfinance Firms in Myanmar Struggle to Stay Afloat in Second Wave
Government travel restrictions and orders to defer repayments and lower interest rates on loans due to COVID-19 have reduced the ability of Myanmar’s microfinance companies to help rural people who desperately need capital.
COVID-19 Is Boosting Fintech and Mobile Money in Myanmar, but What’s Next?
Where does Myanmar’s fintech industry stand after its first decade?
Lift and Department of Social Welfare Announce $9 Million in COVID-19 Cash Support
Myanmar Ministry of Social Welfare, Relief and Resettlement, Department of Social Welfare and Livelihoods and Food Security Fund LIFT have announced funding of $9 million in COVID-19 cash support to mothers, pregnant women and social pension beneficiaries.
Yoma Strategic's Mobile Payments Joint Venture in Myanmar Ties up With Alipay Operator
The partnership will allow Wave Money to leverage Ant Group's experience in building mobile payment platforms to enhance its digital competence, capabilities, user experience and service offerings.
Myanmar Govt Extends Temporary Suspension of Microfinance Operations to May 15
The temporary suspension of microfinance activities aligns with government efforts to prevent the spread of COVID-19 through mass gatherings and close contact.
Thailand-Based Thitikorn Buying Microfinance Institution Myanmar Financial International Limited (MFIL)
Thai consumer finance firm Thitikorn recently secured agreement from the shareholders of Myanmar Financial International Limited (MFIL), a microfinance provider in Myanmar, to buy the company for no less than two times its audited book value.