The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.

Where does Myanmar’s fintech industry stand after its first decade?

A new report by the Bank of Ghana (BoG) has indicated banks have been able to withstand the COVID-19 pandemic.

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.

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.

The temporary suspension of microfinance activities aligns with government efforts to prevent the spread of COVID-19 through mass gatherings and close contact.

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. 

The Bank of Ghana has announced a raft of measures aimed to contain the economic impact of the COVID-19 on the economy and to enhance access to credit.

The BoG will continue to assess the possible impact of the pandemic on the domestic economy and is taking the necessary steps to mitigate its impact, to ensure financial and economic stability.