Myanmar Microfinance Bank (Mawlamyaing Branch) The MMB Bank would like to inform you that the 13th Branch of MMB, Mawlamyaing Branch was opened on 19.9.2019 (Thursday) at Mawlamyaing, Mon State and the branch is providing banking services for all customers. Photo: Aung Htay Hlaing/The Myanmar Times The Myanmar Microfinance Business Law, which was enacted in November 2011, governs activity in the sector. Alliance for MicroFinance In Myanmar Let's Build a Better Future Together Alliance responsibly offers a wide range of client-oriented financial services and financial education to unbanked entrepreneurs, particularly women entrepreneurs, to strengthen their businesses and family welfare. • Personnel files are setup for alll staff member and properly organized with regular and timely updates. Managing Sustainability & Impact in a Rapidly Evolving Microfinance Sector. 10 Things to know about Microfinance in Myanmar. According to the Hayman Capital website, Hayman Microfinance operates 19 branches in 4 regions of Myanmar and has more than 100,000 active borrowers, 78% of whom are female and 73% of whom live in rural areas. The MFIs sector in Myanmar is made up of a different types of institutions including INGOs, NGOs, local companies, foreign companies and partnership firms. The Myanmar Microfinance Association (MMFA) is the national association gathering microfinance practitioners (registered microfinance institutions including NGOs, INGOs, foreign and local private companies as well as joint ventures) and other relevant stakeholders working to improve access to appropriate and affordable financial services for the poor and unbanked people in Myanmar. Park Royal 24thJuly, ParYangon, Myanmar – Microfinance Success Asia 2019, is the leading event for senior microfinance professionals that gathers over 150 decision makers in emerging Asia consists extensive partnerships with the industry’s leading media and relevant associations. Home; About the event. Updated: July 24, 2019 In response to growing investors’ interest in Myanmar’s finance sector amid on-going market liberalisation, key players in the microfinance industry gathered on Tuesday at an event in Yangon, the nation’s hub of commerce. Currently only 17% of the households have access to a bank account. Paris: OECD. It was our pleasure to welcome over 220 delegates. Microfinance Success Asia 2019. Learn more about Pact Global Microfinance Fund in Myanmar here. Download our Myanmar Financial Services Report. Microfinance in Myanmar is at an inflection point: A confluence of maturing incumbent players, new market entrants, technology, reform and investment are aligning to enable a modern sector. However, providers can be more efficient in their funding if there is better financial data on borrowers. July 31, 2019 by Thiha With a quarter of the Myanmar population living under the poverty line and as much as 87 percent hailing from rural areas, according to the World Bank, the microfinance sector has good potential to grow in Myanmar. Shortly after Accion and its partners invested in Dawn in March 2015, the technical assistance team sought to improve Dawn’s competitiveness and social impact. Microfinance institutions (MFIs) were serving almost 5 million clients through about $1.2 billion in outstanding loans as of end-September 2019, up from $800 million loans served to four million borrowers at the end of 2018. Hayman Capital Co., Ltd, a 100%-owned subsidiary of a Singapore-based international investment and financial group company – Hayman Capital Pte Ltd has been awarded “Fastest Growing Microfinance Company Myanmar 2020” by Global Banking & Finance Review® on 17th April 2020. We’re successful when communities can say, “We did it ourselves.” Stories and Highlights . Selected MFIs by active borrowers. Daw Phyu Yamin Myat, the general secretary of the 107-member Myanmar Microfinance Association, reportedly stated that a minimum of three months should have been allowed for MFIs to prepare for the change. MFIs working with LIFT disbursed around $1.2 billion in loans to more than 2.8 million low-income households last year, but some have seen reductions of more than 60 percent in planned disbursements this year as a result of COVID-19. Some of the biggest challenges MFIs struggle to overcome today are high operating costs, scalability and low earnings. Ongo builds micro lender customer base. To help the local MFIs service the high-interest rates required to access international financing, LIFT provides funds to subsidise the interest rate levels of these local currency loans, bringing them down to the level of the stipulated interest rate. 2 Oct 2020 Hayman Capital Co., Ltd, a 100%-owned subsidiary of a Singapore-based international investment and financial group company – Hayman Capital Pte Ltd has been awarded “Fastest Growing Microfinance Company Myanmar 2020” by Global Banking & Finance Review® on 17th April 2020. The functions of the Supervisory Committee are as follows: (a) implementing the policy and directives relating to the microfinance business laid down by the Rural Development and Poverty Reduction Working Committee; (b) … In this event, MMFA is one of the Strategic Partner. At this precipice between old and new, what are the most effective levers to foster responsible and equitable growth? Subscription options . The Central Bank of Myanmar's (CBM) move to slash unsecured lending rate from 16 to 14.5 pc, or by 1.5pc last month, have had an unintended consequence of constraining capital flow to the MFIs. SUMMARY . From April 2016 to October 2019, outstanding loans from microfinance providers grew almost seven-fold, from K271 billion to K1.869 trillion, according to figures from the Financial Regulatory Department. The two-day event showcased 120 projects worth US$3 billion (4.5 trillion kyats) in 10 states and regions and aimed to attract major investment from East … Indeed, in the five years to 2019 the microfinance segment grew by 260%, according to a July 2019 statement from the UNCDF. With a quarter of the Myanmar population living under the poverty line and as much as 87 percent hailing from rural areas, according to the World Bank, the microfinance sector has good potential to grow in Myanmar. Microfinance sector in Myanmar is booming! A booth on Rakhine State at the Invest Myanmar Summit 2019 in Naypyitaw on Jan. 28, 2019. Cordaid Investments has delivered on its promise of investing to overcome fragility. The Ministry of Planning and Finance of Myanmar reportedly decreed recently that microfinance institutions (MFIs) must start charging less for loans immediately. The event, Microfinance Success Asia 2019 in Park Royal Hotel, Yangon on 23-24 July 2019 has organized by HBZ EVENTS. New Regulations. Pact envisions a Myanmar where vibrant and diverse communities exercise their voice and build lasting solutions for a better life. According to the invitation from Pyithu Hluttaw Banks and Monetary Affairs Development Committee through Financial Regulatory Department (FRD), MMFA 'EC attends the meeting on Microfinance Law in Naypyitaw on Sep 12, 2019. 2019-07-30. For more information on the opportunities, please contact evi@myanmar-business.org. / Kyaw Myo. 7. Learn more about Pact Global Microfinance Fund in Myanmar here. Myanmar Financial services Alliance for Microfinance in Myanmar provides loans and savings products to micro business owners in the Mandalay region. the Myanmar Microfinance Supervisory Enterprise as the secretary and persons from suitable Government departments and organizations as members. The microfinance sector is a key pillar in furthering financial inclusion in Myanmar and the sector has experienced rapid growth, growing 260% over the five years to 2019 according to a July 2019 UN Capital Development statement. Since Myanmar enacted the Microfinance Law in 2011, lending by MFIs has become the biggest source of financing for the rural economy. Proximity Finance plans to support approximately 45,000 farmers with K19.8 billion ($14 million) in loans in May. An evaluation was conducted to assess the impact of FMO’s early engagement for the banking sector, local economy and financial inclusion. In its first initiative related to Photo: Zarni Phyo/The Myanmar Times. Park Royal Yangon, Myanmar. 2015. The country’s first investment forum Myanmar kicked off its first-ever international investment summit in late January in Naypyitaw. An evaluation was conducted to assess the impact of FMO’s early engagement for the banking sector, local economy and financial inclusion. full text documents on Burma/Myanmar. At end-2019, the association had 115 member microfinance institutions (out of a total of 189) serving more than 4.8 million customers across the country. The government’s COVID-19 Economic Relief Plan, announced in late April, seeks to “ensure MFIs have full access to low-cost funding” but practical plans have yet to be implemented. As of mid-2019, the MFI sector served 3.4 million members across 15 states and regions, representing around 15 million individuals. 2019. Myanmar’s microfinance providers require access to larger pools of international funds in order to expand and meet the needs of the local population. Hayman deposits surge post-voluntary license. Evaluation: FMO improved microfinance sector in Myanmar Right after the 2015 elections, FMO started to invest in Myanmar’s financial sector. By. Allliance Microfinance In Myanmar May 2019 - Present 1 year 8 months. Microfinance institutions (MFIs) were serving almost 5 million clients through about $1.2 billion in outstanding loans as of end-September 2019, up from $800 million loans served to four million borrowers at the end of 2018. With the uncertainty over the next months, MFIs have urged the authorities to speed up approvals on MFI investment and borrowing applications and changes. The financing will support Early Dawn’s expansion in Myanmar’s underserved townships and peri-urban areas. The Microfinance Acceleration pro gramme has been structured to focus on institutional strengthening. All rights reserved. Overview. T here is an increasing interest in business in Myanmar as the coun-try opens up its economy to the rest of the world. Notably, this is taking place at a time when Myanmar’s most important industry, agriculture, is in need of financing to support farmers who are struggling from a drop in crop sales. The Burmese government views fintech as crucial in tackling the last-mile problem and has also embarked on a plan to liberalise the sector for greater foreign participation. Myanmar, also known as Burma, is a small country located in Southeast Asia. MMFA’s efforts are ongoing, and it hopes to reach 80% of Myanmar’s member MFIs by 2020. Room #008 (Ground Floor), Building C1, Sa-bai Street, Sinmalite Yuzana Highway Complex, Kamayut Township, Yangon, Myanmar. The passing of the Microfinance Law in 2011 led to a rapid influx of Microfinance Institutions (MFIs) in Myanmar. • Maintain and Update a database to cover national staff leave as national staff rules and regulation. U Soe Htike Lwin, head of business operations at Proximity Finance, the microfinance arm of Yangon-based Proximity Designs, suggests that the government relax key ratio requirements, such as the debt-to-equity ratio, and temporarily eliminate required approvals on changes to conditions of loans for existing borrowings to ease the pressure on local MFIs. Yangon, Myanmar – December 18th, 2019 – Yoma Bank signed a MMK 3.485 billion funding agreement with Early Dawn Microfinance Company Limited (DAWN) to open up more credit access to small businesses across urban, peri-urban and rural areas in Myanmar. But when the US-based MFI reopened for business on May 4, it only received 19pc of expected repayments, which had impact on their cash flow. THE MICROFINANCE ACCELERATION PROGRAMMES Myanmar, Zimbabwe and Ethiopia Microfinance Institutions have a key role to play in inclusive finance by providing financial services to those that are at the bottom of the economic pyramid. Meanwhile, the government had ordered MFIs to allow delayed repayments, making the collection of repayments on time almost impossible. 7. In detail information about the conference can be seen in the website link. Statistics from the CBM revealed that deposit taking microfinance institutions (MFIs) had as much as MMK981.65bn (USD646.2mn) worth of outstanding loans as of Q318, while non-deposit taking MFIs had MMK122.13bn (USD80.2mn). Related Content. Description: "...The financial sector in Myanmar is small and underdeveloped. Microfinance firms in Myanmar struggle to stay afloat in second wave Zeyar Hein 08 Sep 2020 Daw Phyu Yamin Myat (second from left), head of the Myanmar Microfinance Association, speaks during an event in Yangon in July 2019. Scale-Up Your Impact | How MFIs Can Navigate & Thrive in the Age of Fintech Revolution. The Myanmar Microfinance Association (MMFA) obtained its permanent license as a non-profit association from the Ministry of Home Affairs in 2017. >> The first is aimed at donor countries, which in the short- to medium-term will play a key role for the development of microfinance. It is believed informal money lenders charging extortionate interest rates will become obsolete as the poor, when given the … Title: Microfinance in Myanmar Sector Assessment. Whole of Myanmar to be powered by national grid in 2030, Myanmar Tourism Bank extends loans to tourism sector, Low supply and high demand for rice leads to price hike, Magwe police low on budget for COVID-19 tests, Mandalay plans to close another five COVID-19 hospitals. Agenda; Speakers; Sponsorship & Exhibition. Myanmar to use Japanese loan for four projects, Myanmar Investment Opportunity: New Special Economic Zone (SEZ), Urgently needed building (office hall type/warehouse/single house) or land for office (1,000 sq.m.+lab 1,000 sq. Ltd. Microfinance lenders in Sierra Leone accused of 'payday loan' interest rates. The pressure to repay debt can be stressful. This presents a great opportunity for local and foreign investors in Myanmar. As of December 2019, 189 MFIs had Ks4.8trn disbursed loans and collected Ks350bn deposits, according to Financial Regulatory Department. “We know this only touches a small part of the rural community, so we encourage other MFIs to join in supporting more farming households,” said U Soe Htike Lwin. 2019-07-23. Pact Global Microfinance Fund is Myanmar’s largest microfinance institution. Once again, Cordaid Investments has acted as a pioneer in supporting growth in rural Myanmar. But restrictions meted out to prevent the spread of COVID-19 have made it difficult for MFIs to disburse loans and collect payments. Home; Browse; Search; You are here. At the same time, there has been a “liquidity crunch” internationally with banks and lenders affected, reducing cash available to where it is needed, she added. Daw Phyu Yamin Myat, the general secretary of the 107-member Myanmar Microfinance Association, reportedly stated that a minimum of three months should have been allowed for MFIs to prepare for the change. The overall level of financial inclusion remains very low, with only 30% of adults using regulated financial services. This presents a great opportunity for local and foreign investors in Myanmar. The inability to collect repayments from some borrowers has led to road bumps in liquidity and cash flows for MFIs, and this, in turn, has limited the lenders' capacity to extend financing to others. © Copyright 2021 The Myanmar Times. Development has been hindered across the country due to isolation, civil wars, ethnic conflict, military dictatorship, and natural disaster. The farmers are now experiencing difficulties in securing capital to invest in this growing season. Myanmar Financial Services Monitor / News / Microfinance Microfinance. Pact Global Microfinance Fund, World Vision), most of them were supported by UNDP in the mid-1990s. And the Acting CEO & CFO of Hayman Capital Co., Ltd has also been awarded […] The Ministry of Planning and Finance of Myanmar reportedly decreed recently that microfinance institutions (MFIs) must start charging less for loans immediately. Upfront fees – the amount that borrowers pay at the disbursement of their loan – were reduced from 3 percent to 2 percent, and Dawn began providing payment for funeral expenses, along with loan forgiveness, to the families of clients who died with a loan outstanding. Alliance for Microfinance in Myanmar provides loans and savings products to micro business owners in the Mandalay region. MMFA’s efforts are ongoing, and it hopes to reach 80% of Myanmar’s member MFIs by 2020. Under the Myanmar Financial Inclusion Roadmap for 2019 to 2023, authorities are working with the UN Capital Development Fund (UNCDF) to raise the percentage of the population covered by the financial sector to 60 percent from 48pc currently, said Willian Naing, national officer at the UNCDF, during the Microfinance Success Asia event in Yangon on Tuesday. Pact envisions a Myanmar where vibrant and diverse communities exercise their voice and build lasting solutions for a better life. Magway • Maintain a clear filling system containing all relevant HR Documentation. 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