Acleda Applies To Open Banks In Burma
Acleda Bank has filed an application to start banking operations in Burma with the central bank and is on track to open its first microfinance branch in the country by January, Acleda President In Channy said yesterday. Mr. Channy said the bank submitted its application for an operating license on June 13, the day after Acleda’s board of directors held its first-ever meeting in the country’s commercial capital and largest city, Rangoon. Approval of the bank’s application is expected in the next six months. “Then we can start providing our services,” Mr. Channy said. “I don’t think there will be any obstacles.”…
