ABSTRACT
Banking in Myanmar remains at an infant stage with little public trust in the Myanmar kyat as a currency of value and little faith in the soundness of the formal banking sector. The financial sector of Myanmar can far too often be found at the bottom end of most rankings, performing poorly in both regional and international comparisons. Changes in the economy and the financial sector in Myanmar have historically coincided with political change, given the close ties of the government and the banking sector. The various other sub-sectors of the financial market, namely capital markets, insurance, microfinance and finance companies, are still all at a very early stage of development. The financial sector is only in the centre of public and political interest when it is in trouble and subsequently negative effects for the real economy begin to emerge. It seems that only the necessary discourse can take place and major reforms can be undertaken.
