OCBC Bank signs MoUs with 10 Myanmar banks
Published on: Friday, July 03, 2015
Kuala Lumpur: OCBC Bank Thursday signed memorandum of understandings (MoUs) with 10 Myanmar banks in conjunction with the official opening of its branch in Myanmar. The MOUs are focused on collaboration in training and capability-building of cash management, trade finance and treasury solutions to support the anticipated growth in trade and foreign direct investments into Myanmar."The banks wants to jointly develop and introduce new solutions to support their corporate customers in managing their local and foreign currencies and financing requirements.
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"We would also cooperate with the banks to develop the domestic money market and interbank lending to enhance the infrastructure for payments and settlements, both which are critical for a well-functioning banking system," OCBC said in a statement. Stay up-to-date by following Daily Express’s Telegram channel.
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