Yangon - Under the patronage of Ministry of Commerce, and in collaboration with the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), Sphere Conferences yesterday launched the inaugural Myanmar Banking and Finance conference at the Traders Hotel, Yangon.
This is the third trade event held in Myanmar that is organised by Sphere Conferences, following the earlier successes of the Myanmar Hospitality and Tourism Conference and the Myanmar Urban Development Conference.
Sphere Conferences is the conference arm of Singapore Press Holdings, the country's leading multimedia group which publishes newspapers such as The Straits Times, its flagship English-language newspaper and one of the region's oldest and most established newspapers.
More than 250 delegates from 10 countries were present to learn about the country's banking and financial reforms and its proposed foreign exchange regulations. These include renowned banks, financial institutions, regulatory authorities, system integrators, professional consultants and technology service providers.
The Guests-of-Honour at the conference were Dr Maung Maung Thein, Deputy Minister for Finance, Republic of the Union of Myanmar and Dr Maung Aung, Advisor to Union Minister for Commerce, Republic of the Union of Myanmar.
Some of the organisations represented at the event included the Myanmar Investment Commission, Myanmar Foreign Trade Bank, Myanmar Investment and Commercial Bank, 2C2P, ANZ bank, CB Bank, CIMB Bank, First Private Bank, Glory Global Solutions, Gunnebo, Kanbawza Bank, Kasikornbank, Maybank, Mizuho Corporate Bank, Myanmar Payment Union, Pacific Tech, Sumitomo Mitsui Banking Corporation, Secur-Card Solutions, Southtech, Yoma Bank, and Wincor Nixdorf.
Daw Naw Eh Hpaw, Deputy Director General, the Central Bank of Myanmar delivered the keynote presentation on the financial system reforms in Myanmar, with insights into the draft foreign exchange regulations. This was followed by a panel discussion where speakers from banks in the Asia Pacific region shared their hopes and aspirations on the opening up of Myanmar's banking sector.
The second day of the conference will focus on two topics that are expected to significantly impact the Myanmar banking sector - Retail and Transaction Banking and Payment Cards. More than 30 speakers will be on hand to share their expert insights on issues such as security infrastructure, banking architecture for cross-border transactions, ATM network infrastructure, standards and regulations.
Prior to the conference, H.E U Win Myint, Minister for Commerce, Republic of the Union of Myanmar said: "We are undertaking a series of financial reform measures, such as the new foreign direct investment regulations, so as to modernise the financial sector. These are landmark developments that place Myanmar at the forefront of change and progress and the inaugural Myanmar Banking and Finance Conference is the first step in helping us achieve these goals."
Mr. Chua Wee Phong, Chairman of Sphere Conferences, said: "The recent relaxation of regulations and controls is a positive indication that the Myanmar banking sector is poised for transformation. To promote international business transactions, Myanmar has seen some major developments over the last few months. These include the creation of the Myanmar Payment Union Card and over-the-counter foreign exchange services. International brands such as MasterCard and Visa have also established a presence in the country. This is a timely conference and we are pleased to bring together key players from the international banking community to come speak and share their knowledge and best practices. With insightful sharing sessions and engaging discussions at this conference, we can help to promote vibrant financial markets in Myanmar."
For more information on the Myanmar Banking and Finance Conference 2013, please contact Ms Nann Thi Thi Tun at telephone: (65) 6848-5371 or email firstname.lastname@example.org.