OCBC, UOB and 7 others get Myanmar banking permits

OCBC Bank and United Overseas Bank (UOB) have been granted a foreign bank licence to operate in Myanmar.

They are among the nine foreign banks that received preliminary approval on Wednesday from the Central Bank of Myanmar to prepare for the start of banking operations there.

The others are: Australia and New Zealand Banking Group, Bangkok Bank, Industrial and Commercial Bank of China, Malayan Banking Berhad, and Japan's three largest banks - Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank and Sumitomo Mitsui Banking Corporation.