Framing the Issues Myanmar cover

Framing the Issues: Financial-Sector Development and Expanding Access to Credit in Myanmar

Nov 01, 2017

On July 26, 2017, the Myanmar Development Institute partnered with the Milken Institute Center for Financial Markets to host a strategic roundtable in Yangon. As part of the roundtable, financial-market regulators, officials from domestic commercial banks, financial-sector experts from development partners working in Myanmar, and academic and practitioner experts discussed ways to develop Myanmar’s financial markets.

The participants in the discussion agreed that Myanmar needs a specific roadmap/master plan for market development that examines the country’s financial markets from a holistic, economy-wide perspective and assesses the credit needs of private-sector businesses.

“Without a plan, we will only be working on a piecemeal basis, and we will end up creating issues which don’t exist today,” said one participant.

Key takeaways:

  • A roadmap should be focused on establishing strong institutions.
  • Banks and other market participants need a regulatory roadmap as part of a broader financial-sector development plan.
  • The roadmap needs to address the fact that the financial ecosystem in Myanmar is currently compartmentalized and limited.
  • The program would need to work through a genuine consultative process between industry and government