Tourism bank targets to open next year

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By Yadana | Photo by Nay Mone
|travel sector
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Nov 2016

Myanmar Tourism Federation (MTF) is expecting to be able to open its bank by May next year as legal process delayed the first target launch in October this year, local newspaper The Myanmar Times reported.

Quoting the federation’s chairman U Yan Win, the federation will get the license for the bank soon after the Attorney General’s Office has completed legal background checks.

To promote the tourism industry of the country by helping small and medium travel agencies, the MTF is trying to establish the bank with the capital of 120 billion kyat: a 20 billion kyat initial contribution of the 26 federation members and further 100 billion kyat contribution by others.

The chairman said it plans to open three branches at the same time in Yangon, Naypyitaw and Mandalay.

Ref: The Myanmar Times

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