Singapore-based United Overseas Bank (UOB) conducted a seminar on opportunities for Myanmar’s financial and treasury market development for more than 45 of Myanmar’s senior corporate and central bankers as part of building stronger financial sector ties between Singapore and Myanmar.
In the seminar, industry experts from UOB and the Singapore Management University shared their expertise and experience of navigating the global financial market and updated bankers on best practices and real-life case studies on how capital and treasury markets could fuel the growth and development of Myanmar’s financial sector.
Ian Wong, managing director and head, International, UOB Group, said, “An important step in the continuing development of Myanmar’s financial sector is to ascertain the best way to tap into the international financial market.
“To help facilitate this, we wanted to share the experience UOB had gained over many years across Asia and beyond and to bring in independent experts to share their insights of what is possible for Myanmar.”
Dr Sein Maung, chairman, First Private Bank and vice president of Myanmar Banks Association, said that Myanmar’s financial sector must be developed in a progressive and calibrated manner.
He said that he welcomed UOB’s practical trade finance training sessions for Myanmar’s banking professionals as these knowledge-sharing initiatives would lay the foundation for the country to develop a strong and resilient banking sector.
He also suggested more practice-oriented courses, especially on the job training for international trade services.
In 1994, UOB was one of the first banks to set up a representative office in Myanmar and since then has established a correspondent banking network with most of Myanmar’s local banks.
