Sri Lankaâ€™s Commercial Bank gets Myanmar microfinance licence
ECONOMYNEXT – CBC Myanmar Microfinance Co., Ltd., a fully owned subsidiary of Sri Lanka’s Commercial Bank, has got a licence to operate in the country as a non-saving deposit organisation, a stock exchange filing said.
The license was given by the Myanmar Microfinance Supervisory Enterprise, Myanmar’s financial regulator.
Commercial Bank has had a representative office in Yangon since June 2015, with a correspondent banking network for bilateral trade transactions and for remittances.
(COLOMBO, February 19, 2018)