Myanma Investment and Commercial Bank explained

Myanma Investment and Commercial Bank
Native Name Lang:my
Industry:Banking
Founders:-->
Hq Location:No. 170-176, Bo Aung Kyaw Street, Botataung Township
Hq Location City:Yangon
Hq Location Country:Myanmar
Areas Served:-->
Owners:-->

The Myanma Investment and Commercial Bank (Burmese: မြန်မာ့ရင်းနှီးမြှုပ်နှံမှုနှင့် ကူးသန်းရောင်းဝယ်ရေးဘဏ်; abbreviated MICB) is a state-owned bank.[1] MICB has branches mainly in Yangon and Mandalay and focuses primarily on business and domestic currency-denominated loans for commercial, investment, and development activities.[2] MFTB also manages Burma's official foreign currency reserves.[2] MICB also acts as a banking intermediary for foreign investment activities.[2]

The bank was established under the Financial Institutions of Myanmar Law of 1990, which separated the bank from Myanma Economic Bank.[1]

Notes and References

  1. Web site: Myanma Foreign Trade Bank. 2015. Ministry of Finance and Revenue. 1 July 2015.
  2. Web site: Developing Myanmar’s Finance Sector to Support Rapid, Inclusive, and Sustainable Economic Growth . Nehru. Vikram. April 2015. Asian Development Bank. 1 July 2015.