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Myanma Investment and Commercial Bank

From Wikipedia, the free encyclopedia
Myanma state-owned bank
Myanma Investment and Commercial Bank
Native name
မြန်မာ့ရင်းနှီးမြှုပ်နှံမှုနှင့် ကူးသန်းရောင်းဝယ်ရေးဘဏ်
IndustryBanking
FoundedJuly 4, 1990 (1990-07-04)
HeadquartersNo. 170-176, Bo Aung Kyaw Street,Botataung Township,,
Websitewww.micb.gov.mm

TheMyanma Investment and Commercial Bank (Burmese:မြန်မာ့ရင်းနှီးမြှုပ်နှံမှုနှင့် ကူးသန်းရောင်းဝယ်ရေးဘဏ်; abbreviatedMICB) is a state-owned bank.[1] MICB has branches mainly in Yangon and Mandalay and focuses primarily on business and domestic currency-denominated lending 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 fromMyanma Economic Bank.[1]

The Myanmar entities that were slapped with sanctions by theUS Treasury Department on June 21, 2023 included the Ministry of Defense, the Myanmar Foreign Trade Bank, and the Myanmar Investment and Commerce Bank.[3]

References

[edit]
  1. ^ab"Myanma Foreign Trade Bank".Ministry of Finance and Revenue. 2015. Retrieved1 July 2015.
  2. ^abcNehru, Vikram (April 2015)."Developing Myanmar's Finance Sector to Support Rapid, Inclusive, and Sustainable Economic Growth"(PDF).Asian Development Bank. Retrieved1 July 2015.
  3. ^"နိုင်ငံပိုင်ဘဏ်နှစ်ခုနှင့် ကာကွယ်ရေးဌာနကို အမေရိကန် ပိတ်ဆို့ ("US sanctions two state-owned banks and the Ministry of Defense")".Myanmar Now. 2023-06-21. Retrieved2025-07-06.
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