THE Myanma Tourism Bank, set up to promote the tourism
sector and provide financial services to tourism businesses, was inaugurated
yesterday at a ceremony in front of the bank near Hotel Novotel on Pyay Road.
The initial capital of the bank is estimated at K22
billion, and five per cent of its annual profits will be donated for the
development of Myanmar’s tourism sector.
The inauguration ceremony was attended by Union Minister
for Hotels and Tourism U Ohn Maung, Union Minister for Ethnic Affairs Nai Thet
Lwin, Yangon Region Chief Minister U Phyo Min Thein, deputy speaker of Yangon
Region U Lin Naing Myint, MTB governor U Yan Win, and officials from the
Myanmar Tourism Federation and associated organizations.
Union Minister U Ohn Maung said he was delighted with the
setting up of the tourism bank, which can help contribute to the development of
Myanmar’s tourism sector. “The Ministry is working with the Myanmar Tourism
Federation and its 11 associated organizations to promote tourism. The bank is
expected to contribute to the Ministry’s efforts towards the creation of new
tourist destinations and capacity-building of human resources,” he said.
Afterwards, U Phyo Min Thein said the bank will provide
banking and financial services, and offer products such as e-Payments. “The
bank will also offer travel loans. It is preparing payment solutions to support
the tourism sector’s needs. In addition to the tourism sector, it will offer
banking services to other sectors,” he said. The MTB is the first tourism bank
in Myanmar. The bank is planning to open branches in Nay Pyi Taw, Mandalay
city, and the Muse and Myawady border gates. It is slated to open ten branches
within a year.
Myint Maung Soe/ San Kyaw Oo (IPRD)
(Translated by Ei Myat Mon)
Photos: MNA
Ref; The Global New Light of Myanmar
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