Myanma Apex Bank

Myanma Apex Bank (Burmese: မြန်မာ့ရှေ့ဆောင်ဘဏ်; abbreviated MAB) is a private commercial bank in Burma (Myanmar). It was one of 4 private banks to commence operations in August 2010, the first new financial institutions in the country since the establishment of Innwa Bank in 1997.[2]

Myanma Apex Bank (MAB)
Native name
မြန်မာ့ရှေ့ဆောင်ဘဏ်
Private
IndustryBank
FoundedJuly 2, 2010 (2010-07-02)
FounderChit Khine
HeadquartersOttarathiri Township, ,
Myanmar (Burma)
Total assets529 billion kyat[1] (2012-13)
OwnerChit Khine
Websitewww.mabbank.com

The bank is owned by Chit Khaing, a prominent Burmese billionaire and owner of Eden Group, who is subject to European Union, British and American economic sanctions.[3][4][5]

External linksEdit

ReferencesEdit

  1. ^ "The Myanmar Times Bank Survey 2014". Myanmar Times. 15 July 2014. Retrieved 8 February 2015.
  2. ^ Cheesman, Nick; Monique Skidmore; Trevor Wilson (2012). Myanmar's Transition: Openings, Obstacles, and Opportunities. Institute of Southeast Asian Studies. p. 147.
  3. ^ "Burma Relaxes Banking Regulations". The Irrawaddy. 14 June 2010. Retrieved 29 October 2012.
  4. ^ "Commission Regulation (EU) No 411/2010". European Commission. 10 May 2010. Retrieved 29 October 2012.
  5. ^ "Burma/Myanmar COMMISSION REGULATION (EC) NO 385/2008" (PDF). Financial Sanctions Notification. HM Treasury. 2 May 2008. Archived from the original (PDF) on 9 November 2012. Retrieved 29 October 2012.