Yangon, Myanmar, June 2, 2014
—IFC, a member of the World Bank Group, is helping Myanmar’s banks adopt good risk-management practices to help them grow sustainably, expand financing to businesses and contribute to the country’s economic development.
About 40 senior executives from leading local banks and the Central Bank of Myanmar are attending IFC’s Banking Risk Management Training Program from June 2 to 4 in Yangon. As Myanmar gradually opened up over the past three years, it has become increasingly important for banks to improve their risk management while the banking sector rapidly expands.
“Local banks are now seeing more opportunities in the sector,” said Kim Chawsu, Deputy Managing Director from Kanbawza Bank. “This timely initiative by IFC will play a vital role in increasing the knowledge and awareness of sound risk-management practices that should be adopted to promote sustainability and resilience in Myanmar banks."
The training program introduces participants to global best practices in integrated risk-management structures and processes, covering various types of risks including credit, operational, market and liquidity. IFC risk specialists also talk about the implications from the global financial crisis on risk management and how IFC can work with banks to mitigate risks and develop financial stability.
“The program helps improve our skills in dealing with operational risks and asset liability management as our bank continues to expand and grow,” said Kyi Kyi Than, Managing Director of Myanmar Oriental Bank Ltd.
The training – delivered in partnership with the U.K. Department for International Development – is part of IFC’s Access to Finance Program for Myanmar, which aims to build local banks’ capacity and implement best practices in emerging markets. IFC, together with the World Bank, is supporting reforms and investments in Myanmar to strengthen the private sector and create jobs to reduce poverty and boost shared prosperity.
“Ensuring sustainable access to finance is critical to private sector growth and the healthy development of banks,” said Vikram Kumar, IFC’s Resident Representative in Myanmar. “Banks in Myanmar can draw on IFC’s rich global experience in financial risk management to improve their profitability and performance.”
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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