ANZ wins final approvals to open in Myanmar

ANZ has officially opened a representative office in Myanmar, which is emerging from years of military dictatorship, after receiving the government’s final approval.

The move comes as financial institutions from around the world are studying how they can tap into the development of Myanmar’s nascent financial markets.

Some have already expressed interest in setting up or have already taken steps to provide financial services to the Southeast Asian country’s growing population of more than 60 million, such as Mastercard, Standard Chartered and Japanese and Korean firms.

However, financial institutions still face considerable hurdles to doing business in Myanmar, such as the country’s patchy infrastructure...