PROJECT DESCRIPTION

This project is situated within the „Myanmar-German Banking and Financial Sector Development Program “; a program designed to make the banking sector of Myanmar more transparent and inclusive, particularly for small and medium-sized enterprises (SMEs), supporting the Government of Myanmar on its way to establish a social market economy.

ICON supports the program by providing ad hoc short-term advisory support and capacity development to the Banking and Monetary Affairs Development Committee (BMADC) and the Central Bank of Myanmar (CBM) on technical topics in order to establish a conducive legal and regulatory framework for the financial sector of the country. In particular, the services include reviewing existing and proposed laws and regulations (with a special emphasis on new regulations pertaining to the recently passed financial institution law). The aim is to give advice on relevant banking and finance topics for decision making to members of BMADC, these being politicians and not experts in the finance sector. It further provides advice and training to formulate and operationalize financial sector regulations and guidelines to the employees of the CBM.

This support can take the form of workshops, active discussions between experts and parliament members and even the rewriting of specific laws according to the needs and based on the discussions with the parliament members.

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