The 2024-2025 financial year annual statement closing coordination meeting of the Myanma Economic Bank was held in Nay Pyi Taw yesterday.

It was attended by Deputy Prime Minister Union Minister for Planning and Finance U Win Shein, deputy ministers, departmental heads of the ministry and Central Bank of Myanmar, managers of region and state Myanma Economic Banks and district branches.

In his speech, the Union minister said the Myanma Economic Bank is a reliable state-owned bank for the people and the managers should supervise to ensure the increase in deposits of people, to grant quality loans using the deposits in line with the banking rules and procedures and to be systematic with loan usage. Moreover, they should make efforts to ensure loans are repaid within the designated period and reduce the outstanding loan amount. The Internal Audit Department also should scrutinize all the branches regularly to supervise the banking services promptly and conduct an off-site scrutinizing system for the branches in remote areas aiming at preventing financial fraud and misuse in time.

He then urged all those concerned to conduct public awareness programmes about modern banking services for the people to be more familiar with the banks and actively participate in banking activities with trust.

Myanma Economic Bank organizes the annual statement closing coordination meeting for every financial year. The bank will organize this year’s ceremony jointly with the Central Bank of Myanmar including paper-reading sessions and discussions until 21 February.

MNA/KTZH

#TheGlobalNewLightOfMyanmar