The opening ceremony of the Myanma Economic Bank’s 2025-2026 Financial Year annual closing work coordination meeting was held yesterday afternoon at the Myat Pan Tha Zin Hall of the Myanma Economic Bank (Head Office) in Nay Pyi Taw.
The opening ceremony was attended by Union Minister for Finance and Revenue Dr Kan Zaw, Deputy Minister Daw Than Than Lin, heads of departments under the Ministry and the Central Bank of Myanmar, general managers, 65 region and state managers and district managers in person, and 25 region and state managers and district managers from the remaining state managers and district managers via videoconference.
At the ceremony, Union Minister Dr Kan Zaw noted that Myanma Economic Bank (MEB) is a state-owned bank with the widest banking network. It plays an important role in the country as a key player in the financial sector. He pointed out that it is necessary to systematically monitor and inspect state funds in accordance with banking rules and regulations to prevent waste and losses due to the large flow of money and its importance in the development of the country’s economic sector. It is also necessary to properly utilize funds and authority, to ensure that procedures are correct, and to systematically implement accounting and bookkeeping. He highlighted that those in charge need to set a weekly schedule to complete the work on time, implement it systematically, and carefully verify and approve the banking transactions.
It must be borne in mind that increasing deposits, which are the main source of funds for the banks, play an important role, and the deposits received are lent to entrepreneurs. If deposits decrease, it will affect the bank’s ability to lend. Therefore, it is necessary to continuously analyse the cash flow into the bank, interest payments, and loan interest recovery by deposit type and take steps to achieve profitability. Now, the managers of the MEB have been providing loans tovarious sectors, intending to improve the agricultural sector, which is the main and fundamental pillar of the country’s economic development, developing the industrial sector based on agriculture and livestock and MSME developments to improve the socioeconomic life of the people. He encouraged them to make loans systematically in accordance with banking procedures and to repay them within the specified period. By doing so, it will help to reduce Non-performing loans (NPL) and create quality loans.
He noted that it is found that customers of the bank can use banking services promptly due to expanding mobile and financial technology (Fin-tech) services through domestic and international financial service providers, and it is possible to reduce the burden of staff, time, and paperwork. At the same time, the e-ID system will be implemented, and UID numbers will be collected to make pension payments to retired employees more convenient and smooth. On the other hand, the FI Gateway system has been implemented in (39) branches of the MEB as of December 2025, connected to the CBM Net to reduce cash consumption and to make it easier to deposit civil servant salaries and pensions into the MEB Pay Wallet. The centralized e-pension system is also being implemented in 185 bank branches by December 2025, covering 85.87 per cent of the pensioners. He highlighted that we are also continuously working on implementing the core banking system, and we will continue to expand the remaining digital banking services from the core banking system.
He urged bank officials to pay attention to and cooperate with the existing laws, rules, and regulations, and to strive to achieve a win-win-win situation between the government, the public, and the bank. He also instructed all bank officials to study and work together to improve banking services and performance for the public.
The state-owned Myanma Economic Bank holds an annual closing meeting for each financial year. This year’s meeting will include sector-wise discussions with the Central Bank of Myanmar, as well as readings, sector-wise discussions, and awards ceremonies for business performance and excellence from 23 to 26 February.
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