<article>Myanmar’s KBZ Bank has opened its representative office in Singapore while South Korea’s Shinhan Bank is beginning operations in the frontier market.</article>

Myanmar’s KBZ Bank has opened its representative office in Singapore while South Korea’s Shinhan Bank is beginning operations in the frontier market.
<h3>KBZ starts operations of rep office in Singapore</h3>
Yangon-based <a href="https://www.kbzbank.com/en/" target="_blank">Kanbawza Bank</a> (KBZ Bank) has opened its representative office in Singapore after receiving <a href="http://Myanmar’s%20Kanbawza Bank gets nod to open rep office in Singapore Read more at: http://www.dealstreetasia.com/stories/myanmar-dealbook-kbz-to-opens-up-rep-office-in-singapore-44554/" target="_blank">a nod</a> in June.
This will be the second branch of KBZ outside Myanmar. The bank&#8217;s Thai representative office opened last month.
KBZ representative office in Singapore will be “a gateway for Singapore and international business looking for advice or expertise on succeeding in Myanmar,” the bank said, in a release.
According to Myanmar government data, as of June 2016, after China, Singapore leads foreign investments into the country.
“Having the KBZ team on the ground here in Singapore is a big step forward. It means that we can facilitate the flow of investment from Singapore business directly and indirectly from other parts of the world more easily,” said Zaw Lin Aung, chief representative officer of KBZ bank in Singapore.
<h3>South Korea’s Shinhan Bank starts ops in Myanmar</h3>
<a href="http://www.shinhan.com/websquare/websquare_contents.jsp?w2xPath=/contents/global/eng/main/global_eng_main.xml&amp;" target="_blank">Shinhan Bank</a>, that received a licence on September 2016 to open a branch in Myanmar, has started operations including microcredit services.
“The branch allows Shinhan Bank to provide overseas remittance in dollars, trade settlements, loans in dollars, and establishment of accounts in local currency,” according to a report in Myanmar Business Today citing an official at Shinhan Bank.
However, foreign banks are still limited to work on certain services and not yet approved to carry retail banking.
Shinhan Card Co, an affiliate of Shinhan financial group launched microcredit services in Myanmar and is planning to offer small size loans to clients in Yangon and Bago.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/myanmars-kanbawza-bank-opens-first-rep-off-in-thailand-39922/">Myanmar’s Kanbawza Bank opens first representative ofice in Thailand</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/malaysias-maybank-starts-myanmar-ops-with-a-new-branch-in-yangon-14360/">Malaysia’s Maybank starts Myanmar ops with branch in Yangon</a>
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Myanmar’s KBZ Bank has opened its representative office in Singapore while South Korea’s Shinhan Bank is beginning operations in the frontier market.

Myanmar Dealbook: KBZ starts rep office in Singapore; Shinhan Bank begins ops

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