Myanma Apex Bank

Myanma Apex Bank (MAB)
Native name
 မြန်မာ့အရှေ့ဆောင်ဘဏ်
Private
Industry Bank
Founded July 2, 2010
Founder Chit Khaing
Headquarters Ottarathiri Township, Nay Pyi Taw, Myanmar (Burma)
Total assets 529 billion kyat[1] (US$5.29 million) (2012-13)
Owner Chit Khaing
Website www.mabbank.com

Myanma Apex Bank (Burmese: မြန်မာ့အရှေ့ဆောင်ဘဏ်; abbreviated MAB) is a private commercial bank in Burma (Myanmar). It was one of 4 private banks to commence operations in August 2010, the first new financial institutions in the country since the establishment of Innwa Bank in 1997.[2]

The bank is majority owned by Chit Khaing, a prominent Burmese businessman and owner of Eden Group, who is subject to European Union, British and American economic sanctions.[3][4][5]

References

  1. ↑ "The Myanmar Times Bank Survey 2014". Myanmar Times. 15 July 2014. Retrieved 8 February 2015.
  2. ↑ Cheesman, Nick; Monique Skidmore; Trevor Wilson (2012). Myanmar's Transition: Openings, Obstacles, and Opportunities. Institute of Southeast Asian Studies. p. 147.
  3. ↑ "Burma Relaxes Banking Regulations". The Irrawaddy. 14 June 2010. Retrieved 29 October 2012.
  4. ↑ "Commission Regulation (EU) No 411/2010". European Commission. 10 May 2010. Retrieved 29 October 2012.
  5. ↑ "Burma/Myanmar COMMISSION REGULATION (EC) NO 385/2008". Financial Sanctions Notification. HM Treasury. 2 May 2008. Retrieved 29 October 2012.