Myanmar May Flower Bank
The Myanmar May Flower Bank is a bank of Burma. Founded in 1994 by U Kyaw Myint, it is the third largest bank in the country with ten branches.[1]It was the first bank in Burma to have 24-hour automatic teller machines also was the first to introduce computer networks for transactions back in November 1995.[1] In 1998, U Aik Hok and U Win Naing bought a large number of shares in May Flower Bank from U Kyaw Win, and since then the bank’s activities have declined a little.[1] It has, like Banco Delta Asia, been designated as a "primary money laundering concern" by the United States Treasury and thus is subject to very strict regulations in its dealings with American banks.[2]
References
- ↑ 1.0 1.1 1.2 "Burmese Tycoons Part II". The Irrawaddy. July 2000. Retrieved August 9, 2009.
- ↑ http://www.fincen.gov/statutes_regs/patriot/section311.html