Union Minister U Soe Win inspects Myanma Foreign Trade Bank in Yangon

Union Minister U Soe Win greeting MFTB staffs in Kyauktada Township, Yangon yesterday. Photo: Zaw Min Latt
Union Minister U Soe Win greeting MFTB staffs in Kyauktada Township, Yangon yesterday. Photo: Zaw Min Latt

Union Minister for Planning and Finance U Soe Win arrived the Myanma Foreign Trade Bank (MFTB) in Mahabandoola Garden Street, Kyauktada Township yesterday and met with Managing Director Daw Kay Thi, General Managers, Deputy General Managers, Assistant General Managers and officials, and commented on expanding new services of the bank.
The Union Minister inspected export and import trade financial support services, foreign currency transfer services, loan and guarantee services, status of opening foreign and local currency accounts and other services.
MFTB is a state-owned bank. It originated as Foreign Currency Department of the State Commercial Bank which was established in 1954. In 1970, it changed its name to Foreign Currency Department of the People’s Bank of the Union of Burma.
According to the 1975 Bank Law, its name was changed to Myanma Foreign Trade Bank on 1 April 1976 and MFTB is organized with 12 departments and 452 staffs.
Even though its main function is foreign banking service and is based only in Yangon, it is now providing wide range of services by connecting with local banks as well. At the moment it is providing financial services by having connection with 262 banks in 84 towns in 49 countries. —Yi Yi Thant

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