As emerging markets go, Myanmar is in a unique position. Just five years ago, a civilian government came to power, with the shift swiftly opening the country up to global markets and trade. This in turn presented a series of diverse challenges for the financial sector – the most pressing of which is to rapidly modernise in order to meet the needs of Myanmar’s people. 

With entry of two foreign Telcos growth in the Burmese mobile phone market has reached unprecedented levels, with smartphone penetration now exceeding 70 percent. The widespread availability of Internet-enabled phones is disrupting the provision of traditional banking services, with users increasingly demanding mobile alternatives.