Kbz Bank Western UnionWestern Union bench
_abdm. push (["1512023572", "InPage", "1512024269", "InPage_1512024269"]); Kanbawza Bank has extended the possibilities of Western Union cash transfers to all its branches. Since January Western Union has been working with Co-operative, First Private, Myanma Apex, Myanmar Livestock and Fisheries Development, Myanmar Oriental and United Amarabanken.
Kanbawza Bank restricted the services to its Yangon branch offices, but will be available in all 102 branch offices from April 3. "When we were testing the services in the Yangon stores, we found them practical and expanded them to other cities. We have all the equipment in place," says U Nyo Myint, CEO of Kanbawza Bank.
"Western Union is everywhere, and there are Myanmar operatives all over the globe, so it will be comfortable," he said. He said Kanbawza is working with overseas bankers in Malaysia, Thailand and Singapore to transfer moneys. According to a Western Union statement, Myanmar residents in 74 counties transferred funds home via Western Union.
The Kanbawza Bank also stated that the bank is one of the largest taxpayers in the economy and paid around CZK 10.8 billion in the period 2012-13, compared to CZK 6 billion in 2011-12.
Kanbawza Bank in Myanmar on strike with Western Union
Western Union Company (WU), a leading provider of worldwide payments solutions, today reported that its service is now available in 13 of Myanmar's 14 states and departments, expanding Kanbawza Bank (KBZ Bank) by 100 offices. With the introduction of Western Union Currency Transfer Service at six bank agents in January this year, customers from 74 different nations, among them Australia, Canada, Japan, Malaysia, Singapore, Thailand, UAE, USA, UK and other Europe, have sent funds to Myanmar via Western Union.
"We are pleased to be working with Myanmar's biggest privately-owned bank KBZ Bank to extend Western Union's money-in-minute service throughout the entire state, which includes the launch of service in the state of Kachin. Western Union(R) cash can now be transferred to 13 of the country's 14 states and departments - another important move to take the global community to every part of Myanmar," said Ly Nguyen, Regional Director, Indochina, Western Union.
Mr U Nyo Myint, Executive Director, International Bank, KBZ Bank, said: "Many of our clients count on our continued funding from their families and international clients. As a leading personal lines company with a large client list in Myanmar, we are honoured to work with Western Union - a powerful franchise with sound key value and excellent client care expertise - to deliver an integral level of services that serve as an important liaison between Myanmar's people here and oversee.
The Western Union was the first truly worldwide provider of cash transfers to provide Myanmar with the provision of cross-border cash transfers following the relaxation of restrictions on investments and trades last year. 1 ] Monies may be deferred or non-available due to certain transactions terms, such as the amount sent, the target jurisdiction, monetary access, regulation and FX questions, necessary recipient actions, agent ID requests, agent opening times, timing zone variations or the choice of deferred option.