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The Kanbawza Bank yesterday signed an agreement with the Yangon Stock Exchange (YSX) to settle Myanmar's first modern stock exchange. Download KBZ Bank app with currency converter and language support . Including apps with News Interest Calculator exchange rates. Bank exchange rates in Myanmar. See KBZ Bank Limited location, turnover, industry and description.

The KBZ starts the Yangon exchange processing system

The Kanbawza Group and Yangon Stock Exchange (YSX) today concluded an agreement to settle Myanmar's first state-of-the-art stock exchange. In April last year, the firm was selected from six locally based retail banking firms that have submitted applications to the Securities and Exchange Commission (SECM) in Myanmar. In the event that the agent or trader who represents the purchaser cannot make a prompt and immediate instalment, KBZ is responsible for providing the financing at the last minute.

It has the broadest net of privately owned banking institutions and has the necessary e-inclusion for a clearing house, said public servants. SECM previously said it was planning a state-of-the-art delivery versus payments system for the Yangon Stock Exchange in which the vendor will receive a delivery versus-payments system before or at the same point in the process as the collateral to the purchaser.

It is the clearing bank's responsibility to provide adequate cash to assist in these operations and the existing exchange closing infrastructures, which include digital links to various trade and financial servicesystems. "We will work with the 10 investment firms as a full-secure, rapid and precise services provider," he said.

It will provide payments and clearing while YSX will handle the transfers of shares, said U Nyo Myint. It is 49 per cent held by two Japan based corporations - the Japan Exchange Group, the operating company of the Tokyo Stock Exchange and the Daiwa Security Group, which on 23 December 2014 concluded an arrangement with the state-owned Myanma EconomicB.

YSX officers say that another banking institution can be licensed to act as a clearing house, according to how quickly the markets develop and mature. KBZ Stirling Coleman, a KBZ affiliate, was the first of 10 investment houses to obtain a license. The AYA Trust and CB and Myanmar Exchange Centre have also been licensed and started their service activities while the other six are still in preparation.

The KBZSC is working with First Myanmar Investment and Myanmar Thilawa SEZ Holdings to help businesses get their IPOs. The stock exchange was floated at the end of last year, but no company has yet been quoted on the stock exchange.

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