Myanmar May Flower Bank
Encyclopedia
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.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. 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. 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.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
of Burma. Founded in 1994 by U Kyaw Myint
U Kyaw Myint
U Kyaw Myint also known as May Flower Kyaw Win is a noted Burmese businessman and political figure. He is one of the wealthiest tycoons in Burma and is one of the country's leading industrialists and bankers...
, it is the third largest bank in the country with ten branches.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. 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. It has, like Banco Delta Asia
Banco Delta Asia
Banco Delta Asia is a Macao-based bank owned by the Delta Asia Financial Group and founded in 1935 by Au Wing Ngok, father of Stanley Au, the current chairman and majority shareholder. It the 10th largest bank in Macao with eight branches and 150 employees.In March 2007, the U.S. Treasury ordered...
, 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.