1. Profile
Myanma Investment and Commercial Bank (MICB) has been established in 1990 as a state owned bank under the Financial Institutions of Myanmar Law (1990) to provide domestic and foreign banking services to privater sector. MICB has been successfully providing the banking services to mobilize the financial resources within the country. As a profit producing state-owned Financial Institutions, MICB yearly receives sustainable operational income. The bank has made contribution to the state fund account in every year by means of the creation of new banking services with international banking standards to the customers.
MICB provides commercial banking services, investment banking services, domestics banking services and international banking services to its customers, especially private local customers foreign direct investors in accordance with the new market economic system.
2. Policies and Objectives
The policies and objectives of the bank and banking services are as follows:
( a) Policies
- Expansion of new banking services to assist in the implementation of the country’s economic policies
- Upgrading the banking services to provide better facilities to the public
- Coordinating with foreign correspondent banks for more inflow of foreign direct investment to the country
( b) Objectives
- Extending the commercial banking services which raise not only foreign investment but also domestic investment
- Extending the trade financing services for exporters and importers to increase international trade and foreign investment
- Utilizing more advanced Information Technology to improve the banking services
3. Functions of the Bank
- The main functions of MICB are -
- accepting current and fixed deposits both in local and foreign currencies,
- accepting savings deposits in local currency (Kyat),
- extending overdraft and term-loans in local currency to the national customers,
- remitting funds inside (or) outside the country both in local and foreign currencies,
- buying-selling of foreign currencies,
- providing international banking facilities such as Letter of Credit, Trade Financing, Bill Collection, Payments and Settlements for exporters, importers and investors,
- undertaking bank guarantees in local currency and foreign currencies,
- Providing other banking services.
4. Location of the Bank
Myanma Investment and Commercial Bank (Head Office) is situated at No. 170-176, corner of
Merchant Road and Bo Aung Kyaw Street, Botahtaung Township, Yangon, Myanmar.
MICB (Mandalay Branch) is located at No.100, 84th Street, between 29th x 30th Street, Chan Aye Thar Zan Township, Mandalay, Myanmar.
5. Board of Directors
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6. Department Structure
MICB is operating the banking activities through the following departments in Yangon Head Office.
- Domestic Accounts Department
- Savings Department
- Cash Department
- Loans Department
- Foreign Accounts Department
- Foreign Remittance Department
- Trade Department (Export Department, Import L/C Department, Import Bill Department)
- Information and Communication Technology Department
- Financial Institutions Department
- Internal Audit Department
- Administration Department
7. Bank License and Registration
Bank License No. - Mababa / Na Ba ( R ) - 3 /08/ 2016
Issuing Date - 24th August 2016
Issuing Authority - The Central Bank of Myanmar
8. Anti-Money Laundering Questionaire
AML Questionaire of Myanma Investment and Commercial Bank is attached.
Our institution's AML-KYC prescribed forms are also attached.
9. FATCA GIIN
GIIN - 4AAWYJ.99999.SL. 104